The UK synthetic latex rubber market saw consumption decline to 175K tons in 2024, with a market value of $545M. Production was 148K tons, valued at $500M. Imports fell to 28K tons, primarily from Germany, while exports were minimal at 1.3K tons. The market is forecast to grow at a CAGR of +0.6% in volume and +0.7% in value through 2035, reaching 187K tons and $590M, respectively.<\/p>\n
Key Findings<\/p>\n
Market forecast to grow modestly to 187K tons and $590M by 2035 with a CAGR of +0.7% in value2024 consumption fell to 175K tons, with market revenue at $545M, down from 2022 peaksDomestic production was 148K tons, valued at $500M, showing a relatively flat long-term trendGermany is the dominant import source (58% share), while import prices surged 22% in 2024Exports remain minimal at 1.3K tons, with Ireland, the Netherlands, and Georgia as key destinationsMarket Forecast<\/p>\n
Driven by increasing demand for synthetic latex rubber in the UK, 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 +0.6% for the period from 2024 to 2035, which is projected to bring the market volume to 187K tons by the end of 2035.<\/p>\n
In value terms, the market is forecast to increase with an anticipated CAGR of +0.7% for the period from 2024 to 2035, which is projected to bring the market value to $590M (in nominal wholesale prices) by the end of 2035.<\/p>\n
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ConsumptionUnited Kingdom’s Consumption of Synthetic Latex Rubber<\/p>\n
In 2024, consumption of synthetic latex rubber decreased by -4.1% to 175K tons, falling for the second year in a row after five years of growth. Overall, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the consumption volume increased by 4.6% against the previous year. Synthetic latex rubber consumption peaked at 192K tons in 2022; however, from 2023 to 2024, consumption remained at a lower figure.<\/p>\n
The revenue of the synthetic latex rubber market in the UK amounted to $545M in 2024, with an increase of 4.3% 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). Over the period under review, the total consumption indicated notable growth from 2013 to 2024: its value increased at an average annual rate of +2.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -17.6% against 2022 indices. Synthetic latex rubber consumption peaked at $662M in 2022; however, from 2023 to 2024, consumption failed to regain momentum.<\/p>\n
ProductionUnited Kingdom’s Production of Synthetic Latex Rubber<\/p>\n
In 2024, the amount of synthetic latex rubber produced in the UK fell modestly to 148K tons, approximately reflecting the previous year’s figure. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 12%. Over the period under review, production attained the peak volume at 158K tons in 2020; however, from 2021 to 2024, production stood at a somewhat lower figure.<\/p>\n
In value terms, synthetic latex rubber production totaled $500M in 2024 estimated in export price. Over the period under review, the total production indicated a temperate expansion from 2013 to 2024: its value increased at an average annual rate of +2.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -18.1% against 2022 indices. The pace of growth appeared the most rapid in 2018 with an increase of 34%. Over the period under review, production attained the maximum level at $629M in 2019; however, from 2020 to 2024, production stood at a somewhat lower figure.<\/p>\n
ImportsUnited Kingdom’s Imports of Synthetic Latex Rubber<\/p>\n
In 2024, supplies from abroad of synthetic latex rubber decreased by -19.4% to 28K tons, falling for the second year in a row after two years of growth. In general, imports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2022 with an increase of 26% against the previous year. Imports peaked at 45K tons in 2015; however, from 2016 to 2024, imports failed to regain momentum.<\/p>\n
In value terms, synthetic latex rubber imports dropped to $50M in 2024. Over the period under review, imports saw a perceptible curtailment. The pace of growth was the most pronounced in 2022 when imports increased by 42%. Imports peaked at $70M in 2013; however, from 2014 to 2024, imports stood at a somewhat lower figure.<\/p>\n
Imports By Country<\/p>\n
In 2024, Germany<\/a> (16K tons) constituted the largest supplier of synthetic latex rubber to the UK, with a 58% share of total imports. Moreover, synthetic latex rubber imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands<\/a> (4.5K tons), fourfold. Belgium<\/a> (4.4K tons) ranked third in terms of total imports with a 16% share.<\/p>\n From 2013 to 2024, the average annual growth rate of volume from Germany stood at -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-6.6% per year) and Belgium (-2.4% per year).<\/p>\n In value terms, Germany ($23M) constituted the largest supplier of synthetic latex rubber to the UK, comprising 47% of total imports. The second position in the ranking was taken by Japan<\/a> ($8.8M), with an 18% share of total imports. It was followed by Belgium, with a 13% share.<\/p>\n From 2013 to 2024, the average annual rate of growth in terms of value from Germany stood at -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+18.6% per year) and Belgium (-0.1% per year).<\/p>\n Import Prices By Country<\/p>\n The average synthetic latex rubber import price stood at $1,755 per ton in 2024, jumping by 22% against the previous year. Overall, the import price showed a modest increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 24% against the previous year. The import price peaked in 2024 and is likely to see gradual growth in the immediate term.<\/p>\n Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States<\/a> ($27,639 per ton), while the price for the Netherlands ($1,018 per ton) was amongst the lowest.<\/p>\n From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.<\/p>\n ExportsUnited Kingdom’s Exports of Synthetic Latex Rubber<\/p>\n In 2024, after two years of decline, there was growth in shipments abroad of synthetic latex rubber, when their volume increased by 1.9% to 1.3K tons. Overall, exports, however, recorded a significant decline. The pace of growth was the most pronounced in 2019 when exports increased by 59% against the previous year. Over the period under review, the exports hit record highs at 20K tons in 2013; however, from 2014 to 2024, the exports remained at a lower figure.<\/p>\n In value terms, synthetic latex rubber exports expanded markedly to $4.6M in 2024. Over the period under review, exports, however, faced a abrupt downturn. The pace of growth was the most pronounced in 2019 with an increase of 50%. The exports peaked at $46M in 2013; however, from 2014 to 2024, the exports failed to regain momentum.<\/p>\n Exports By Country<\/p>\n Ireland<\/a> (354 tons), Georgia (204 tons) and Egypt<\/a> (154 tons) were the main destinations of synthetic latex rubber exports from the UK, with a combined 55% share of total exports.<\/p>\n From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of +128.2%), while the other leaders experienced more modest paces of growth.<\/p>\n In value terms, Ireland ($644K), the Netherlands ($387K) and Georgia ($386K) were the largest markets for synthetic latex rubber exported from the UK worldwide, together comprising 31% of total exports.<\/p>\n Georgia, with a CAGR of +115.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.<\/p>\n Export Prices By Country<\/p>\n In 2024, the average synthetic latex rubber export price amounted to $3,546 per ton, increasing by 7.6% against the previous year. In general, export price indicated a perceptible expansion from 2013 to 2024: its price increased at an average annual rate of +3.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, synthetic latex rubber export price decreased by -17.1% against 2022 indices. The growth pace was the most rapid in 2018 an increase of 38% against the previous year. As a result, the export price attained the peak level of $5,089 per ton. From 2019 to 2024, the average export prices failed to regain momentum.<\/p>\n There were significant differences in the average prices for the major overseas markets. In 2024, amid the top suppliers, the country with the highest price was Spain<\/a> ($14,151 per ton), while the average price for exports to Egypt ($1,563 per ton) was amongst the lowest.<\/p>\n From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.<\/p>\n