Global Synthetic Rubber Market Overview
In value terms, synthetic rubber production dropped to $ in 2019 estimated in export prices. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2011 when the production volume increased by % year-to-year. As a result, production attained the peak level of $. From 2012 to 2019, global production growth remained at a somewhat lower figure.
The countries with the highest volumes of synthetic rubber production in 2019 were the U.S. ( tonnes), Japan ( tonnes) and China ( tonnes), with a combined % share of global production. These countries were followed by South Korea, Russia, Thailand, Germany, Viet Nam, Indonesia, Mexico, France, Taiwan, Chinese and Italy, which together accounted for a further %.
From 2007 to 2019, the most notable rate of growth in terms of synthetic rubber production, amongst the key producing countries, was attained by Thailand, while synthetic rubber production for the other global leaders experienced more modest paces of growth.
The global synthetic rubber market size reduced slightly to $ in 2019, waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 with an increase of % y-o-y. Over the period under review, the global market attained the peak level at $ in 2011; however, from 2012 to 2019, consumption remained at a lower figure.
In China, synthetic rubber consumption expanded at an average annual rate of +% over the period from 2007-2019. In the other countries, the average annual rates were as follows: the U.S. (+% per year) and Japan (-% per year).
In value terms, China ($), the U.S. ($) and Japan ($) were the countries with the highest levels of market value in 2019, with a combined % share of the global market. Germany, Mexico, Indonesia, Russia, Italy, India, Brazil, Thailand, France and Democratic Republic of the Congo lagged somewhat behind, together comprising a further %.
India saw the highest growth rate of market size, in terms of the main consuming countries over the period under review, while synthetic rubber market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of synthetic rubber per capita consumption in 2019 were Japan ( kg per person), Germany ( kg per person) and Italy ( kg per person).
From 2007 to 2019, the biggest increases were in the U.S., while synthetic rubber per capita consumption for the other global leaders experienced more modest paces of growth.