Brazil: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Brazil

After two years of decline, the Brazilian synthetic rubber (excluding latex) market increased by 20% to $X in 2021. Over the period under review, consumption, however, recorded a perceptible contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Synthetic Rubber (Excluding Latex) in Brazil

In value terms, synthetic rubber (excluding latex) production surged to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt contraction. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports from Brazil

In 2021, shipments abroad of synthetic rubber (excluding latex) was finally on the rise to reach X tons after five years of decline. In general, exports, however, saw a drastic downturn. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) exports soared to $X in 2021. Overall, exports, however, continue to indicate a abrupt slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Chile (X tons) and Malaysia (X tons) were the main destinations of synthetic rubber (excluding latex) exports from Brazil, with a combined 36% share of total exports. These countries were followed by Argentina, the Netherlands, Thailand, China, Belgium, Peru, Sri Lanka, Canada, Mexico and Colombia, which together accounted for a further 49%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +27.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Chile ($X) and Malaysia ($X) appeared to be the largest markets for synthetic rubber (excluding latex) exported from Brazil worldwide, with a combined 38% share of total exports. Thailand, Argentina, the Netherlands, China, Sri Lanka, Belgium, Peru, Mexico, Canada and Colombia lagged somewhat behind, together comprising a further 49%.

Canada, with a CAGR of +27.2%, 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.

Export Prices by Country

In 2021, the average synthetic rubber (excluding latex) export price amounted to $X per ton, surging by 29% against the previous year. Overall, the export price, however, continues to indicate a noticeable decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-0.2%), while the prices for the other major destinations experienced a decline.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Brazil

Synthetic rubber (excluding latex) imports into Brazil surged to X tons in 2021, growing by 18% against 2020 figures. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +37.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 25% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, synthetic rubber (excluding latex) imports soared to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X tons), Russia (X tons) and Argentina (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to Brazil, with a combined 50% share of total imports. Poland, Mexico, Germany, the Czech Republic, Taiwan (Chinese), France, Belgium, the UK, Japan and Singapore lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +44.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of synthetic rubber (excluding latex) to Brazil, comprising 29% of total imports. The second position in the ranking was held by Russia ($X), with a 12% share of total imports. It was followed by Argentina, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-4.7% per year) and Argentina (+1.4% per year).

Import Prices by Country

The average synthetic rubber (excluding latex) import price stood at $X per ton in 2021, surging by 28% against the previous year. Overall, the import price, however, saw a abrupt curtailment. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform