Guatemala: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Guatemala

The Guatemalan extruded solid rubber rod market soared to $X in 2022, picking up by 34% 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, recorded a noticeable decrease. 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 Guatemala

In 2022, shipments abroad of extruded solid rubber rods and profiles decreased by -92.1% to X kg, falling for the third consecutive year after two years of growth. Overall, exports showed a significant decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 76% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, extruded solid rubber rod exports declined markedly to $X in 2022. Over the period under review, exports faced a precipitous descent. The most prominent rate of growth was recorded in 2014 when exports increased by 83% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Honduras (X kg) was the main destination for extruded solid rubber rod exports from Guatemala, accounting for a 98% share of total exports. It was followed by Costa Rica (X kg), with a 1.6% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Honduras stood at +9.6%.

In value terms, Honduras ($X) emerged as the key foreign market for extruded solid rubber rods and profiles exports from Guatemala, comprising 99% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 1.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras totaled +33.5%.

Export Prices by Country

In 2022, the average extruded solid rubber rod export price amounted to $X per ton, picking up by 233% against the previous year. In general, the export price continues to indicate a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Costa Rica totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+21.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Guatemala

In 2022, imports of extruded solid rubber rods and profiles into Guatemala soared to X tons, picking up by 19% on the previous year. In general, imports, however, saw a abrupt decline. The growth pace was the most rapid in 2017 when imports increased by 277%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, extruded solid rubber rod imports surged to $X in 2022. Over the period under review, imports, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2017 when imports increased by 467%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Thailand (X tons) were the main suppliers of extruded solid rubber rod imports to Guatemala, together accounting for 70% of total imports. Colombia, Mexico, Italy, India, South Korea and Indonesia lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Colombia (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Colombia ($X) appeared to be the largest extruded solid rubber rod suppliers to Guatemala, with a combined 63% share of total imports. Thailand, Mexico, India, Italy, South Korea and Indonesia lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, India, with a CAGR of +39.4%, saw the highest growth rate of 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 2022, the average extruded solid rubber rod import price amounted to $X per ton, declining by -2.7% against the previous year. Over the period under review, the import price, however, showed a pronounced increase. The pace of growth appeared the most rapid in 2017 when the average import price increased by 51%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then declined modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+49.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform