Rubber: synthetic, n.e.c. in heading 4002, (other than latex), in primary forms or in plates, sheets or strip

In 2024, rubber: synthetic, n.e.c. in heading 4002, (other than latex), in primary forms or in plates, sheets or strip trade exhibited strong growth, with global flows reaching $1,862,251,236 and a three-year compound annual growth rate of -1.4% (five-year: +3.5%). The all-time peak of $2,183,325,098 was recorded in 2022; the current level is 15% below that high-water mark.

Over the 30-year observation window (1995–2024), 62% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is steady (-2.6% acceleration).

The World Trade Flows Characterization classifies rubber: synthetic, n.e.c. in heading 4002, (other than latex), in primary forms or in plates, sheets or strip as "Two-way horizontal trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.132). The three largest exporters — China ($415.7M), Japan ($367.0M), and United States ($294.8M) — collectively dominate supply flows. The leading exporter has grown at +9.6% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.046). The three largest import markets are China ($206.8M), Germany ($181.0M), and United States ($136.5M). The largest importing market sources from 43 different supplying countries.

Estimated substitution elasticity: -10.90. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Taiwan → China at $60.7M, representing 29.3% of the importer's total demand.

The volatility score for rubber: synthetic, n.e.c. in heading 4002, (other than latex), in primary forms or in plates, sheets or strip is 9 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.