Latin America and the Caribbean: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Latin America and the Caribbean

The Latin American pharmaceutical rubber articles market contracted to $X in 2021, shrinking by -5.4% against the previous year. In general, consumption showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the market value increased by 9.6% against the previous year. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Pharmaceutical Rubber Articles Production in Latin America and the Caribbean

In value terms, pharmaceutical rubber articles production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 16%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Pharmaceutical Rubber Articles Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of hygienic or pharmaceutical articles of rubber increased by 6.2% to X units, rising for the third consecutive year after two years of decline. In general, exports enjoyed tangible growth. The most prominent rate of growth was recorded in 2016 when exports increased by 474% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, pharmaceutical rubber articles exports reduced to $X in 2021. Overall, exports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 626%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Mexico prevails in exports structure, reaching X units, which was near 95% of total exports in 2021. Colombia (X units) took a little share of total exports.

Mexico was also the fastest-growing in terms of the hygienic or pharmaceutical articles of rubber exports, with a CAGR of +13.5% from 2012 to 2021. Colombia experienced a relatively flat trend pattern. While the share of Mexico (+52 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest pharmaceutical rubber articles supplier in Latin America and the Caribbean, comprising 94% of total exports. The second position in the ranking was held by Colombia ($X), with a 2.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Mexico totaled +23.7%.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, shrinking by -16.5% against the previous year. Export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pharmaceutical rubber articles export price increased by +5.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 27% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per unit), while Mexico stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+8.9%).

Pharmaceutical Rubber Articles Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of hygienic or pharmaceutical articles of rubber was finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2017 with an increase of 37% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, pharmaceutical rubber articles imports rose significantly to $X in 2021. Overall, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 24% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the three major importers of hygienic or pharmaceutical articles of rubber, namely Brazil, Chile and Argentina, represented more than half of total import. Guatemala (X units) took the next position in the ranking, followed by Peru (X units) and Colombia (X units). All these countries together took near 20% share of total imports. Mexico (X units), Uruguay (X units), Ecuador (X units), Panama (X units) and the Dominican Republic (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Guatemala (with a CAGR of +23.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported hygienic or pharmaceutical articles of rubber in Latin America and the Caribbean, comprising 37% of total imports. The second position in the ranking was held by Chile ($X), with a 13% share of total imports. It was followed by Argentina, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value in Brazil was relatively modest. In the other countries, the average annual rates were as follows: Chile (+2.8% per year) and Argentina (+0.2% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, reducing by -15.8% against the previous year. Over the period under review, the import price saw a slight setback. The most prominent rate of growth was recorded in 2013 when the import price increased by 21%. Over the period under review, import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Dominican Republic ($X per unit), while Argentina ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :