Latin America and the Caribbean: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in Latin America and the Caribbean

The Latin American unvulcanised rubber market contracted modestly to $X in 2023, dropping by X% against the previous year. In general, consumption showed a perceptible setback. The most prominent rate of growth was recorded in 2018 when the market value increased by X%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Unvulcanised Rubber Production in Latin America and the Caribbean

In value terms, unvulcanised rubber production amounted to $X in 2023 estimated in export price. In general, production, however, continues to indicate a pronounced setback. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Unvulcanised Rubber Exports

Exports in Latin America and the Caribbean

In 2023, overseas shipments of unvulcanised rubber increased by X% to X tons, rising for the third year in a row after two years of decline. In general, exports, however, continue to indicate a mild downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, unvulcanised rubber exports surged to $X in 2023. Over the period under review, exports, however, recorded a perceptible shrinkage. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Mexico (X tons) and Brazil (X tons) were the major exporters of unvulcanised rubber in Latin America and the Caribbean, together achieving X% of total exports. It was distantly followed by Uruguay (X tons), constituting an X% share of total exports. Argentina (X tons) took a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Argentina (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest unvulcanised rubber supplying countries in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Uruguay ($X), together comprising X% of total exports. Argentina lagged somewhat behind, comprising a further X%.

In terms of the main exporting countries, Argentina, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a slight setback. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uruguay (X%), while the other leaders experienced a decline in the export price figures.

Unvulcanised Rubber Imports

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of unvulcanised rubber decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports remained at a lower figure.

In value terms, unvulcanised rubber imports totaled $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked in 2023 and is expected to retain growth in the near future.

Imports by Country

Mexico represented the largest importer of unvulcanised rubber in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2023. Brazil (X tons) ranks second in terms of the total imports with an X% share, followed by Argentina (X%). Chile (X tons), Costa Rica (X tons) and Peru (X tons) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to unvulcanised rubber imports into Mexico stood at X%. At the same time, Costa Rica (X%) and Peru (X%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Chile (X%), Argentina (X%) and Brazil (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Mexico increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported unvulcanised rubber in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

In Mexico, unvulcanised rubber imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Argentina (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mexico ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform