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2022
Exports $2.98BWorld Rnk 3 / 145
Flag Rnk 114 / 1217
2022
Destination $111M Mexico
2021 - 2022
FASTEST GROWING MARKET $111MBelgium
2022
PRODUCT COMPLEXITY IN Synthetic Rubber0.49Rnk 369 / 1025
2022
Imports $1.96BWorld Rnk 2 / 209
Flag Rnk 251 / 1216
2022
Origin $76.1M South Korea
2021 - 2022
FASTEST GROWING ORIGIN $76.1MSouth Korea
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $2.98B in Synthetic Rubber, making it the 3rd largest exporter of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 114th most exported product in United States. The main destination of Synthetic Rubber exports from United States are: Mexico ($513M), Canada ($388M), Belgium ($345M), Brazil ($282M), and Japan ($152M).

The fastest growing export markets for Synthetic Rubber of United States between 2021 and 2022 were Belgium ($111M), Mexico ($100M), and Brazil ($60.8M).

Imports In 2022, United States imported $1.96B in Synthetic Rubber, becoming the 2nd largest importer of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 251st most imported product in United States. United States imports Synthetic Rubber primarily from: South Korea ($308M), Japan ($264M), Germany ($210M), Chinese Taipei ($175M), and Mexico ($167M).

The fastest growing import markets in Synthetic Rubber for United States between 2021 and 2022 were South Korea ($76.1M), Chinese Taipei ($52.6M), and Singapore ($44.5M).

COMPANIES In 2023, leading companies such as Goodyear Tire and Rubber (294), Continental Tire (241), and Samsung (173) were at the forefront of shipping Synthetic Rubber to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Synthetic Rubber exports accounted up to $216M and imports accounted up to $119M, resulting in a positive trade balance of $96.8M. Between August 2023 and August 2024 the exports of United States'   Synthetic Rubber have increased by $23.6M (12.3%) from $192M to $216M, while imports increased by $15.9M (15.4%) from $103M to $119M.

Destinations In August 2024, Synthetic Rubber were exported mostly to Mexico ($42.2M), Canada ($34.4M), Belgium ($31.7M), Brazil ($17.7M), and China ($9.47M), and were imported mostly from South Korea ($22M), Germany ($17.3M), Japan ($15.1M), France ($12M), and Mexico ($9.41M).

Growth In August 2024, the increase in Synthetic Rubber's year-by-year exports was explained primarily by an increase in exports to Brazil ($8.31M or 62.5%), Mexico ($3.76M or 9.4%), and France ($3.55M or 237%). In August 2024, the increase in Synthetic Rubber's year-by-year imports was explained primarily by an increase in imports from Mexico ($3.66M or 32.9%), Spain ($3.34M or 206%), and Singapore ($3.19M or 235%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$23.6M(12.3%)
IMPORT GROWTH (August 2023 - August 2024)$15.9M(15.4%)
MAIN EXPORTER (August 2024)Texas$96.3M
MAIN DESTINATION (August 2024)Mexico$42.2M

This section shows Synthetic Rubber's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Synthetic Rubber over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.98B
IMPORTS (2022)$1.96B
NET TRADE (2022)$1.02B

In 2022, United States exported $2.98B in Synthetic Rubber. The main destinations of United States exports on Synthetic Rubber were Mexico ($513M), Canada ($388M), Belgium ($345M), Brazil ($282M), and Japan ($152M).

In 2022, United States imported $1.96B in Synthetic Rubber, mainly from South Korea ($308M), Japan ($264M), Germany ($210M), Chinese Taipei ($175M), and Mexico ($167M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Synthetic Rubber EXPORT MARKETS FOR United States WERE (2021 - 2022):
Belgium$111M (47.3%)
Mexico$100M (24.3%)
Brazil$60.8M (27.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Synthetic Rubber BY United States WERE (2021 - 2022):
Chinese Taipei-$20.1M (-31.3%)
South Korea-$16.4M (-24.6%)
Singapore-$12.2M (-10.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Synthetic Rubber were:
South Korea $3.3B
Thailand $3.04B
In 2022, United States's main importing competitors in Synthetic Rubber were:
China $8.77B
India $1.33B

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Trade Value of Synthetic Rubber by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $121M
TOP IMPORT POTENTIALCanada+ $46.9M

Synthetic Rubber’s highest export potential is China. With an export gap of $121M.   Synthetic Rubber’s highest import potential is Canada with an import gap of $46.9M.

See methodology.

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