Driven by increasing demand in China, the market for unvulcanised rubber is expected to grow at a CAGR of +1.5% in volume and +1.6% in value from 2024 to 2035. This growth trend is projected to bring the market volume to 1.8M tons and market value to $5.8B by the end of 2035.
Market Forecast
Driven by increasing demand for unvulcanised rubber in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.5% for the period from 2024 to 2035, which is projected to bring the market volume to 1.8M tons by the end of 2035. In value terms, the market is forecast to increase with an anticipated CAGR of +1.6% for the period from 2024 to 2035, which is projected to bring the market value to $5.8B (in nominal wholesale prices) by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +1.6% for the period from 2024 to 2035, which is projected to bring the market value to $5.8B (in nominal wholesale prices) by the end of 2035.
Consumption
China's Consumption of Unvulcanised Rubber
After three years of growth, consumption of unvulcanised rubber decreased by -0.4% to 1.6M tons in 2024. The total consumption volume increased at an average annual rate of +1.1% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when the consumption volume increased by 3.1%. Over the period under review, consumption reached the maximum volume at 1.6M tons in 2023, and then contracted in the following year.
The size of the unvulcanised rubber market in China expanded notably to $4.9B in 2024, increasing by 5.3% 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 recorded a relatively flat trend pattern. Unvulcanised rubber consumption peaked at $5.3B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.
Production
China's Production of Unvulcanised Rubber
In 2024, production of unvulcanised rubber decreased by -1.1% to 1.5M tons for the first time since 2014, thus ending a nine-year rising trend. The total output volume increased at an average annual rate of +2.4% over the period from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 6.1%. Unvulcanised rubber production peaked at 1.6M tons in 2023, and then dropped in the following year.
In 2024, production of unvulcanised rubber decreased by -1.1% to 1.5M tons for the first time since 2014, thus ending a nine-year rising trend. The total output volume increased at an average annual rate of +2.4% over the period from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 6.1%. Unvulcanised rubber production peaked at 1.6M tons in 2023, and then dropped in the following year.
In value terms, unvulcanised rubber production reached $4.8B in 2024 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 15% against the previous year. Over the period under review, production reached the maximum level at $5.3B in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.
Imports
China's Imports of Unvulcanised Rubber
In 2024, purchases abroad of unvulcanised rubber increased by 12% to 46K tons for the first time since 2021, thus ending a two-year declining trend. Overall, imports, however, faced a deep reduction. The pace of growth appeared the most rapid in 2014 with an increase of 22% against the previous year. As a result, imports attained the peak of 233K tons. From 2015 to 2024, the growth of imports remained at a lower figure.
In value terms, unvulcanised rubber imports reached $233M in 2024. Over the period under review, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 23%. Over the period under review, imports attained the maximum at $621M in 2014; however, from 2015 to 2024, imports failed to regain momentum.
Source: indexbox