Ecuador: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Ecuador

The Ecuadorian unvulcanized rubber market reduced to $X in 2022, with a decrease of -7% against the previous year. In general, consumption recorded a noticeable decline. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Unvulcanized Rubber Production in Ecuador

In value terms, unvulcanized rubber production rose to $X in 2022 estimated in export price. Overall, production, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 90%. Unvulcanized rubber production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Unvulcanized Rubber Exports

Exports from Ecuador

In 2022, approx. X tons of unvulcanized rubber and articles thereof were exported from Ecuador; waning by -31.3% on the year before. In general, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2015 with an increase of 186% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, unvulcanized rubber exports dropped significantly to $X in 2022. Overall, exports showed a abrupt downturn. The growth pace was the most rapid in 2015 when exports increased by 151%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for unvulcanized rubber exports from Ecuador, accounting for a 55% share of total exports. Moreover, unvulcanized rubber exports to Colombia exceeded the volume sent to the second major destination, Peru (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia amounted to +37.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+16.4% per year) and Thailand (-10.7% per year).

In value terms, Colombia ($X), Peru ($X) and Thailand ($X) were the largest markets for unvulcanized rubber exported from Ecuador worldwide, together accounting for 72% of total exports. Mexico, Trinidad and Tobago, New Zealand, Australia, Panama, Poland, Sudan and Nicaragua lagged somewhat behind, together accounting for a further 18%.

In terms of the main countries of destination, New Zealand, with a CAGR of +79.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average unvulcanized rubber export price stood at $X per ton in 2022, jumping by 22% against the previous year. Over the period under review, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, unvulcanized rubber export price decreased by -32.2% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of 65% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Nicaragua ($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 Poland (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports into Ecuador

In 2022, the amount of unvulcanized rubber and articles thereof imported into Ecuador shrank to X tons, falling by -5.4% compared with the previous year. In general, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 37%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, unvulcanized rubber imports contracted to $X in 2022. Over the period under review, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 45% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Brazil (X tons) and Thailand (X tons) were the main suppliers of unvulcanized rubber imports to Ecuador, with a combined 56% share of total imports. Colombia, Malaysia, Peru, Belgium, Turkey, the United States and Mexico lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +9.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest unvulcanized rubber suppliers to Ecuador were Brazil ($X), China ($X) and Colombia ($X), with a combined 46% share of total imports. Thailand, Turkey, Peru, Malaysia, the United States, Belgium and Mexico lagged somewhat behind, together accounting for a further 38%.

Thailand, with a CAGR of +2.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average unvulcanized rubber import price stood at $X per ton in 2022, declining by -3.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 8.3% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Turkey (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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