Brazil: Tyre Cord Fabric Market 2024

Tyre Cord Fabric Market Size in Brazil

In 2021, after three years of decline, there was significant growth in the Brazilian tyre cord fabric market, when its value increased by 28% to $X. Overall, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +11.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Tyre Cord Fabric Production in Brazil

In value terms, tyre cord fabric production expanded modestly to $X in 2021 estimated in export price. In general, production continues to indicate a tangible expansion. The growth pace was the most rapid in 2014 when the production volume increased by 145%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Tyre Cord Fabric Exports

Exports from Brazil

In 2021, the amount of tyre cord fabric of high tenacity yarn exported from Brazil skyrocketed to X tons, with an increase of 78% on 2020 figures. In general, exports, however, continue to indicate a sharp downturn. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, tyre cord fabric exports surged to $X in 2021. Overall, exports, however, showed a precipitous decline. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Argentina (X tons) was the main destination for tyre cord fabric exports from Brazil, with a 75% share of total exports. Moreover, tyre cord fabric exports to Argentina exceeded the volume sent to the second major destination, Chile (X tons), sevenfold. China (X tons) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume to Argentina amounted to -19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-10.4% per year) and China (+26.9% per year).

In value terms, Argentina ($X) remains the key foreign market for tyre cord fabric of high tenacity yarn exports from Brazil, comprising 78% of total exports. The second position in the ranking was taken by Chile ($X), with a 12% share of total exports. It was followed by China, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to Argentina stood at -18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-11.2% per year) and China (+28.6% per year).

Export Prices by Country

The average tyre cord fabric export price stood at $X per ton in 2021, growing by 8.8% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 8.9%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to South Korea ($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 Peru (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Tyre Cord Fabric Imports

Imports into Brazil

In 2021, imports of tyre cord fabric of high tenacity yarn into Brazil skyrocketed to X tons, picking up by 75% compared with the year before. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tyre cord fabric imports surged to $X in 2021. Over the period under review, imports posted a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Vietnam (X tons) and South Korea (X tons) were the main suppliers of tyre cord fabric imports to Brazil, together comprising 57% of total imports. Mexico, Colombia, the United States and Indonesia lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +256.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of tyre cord fabric of high tenacity yarn to Brazil, comprising 42% of total imports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total imports. It was followed by South Korea, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +27.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+105.0% per year) and South Korea (-4.5% per year).

Import Prices by Country

The average tyre cord fabric import price stood at $X per ton in 2021, rising by 45% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 China ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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