Costa Rica: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Costa Rica

The Costa Rican extruded solid rubber rod market rose significantly to $X in 2022, increasing by 7.3% against the previous year. Over the period under review, consumption, however, continues to indicate a noticeable slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Extruded Solid Rubber Rods And Profiles in Costa Rica

In value terms, extruded solid rubber rod production rose rapidly to $X in 2022 estimated in export price. In general, production, however, showed a perceptible slump. The growth pace was the most rapid in 2020 with an increase of 39%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Costa Rica

In 2022, the amount of extruded solid rubber rods and profiles exported from Costa Rica soared to X tons, growing by 64% compared with 2021 figures. Over the period under review, exports enjoyed a resilient increase. The growth pace was the most rapid in 2015 when exports increased by 6,351%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, extruded solid rubber rod exports surged to $X in 2022. Overall, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 8,910%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X tons) was the main destination for extruded solid rubber rod exports from Costa Rica, with a 73% share of total exports. Moreover, extruded solid rubber rod exports to Ecuador exceeded the volume sent to the second major destination, Nicaragua (X tons), threefold. El Salvador (X kg) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador amounted to +28.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+21.8% per year) and El Salvador (+31.6% per year).

In value terms, Ecuador ($X) remains the key foreign market for extruded solid rubber rods and profiles exports from Costa Rica, comprising 80% of total exports. The second position in the ranking was taken by Nicaragua ($X), with an 11% share of total exports. It was followed by El Salvador, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador stood at +31.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+26.9% per year) and El Salvador (+18.0% per year).

Export Prices by Country

The average extruded solid rubber rod export price stood at $X per ton in 2022, dropping by -2.9% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 40%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Costa Rica

In 2022, supplies from abroad of extruded solid rubber rods and profiles increased by 4.3% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports recorded resilient growth. The growth pace was the most rapid in 2016 when imports increased by 91% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, extruded solid rubber rod imports totaled $X in 2022. In general, imports continue to indicate strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 74%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Colombia (X tons) constituted the largest supplier of extruded solid rubber rod to Costa Rica, accounting for a 66% share of total imports. Moreover, extruded solid rubber rod imports from Colombia exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. The third position in this ranking was held by Italy (X tons), with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Colombia amounted to +22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.4% per year) and Italy (+44.1% per year).

In value terms, Colombia ($X) constituted the largest supplier of extruded solid rubber rods and profiles to Costa Rica, comprising 62% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Italy, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value from Colombia stood at +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.7% per year) and Italy (+35.2% per year).

Import Prices by Country

The average extruded solid rubber rod import price stood at $X per ton in 2022, growing by 3.5% against the previous year. Overall, the import price, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 22% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+43.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform