Central Asia: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Central Asia

The Central Asian synthetic rubber (excluding latex) market expanded modestly to $X in 2023, increasing by X% against the previous year. In general, consumption, however, saw a noticeable decrease. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Production of Synthetic Rubber (Excluding Latex) in Central Asia

In value terms, synthetic rubber (excluding latex) production stood at $X in 2023 estimated in export price. Over the period under review, production, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports in Central Asia

In 2023, approx. X tons of synthetic rubber (excluding latex) were exported in Central Asia; reducing by X% compared with the year before. In general, exports, however, recorded a strong increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2022, and then fell notably in the following year.

In value terms, synthetic rubber (excluding latex) exports contracted remarkably to $X in 2023. Overall, exports, however, recorded a pronounced expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then shrank significantly in the following year.

Exports by Country

Kazakhstan dominates exports structure, accounting for X tons, which was near X% of total exports in 2023. Uzbekistan (X tons) took a little share of total exports.

Kazakhstan was also the fastest-growing in terms of the synthetic rubber (excluding latex) exports, with a CAGR of X% from 2012 to 2023. At the same time, Uzbekistan (X%) displayed positive paces of growth. From 2012 to 2023, the share of Kazakhstan and Uzbekistan increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) remains the largest synthetic rubber (excluding latex) supplier in Central Asia, comprising X% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a X% share of total exports.

In Kazakhstan, synthetic rubber (excluding latex) exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Central Asia amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price recorded a slight contraction. The most prominent rate of growth was recorded in 2022 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Kazakhstan amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%).

Imports of Synthetic Rubber (Excluding Latex)

Imports in Central Asia

In 2023, imports of synthetic rubber (excluding latex) in Central Asia surged to X tons, picking up by X% on 2022 figures. In general, imports recorded resilient growth. The pace of growth was the most pronounced in 2017 when imports increased by X%. The volume of import peaked in 2023 and is expected to retain growth in the immediate term.

In value terms, synthetic rubber (excluding latex) imports surged to $X in 2023. Overall, imports recorded a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by X%. The level of import peaked in 2023 and is likely to continue growth in the near future.

Imports by Country

In 2023, Uzbekistan (X tons) was the major importer of synthetic rubber (excluding latex), creating X% of total imports. It was distantly followed by Kazakhstan (X tons), creating a X% share of total imports. The following importers - Tajikistan (X tons) and Mongolia (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to synthetic rubber (excluding latex) imports into Uzbekistan stood at X%. At the same time, Mongolia (X%) and Tajikistan (X%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest-growing importer imported in Central Asia, with a CAGR of X% from 2012-2023. By contrast, Kazakhstan (X%) illustrated a downward trend over the same period. Uzbekistan (X p.p.) significantly strengthened its position in terms of the total imports, while Kazakhstan saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) constitutes the largest market for imported synthetic rubber (excluding latex) in Central Asia, comprising X% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total imports. It was followed by Tajikistan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Uzbekistan totaled X%. In the other countries, the average annual rates were as follows: Kazakhstan (X% per year) and Tajikistan (X% per year).

Import Prices by Country

In 2023, the import price in Central Asia amounted to $X per ton, which is down by X% against the previous year. In general, the import price saw a noticeable downturn. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Kazakhstan ($X per ton) and Uzbekistan ($X per ton), while Mongolia ($X per ton) and Tajikistan ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Tajikistan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform