Ecuador: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Ecuador

The Ecuadorian extruded solid rubber rod market declined to $X in 2022, dropping by -15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate measured growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Ecuador

In 2022, overseas shipments of extruded solid rubber rods and profiles were finally on the rise to reach X kg after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 77%. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, extruded solid rubber rod exports surged to $X in 2022. In general, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 70% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Norway (X kg), South Africa (X kg) and the United States (X kg) were the main destinations of extruded solid rubber rod exports from Ecuador, together accounting for 63% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +20.1%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) emerged as the key foreign market for extruded solid rubber rods and profiles exports from Ecuador, comprising 51% of total exports. The second position in the ranking was held by Norway ($X), with a 14% share of total exports. It was followed by Panama, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to South Africa was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (0.0% per year) and Panama (+48.7% per year).

Export Prices by Country

In 2022, the average extruded solid rubber rod export price amounted to $X per ton, increasing by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible setback. The growth pace was the most rapid in 2017 an increase of 107%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Nicaragua ($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 Panama (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Ecuador

In 2022, imports of extruded solid rubber rods and profiles into Ecuador dropped to X tons, shrinking by -14.1% on 2021. Overall, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 70% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, extruded solid rubber rod imports dropped remarkably to $X in 2022. In general, imports, however, saw a temperate expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 69% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest extruded solid rubber rod supplier to Ecuador, accounting for a 45% share of total imports. Moreover, extruded solid rubber rod imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. Colombia (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +44.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+18.5% per year) and Colombia (-8.0% per year).

In value terms, Turkey ($X), Colombia ($X) and China ($X) appeared to be the largest extruded solid rubber rod suppliers to Ecuador, together comprising 84% of total imports.

China, with a CAGR of +34.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average extruded solid rubber rod import price amounted to $X per ton, remaining stable against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 22%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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