Ecuador: Non-Reinforced Rubber Tubing Market 2024

Non-Reinforced Rubber Tubing Market Size in Ecuador

The Ecuadorian non-reinforced rubber tubing market skyrocketed to $X in 2021, growing by 177% 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). Over the period under review, consumption, however, saw a perceptible contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Non-Reinforced Rubber Tubing Exports

Exports from Ecuador

After two years of decline, shipments abroad of rubber tubing not reinforced increased by 6.6% to X kg in 2021. Overall, exports, however, saw a deep reduction. The growth pace was the most rapid in 2015 when exports increased by 2,301%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-reinforced rubber tubing exports soared to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 2,610%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for non-reinforced rubber tubing exports from Ecuador, accounting for a 92% share of total exports. Moreover, non-reinforced rubber tubing exports to the United States exceeded the volume sent to the second major destination, Colombia (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+3.2% per year) and Peru (-32.0% per year).

In value terms, the United States ($X) remains the key foreign market for rubber tubing not reinforced exports from Ecuador, comprising 84% of total exports. The second position in the ranking was held by Colombia ($X), with a 2.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+14.2% per year) and Peru (-26.7% per year).

Export Prices by Country

The average non-reinforced rubber tubing export price stood at $X per ton in 2021, surging by 77% against the previous year. In general, the export price posted significant growth. The growth pace was the most rapid in 2013 an increase of 174%. The export price peaked in 2021 and is expected to retain growth in years to come.

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 the United States ($X per ton), while the average price for exports to Peru ($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 the United States (+23.6%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Reinforced Rubber Tubing Imports

Imports into Ecuador

In 2021, imports of rubber tubing not reinforced into Ecuador soared to X tons, surging by 131% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a abrupt curtailment. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, non-reinforced rubber tubing imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a pronounced contraction. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of non-reinforced rubber tubing to Ecuador, with a 48% share of total imports. Moreover, non-reinforced rubber tubing imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.3% per year) and Italy (-10.3% per year).

In value terms, China ($X), the United States ($X) and Italy ($X) were the largest non-reinforced rubber tubing suppliers to Ecuador, together accounting for 65% of total imports. South Korea, Argentina, Mexico, Brazil and Malaysia lagged somewhat behind, together comprising a further 20%.

Among the main suppliers, Argentina, with a CAGR of +63.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average non-reinforced rubber tubing import price amounted to $X per ton, picking up by 25% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.4%. As a result, import price reached 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 South Korea ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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