NEW YORK, May 12, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'U.S. – Synthetic Rubber - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
U.S. Synthetic Rubber Market Statistics
| Imports | $1,490.3 Million USD |
| Exports | $2,519.4 Million USD |
| Top Foreign Suppliers | Japan, Germany, South Korea |
| Top Export Destinations | Mexico, Canada, Belgium |
The value of the synthetic rubber market in the United States was estimated at $7.7B in 2021. This figure reflects the total revenues of producers and importers (excluding logistics costs, intermediaries' margins, which will be included in the final consumer price). REQUEST FREE DATA
U.S. Synthetic Rubber Consumption and Production
In 2021, consumption of synthetic rubber in the United States totaled approx. 2.8M tonnes. The total consumption volume increased at an average annual rate of +3.0% over the period from 2007 to 2021. REQUEST FREE DATA
In 2021, production of synthetic rubber was estimated at 3.1M tonnes. In value terms, production reached $8.1B in 2021. REQUEST FREE DATA
U.S. Synthetic Rubber Exports
In 2021, after four years of decline, there was growth in overseas shipments of synthetic rubber, when their volume increased by 4.4% to 963K tonnes. In general, exports, however, continue to indicate a perceptible descent.
In value terms, synthetic rubber exports skyrocketed to $2.5B in 2021. The pace of growth appeared the most rapid in 2010. The exports peaked at $4.2B in 2011; however, from 2012 to 2021, the exports stood at a somewhat lower figure.
Exports by Country
Mexico (140K tonnes), Canada (123K tonnes) and Belgium (118K tonnes) were the main destinations of synthetic rubber exports from the United States, together comprising 41% of total supplies. These countries were followed by China, Brazil, Singapore, India, Japan, Thailand, Taiwan (Chinese), Germany, the Netherlands and South Korea, which together accounted for a further 47%.
In value terms, Mexico ($264M), Canada ($238M) and Belgium ($218M) appeared to be the largest markets for synthetic rubber exported from the United States worldwide, together accounting for 38% of total supplies. China, Brazil, Singapore, the Netherlands, Japan, India, Germany, South Korea, Thailand and Taiwan (Chinese) lagged somewhat behind, together comprising a further 44%.
Singapore, with a CAGR of +10.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination from 2007-2021, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2020, the average synthetic rubber export price amounted to $2,048 per tonne, falling by -12% against the previous year. Prices varied noticeably by the country of destination: the country with the highest price was the Netherlands ($3,695 per tonne), while the average price for exports to India ($1,570 per tonne) was amongst the lowest. From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.
U.S. Synthetic Rubber Imports
In 2021, the amount of synthetic rubber imported into the United States soared to 665K tonnes, growing by 17% on the year before. The total import volume increased at an average annual rate of +2.3% from 2007 to 2021.
In value terms, synthetic rubber imports soared to $1.5B in 2021. Over the period under review, total imports indicated a slight expansion from 2007 to 2021: its value increased at an average annual rate of +2.3% over the last fourteen-year period.
Imports by Country
South Korea (90K tonnes), Germany (78K tonnes) and Japan (67K tonnes) were the main suppliers of synthetic rubber imports to the United States, together accounting for 41% of total supplies. Mexico, France, Russia, Taiwan (Chinese), Canada, Spain, the Czech Republic, Belgium, Italy and Brazil lagged somewhat behind, together accounting for a further 53%.
In value terms, the largest synthetic rubber suppliers to the United States were Japan ($168M), Germany ($144M) and South Korea ($126M), together comprising 40% of total imports. France, Mexico, Russia, Canada, Taiwan (Chinese), Spain, Belgium, Italy, the Czech Republic and Brazil lagged somewhat behind, together comprising a further 48%.
The Czech Republic, with a CAGR of +25.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers from 2007 to 2021, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average synthetic rubber import price stood at $1,907 per tonne in 2020, waning by -18.6% against the previous year. Prices varied noticeably by the country of origin: the country with the highest price was Japan ($2,493 per tonne), while the price for the Czech Republic ($1,257 per tonne) was amongst the lowest. From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the Czech Republic (+0.3%), while the prices for the other major suppliers experienced a decline.
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Product Coverage
Styrene-butadiene rubber, styrene-butadiene-styrene block copolymers, butadiene rubber, isobutylene isoprene rubber, halo-isobutene-isoprene rubber, chloroprene latex, latex of acrylonitrile-butadiene rubber, acrylonitrile-butadiene rubber, isoprene rubber, ethylene-propylene diene rubber, mixtures of natural rubber (balata, gutta-percha, guayule, chicle or similar types of natural rubber with synthetic rubber or factice), and other synthetic rubbers in primary forms.
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