Canada: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Canada

In 2021, the Canadian reclaimed rubber market decreased by -13.6% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption showed a noticeable decline. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Reclaimed Rubber Production in Canada

In value terms, reclaimed rubber production shrank modestly to $X in 2021 estimated in export price. In general, the total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +40.0% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 38% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced modestly in the following year.

Reclaimed Rubber Exports

Exports from Canada

For the third year in a row, Canada recorded growth in overseas shipments of reclaimed rubber, which increased by 16% to X tons in 2021. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 33% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, reclaimed rubber exports skyrocketed to $X in 2021. Over the period under review, exports recorded a buoyant increase. The pace of growth appeared the most rapid in 2017 with an increase of 40% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

The United States (X tons) was the main destination for reclaimed rubber exports from Canada, accounting for a 91% share of total exports. Moreover, reclaimed rubber exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+129.5% per year) and the UK (+35.9% per year).

In value terms, the United States ($X) remains the key foreign market for reclaimed rubber exports from Canada, comprising 92% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 3.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+77.2% per year) and the UK (+37.4% per year).

Export Prices by Country

In 2021, the average reclaimed rubber export price amounted to $X per ton, with an increase of 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($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 the United States (+2.7%), while the prices for the other major destinations experienced mixed trend patterns.

Reclaimed Rubber Imports

Imports into Canada

In 2021, imports of reclaimed rubber into Canada surged to X tons, jumping by 64% compared with the previous year's figure. In general, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 91% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, reclaimed rubber imports soared to $X in 2021. Overall, imports recorded strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 45%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of reclaimed rubber to Canada, with a 86% share of total imports. Moreover, reclaimed rubber imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), ninefold. The Netherlands (X tons) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +34.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.3% per year) and the Netherlands (+5.3% per year).

In value terms, the United States ($X) constituted the largest supplier of reclaimed rubber to Canada, comprising 71% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by the Netherlands, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.4% per year) and the Netherlands (+4.2% per year).

Import Prices by Country

The average reclaimed rubber import price stood at $X per ton in 2021, which is down by -18% against the previous year. In general, the import price faced a deep reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by 60% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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 the Netherlands ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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