Chile: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Chile

The Chilean synthetic rubber market soared to $X in 2021, picking up by 72% against the previous year. Over the period under review, consumption, however, continues to indicate a slight decline. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Synthetic Rubber Production in Chile

In value terms, synthetic rubber production amounted to $X in 2021 estimated in export price. In general, production, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2017 when the production volume increased by 167% against the previous year. Synthetic rubber production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Synthetic Rubber Exports

Exports from Chile

In 2021, overseas shipments of synthetic rubber increased by 15% to X tons, rising for the second consecutive year after two years of decline. In general, exports saw strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by 157%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, synthetic rubber exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a slight shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 73% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X tons) was the main destination for synthetic rubber exports from Chile, with a 70% share of total exports. Moreover, synthetic rubber exports to Peru exceeded the volume sent to the second major destination, Brazil (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Peru totaled +32.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-4.7% per year) and Bolivia (-11.7% per year).

In value terms, Peru ($X) remains the key foreign market for synthetic rubber exports from Chile, comprising 64% of total exports. The second position in the ranking was held by Brazil ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru totaled +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-9.7% per year) and Bolivia (-8.7% per year).

Export Prices by Country

The average synthetic rubber export price stood at $X per ton in 2021, growing by 3.6% against the previous year. Over the period under review, the export price, however, saw a drastic downturn. The growth pace was the most rapid in 2015 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Peru ($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 Bolivia (+3.4%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into Chile

In 2021, the amount of synthetic rubber imported into Chile surged to X tons, picking up by 40% on the year before. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber imports skyrocketed to $X in 2021. Overall, imports, however, saw a slight slump. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of synthetic rubber to Chile, with a 45% share of total imports. Moreover, synthetic rubber imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was taken by Russia (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+5.1% per year) and Russia (+1.6% per year).

In value terms, the United States ($X) constituted the largest supplier of synthetic rubber to Chile, comprising 48% of total imports. The second position in the ranking was held by Brazil ($X), with a 19% share of total imports. It was followed by South Korea, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+4.5% per year) and South Korea (-2.9% per year).

Import Prices by Country

The average synthetic rubber import price stood at $X per ton in 2021, surging by 34% against the previous year. In general, the import price, however, saw a noticeable decline. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Argentina ($X per ton), while the price for Russia ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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