Latin America and the Caribbean: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Latin America and the Caribbean

The Latin American reclaimed rubber market totaled $X in 2021, increasing by 3.5% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.1% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Reclaimed Rubber Production in Latin America and the Caribbean

In value terms, reclaimed rubber production expanded slightly to $X in 2021 estimated in export price. The total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 24% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Reclaimed Rubber Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of reclaimed rubber increased by 69% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports saw a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, reclaimed rubber exports skyrocketed to $X in 2021. Overall, exports recorded buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil prevails in exports structure, recording X tons, which was approx. 72% of total exports in 2021. Chile (X tons) took the second position in the ranking, followed by Mexico (X tons). All these countries together took near 18% share of total exports. Honduras (X tons), Costa Rica (X tons) and Venezuela (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to reclaimed rubber exports from Brazil stood at +10.3%. At the same time, Honduras (+103.5%), Chile (+47.3%), Venezuela (+34.7%) and Mexico (+6.0%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +103.5% from 2012-2021. By contrast, Costa Rica (-17.9%) illustrated a downward trend over the same period. Brazil (+16 p.p.), Chile (+8.7 p.p.), Honduras (+3.3 p.p.) and Venezuela (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Costa Rica saw its share reduced by -20.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest reclaimed rubber supplying countries in Latin America and the Caribbean were Brazil ($X), Chile ($X) and Honduras ($X), together comprising 90% of total exports.

In terms of the main exporting countries, Chile, with a CAGR of +80.1%, saw the highest growth rate of 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

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, jumping by 29% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+22.3%), while the other leaders experienced a decline in the export price figures.

Reclaimed Rubber Imports

Imports in Latin America and the Caribbean

After two years of decline, overseas purchases of reclaimed rubber increased by 5.5% to X tons in 2021. Overall, imports, however, showed a pronounced decline. The pace of growth appeared the most rapid in 2013 with an increase of 16% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, reclaimed rubber imports totaled $X in 2021. In general, imports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2019 when imports increased by 17%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Brazil prevails in imports structure, recording X tons, which was approx. 53% of total imports in 2021. Ecuador (X tons) ranks second in terms of the total imports with a 9.9% share, followed by Mexico (8.8%), Chile (8.5%), Argentina (6%) and Colombia (5.9%). Peru (X tons) held a minor share of total imports.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of reclaimed rubber. At the same time, Colombia (+12.0%) and Ecuador (+6.8%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +12.0% from 2012-2021. By contrast, Argentina (-1.2%), Chile (-1.8%), Mexico (-8.0%) and Peru (-20.6%) illustrated a downward trend over the same period. While the share of Brazil (+9.6 p.p.), Ecuador (+5.6 p.p.) and Colombia (+4.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mexico (-5.7 p.p.) and Peru (-9.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported reclaimed rubber in Latin America and the Caribbean, comprising 55% of total imports. The second position in the ranking was held by Mexico ($X), with a 9.7% share of total imports. It was followed by Ecuador, with an 8.8% share.

In Brazil, reclaimed rubber imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mexico (-10.1% per year) and Ecuador (+3.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, shrinking by -1.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 19%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Mexico ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+4.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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