Brazil: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Brazil

In 2021, after two years of decline, there was significant growth in the Brazilian synthetic rubber market, when its value increased by 21% to $X. Over the period under review, consumption, however, showed a noticeable reduction. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Synthetic Rubber Production in Brazil

In value terms, synthetic rubber production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2013 when the production volume increased by 25%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Synthetic Rubber Exports

Exports from Brazil

In 2021, after three years of decline, there was significant growth in shipments abroad of synthetic rubber, when their volume increased by 35% to X tons. Over the period under review, exports, however, showed a pronounced reduction. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, synthetic rubber exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a deep downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Malaysia (X tons) and Chile (X tons) were the main destinations of synthetic rubber exports from Brazil, with a combined 43% share of total exports. Argentina, China, the Netherlands, Thailand, Belgium, Peru, Sri Lanka, Canada, Mexico and Turkey lagged somewhat behind, together accounting for a further 44%.

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 largest markets for synthetic rubber exported from Brazil were the United States ($X), Malaysia ($X) and Chile ($X), together comprising 43% of total exports. Thailand, Argentina, China, the Netherlands, Sri Lanka, Belgium, Peru, Mexico, Canada and Turkey lagged somewhat behind, together accounting for a further 44%.

Canada, with a CAGR of +27.2%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average synthetic rubber export price stood at $X per ton in 2021, increasing by 33% against the previous year. Over the period under review, the export price, however, saw a pronounced reduction. 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 Chile (-0.2%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into Brazil

In 2021, synthetic rubber imports into Brazil skyrocketed to X tons, rising by 17% on the previous year. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% 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 +109.6% against 2017 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 68%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, synthetic rubber imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum 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 imports to Brazil, together comprising 50% 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 biggest increases were recorded for Belgium (with a CAGR of +41.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of synthetic rubber to Brazil, comprising 29% of total imports. The second position in the ranking was taken by Russia ($X), with a 12% share of total imports. It was followed by Argentina, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-4.8% per year) and Argentina (+1.4% per year).

Import Prices by Country

In 2021, the average synthetic rubber import price amounted to $X per ton, rising by 28% against the previous year. Over the period under review, the import price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2017 an increase of 93% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

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