Latin America and the Caribbean: Vulcanised Rubber Erases Market 2024

Vulcanised Rubber Erases Market Size in Latin America and the Caribbean

The Latin American vulcanised rubber erases market shrank sharply to $X in 2021, waning by -23.6% against the previous year. Overall, consumption recorded a perceptible reduction. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Vulcanised Rubber Erases Production in Latin America and the Caribbean

In value terms, vulcanised rubber erases production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 27%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Vulcanised Rubber Erases Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of erasers of vulcanised rubber increased by 106% to X tons, rising for the second consecutive year after four years of decline. In general, exports continue to indicate a noticeable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vulcanised rubber erases exports surged to $X in 2021. The total export value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of erasers of vulcanised rubber, namely Mexico, represented more than two-thirds of total export.

Mexico was also the fastest-growing in terms of the erasers of vulcanised rubber exports, with a CAGR of +12.4% from 2012 to 2021. Mexico (+47 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) also remains the largest vulcanised rubber erases supplier in Latin America and the Caribbean.

In Mexico, vulcanised rubber erases exports increased at an average annual rate of +6.3% over the period from 2012-2021.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, declining by -39.3% against the previous year. In general, the export price showed a pronounced descent. The pace of growth was the most pronounced in 2017 an increase of 31% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Mexico.

From 2012 to 2021, the rate of growth in terms of prices for Mexico amounted to -5.5% per year.

Vulcanised Rubber Erases Imports

Imports in Latin America and the Caribbean

Vulcanised rubber erases imports fell to X tons in 2021, shrinking by -9.1% against the year before. Over the period under review, imports saw a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 79% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, vulcanised rubber erases imports contracted to $X in 2021. In general, imports saw a perceptible slump. The pace of growth was the most pronounced in 2017 when imports increased by 81% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Mexico dominates imports structure, recording X tons, which was near 56% of total imports in 2021. Brazil (X tons) took the second position in the ranking, followed by Colombia (X tons) and Chile (X tons). All these countries together took approx. 24% share of total imports. Bolivia (X tons), Peru (X tons) and Cuba (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to vulcanised rubber erases imports into Mexico stood at -3.2%. At the same time, Chile (+7.3%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +7.3% from 2012-2021. By contrast, Colombia (-2.4%), Bolivia (-2.9%), Cuba (-3.0%), Peru (-10.8%) and Brazil (-12.3%) illustrated a downward trend over the same period. While the share of Mexico (+11 p.p.), Chile (+5.2 p.p.) and Colombia (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Peru (-1.6 p.p.) and Brazil (-8.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported erasers of vulcanised rubber in Latin America and the Caribbean, comprising 55% of total imports. The second position in the ranking was taken by Brazil ($X), with a 12% share of total imports. It was followed by Colombia, with an 8.4% share.

In Mexico, vulcanised rubber erases imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-9.3% per year) and Colombia (+2.3% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, reducing by -5.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2014 an increase of 18% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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