Natural latex in primary forms market in Eastern Asia

Earlier Report Observations

From 2018 to 2020, the natural latex market in Eastern Asia remained stable, with annual volumes fluctuating between 1 420 and 1 446 thousand tons. A shift toward growth began in 2021, when the market volume increased to 1 439.8 thousand tons. This uptick was supported by a growing industry focus on environmentally friendly production processes and technological innovations, which enhanced market activity.

Market expansion accelerated sharply in 2022, with volume reaching 1 544.4 thousand tons. This surge was primarily driven by robust demand for latex products, closely linked to strong growth in the automotive and construction sectors across the region.

The market contracted in 2023, falling to 1 376.6 thousand tons. This decline was influenced by global trade tensions and tariff increases, which constrained supply and raised costs. Simultaneously, major industry developments, such as Kumho Petrochemical's completion of a significant latex production expansion, responded to high natural rubber prices and stimulated demand for synthetic alternatives, affecting the natural latex market.

Production natural latex in primary forms in Eastern Asia

In kind, 2017-2020, K t

Top producers of natural latex in primary forms, 2017-2020

World map of production of natural latex in primary forms, 2017-2020

Eastern Asia's production of natural latex in primary forms declined after two years of growth. In 2019, output reached its peak at 839.9 thousand tonnes, marking a 1.9% increase from the previous year. However, production fell to 826.3 thousand tonnes in 2020, representing a 1.6% decrease compared to 2019.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Eastern Asia's production value of natural latex in primary forms increased for the second consecutive year. In 2018, the value hit its lowest point at 1 706 million US dollars, reflecting an 8.8% decline from the prior year. It then rose by 9.2% in 2019, and further increased to 2 004 million US dollars in 2020, up 7.5% from 2019. Over the 2017-2020 period, production value grew by 7.2%, with a compound annual growth rate of 2.3%.

Annual dynamics of production in Eastern Asia in value, 2017-2020, M $ US

Exports natural latex in primary forms from Eastern Asia

Exports in kind, K t

Exports of natural latex in primary forms from Eastern Asia declined for the third year in a row. In 2020, shipments amounted to 0.5 thousand tonnes, down 57.2% from 2019. Over the 2017-2020 period, exports decreased by 83%, with a compound annual decline rate of 44.7%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, the largest buyers of natural latex in primary forms from Eastern Asia were Bangladesh, Laos, and Vietnam, accounting for 3.8%, 1.2%, and 1.0% of exports in kind, respectively. Together, they made up 6.0% of total exports, with the remainder distributed among numerous smaller partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, M $ US

Export value of natural latex in primary forms from Eastern Asia fell for the third consecutive year. In 2020, exports were recorded at 1.3 million US dollars, a sharp 53.2% drop from 2019. Over the 2017-2020 period, export value decreased by 82%, with a compound annual decline rate of 43.6%.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, M $ US

Between 2017 and 2020, the key destinations for exports in value terms were Bangladesh, Thailand, and Laos, with shares of 8.3%, 2.0%, and 0.8%, respectively. Combined, these three countries accounted for 11.1% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports natural latex in primary forms to Eastern Asia

Imports in kind, K t

Imports of natural latex in primary forms into Eastern Asia increased in 2020, reaching 597.2 thousand tonnes, up 2.0% from 2019. The highest volume was recorded in 2018 at 625.3 thousand tonnes, a 16.7% increase from the previous year. In 2019, imports fell by 6.3% to their lowest point in the period. Overall, from 2017 to 2020, imports grew by 11.5%, equivalent to an annualized rate of 3.7%.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, Thailand was the dominant source for imports in kind of natural latex in primary forms into Eastern Asia, accounting for 78.7% of total flows. The remaining share was spread across various smaller markets.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, M $ US

After two years of decline, imports of natural latex in primary forms into Eastern Asia rebounded in 2020. The value dropped to its lowest in 2019 at 616.8 million US dollars, a 10.2% decrease from the prior year. In 2020, imports rose to 668.0 million US dollars, up 8.3% from 2019. Over the 2017-2020 period, import value decreased by 7.2%, with an annualized decline rate of 2.5%.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, M $ US

Throughout 2017-2020, Thailand was the primary supplier of natural latex in primary forms to Eastern Asia in value terms, holding a 79.3% share of total imports. Other partners contributed relatively modest portions to the total.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020