Latin America and the Caribbean: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in Latin America and the Caribbean

The Latin American unvulcanised rubber market skyrocketed to $X in 2021, growing by 18% against the previous year. In general, consumption, however, showed a slight decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Unvulcanised Rubber Production in Latin America and the Caribbean

In value terms, unvulcanised rubber production surged to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable decrease. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Unvulcanised Rubber Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of unvulcanised rubber increased by 26% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt decline. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, unvulcanised rubber exports soared to $X in 2021. Overall, exports, however, saw a deep downturn. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Brazil (X tons) and Mexico (X tons) represented the largest exporters of unvulcanised rubber in Latin America and the Caribbean, together comprising 83% of total exports. It was distantly followed by Uruguay (X tons), committing an 11% share of total exports. Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Argentina (with a CAGR of +45.8%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Mexico ($X), Brazil ($X) and Uruguay ($X) constituted the countries with the highest levels of exports in 2021, with a combined 91% share of total exports. These countries were followed by Argentina, which accounted for a further 4.6%.

Argentina, with a CAGR of +39.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, falling by -4.1% against the previous year. Over the period under review, the export price recorded a pronounced slump. The most prominent rate of growth was recorded in 2017 when the export price increased by 4.2%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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 Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-3.2%), while the other leaders experienced a decline in the export price figures.

Unvulcanised Rubber Imports

Imports in Latin America and the Caribbean

After two years of decline, overseas purchases of unvulcanised rubber increased by 29% to X tons in 2021. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 36%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, unvulcanised rubber imports soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico prevails in imports structure, resulting at X tons, which was near 76% of total imports in 2021. Brazil (X tons) held the second position in the ranking, followed by Argentina (X tons). All these countries together held approx. 16% share of total imports. Chile (X tons) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the unvulcanised rubber imports, with a CAGR of +9.5% from 2012 to 2021. Argentina (-1.9%), Chile (-5.0%) and Brazil (-11.0%) illustrated a downward trend over the same period. While the share of Mexico (+34 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Chile (-3.1 p.p.), Argentina (-3.4 p.p.) and Brazil (-24.9 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) constitutes the largest market for imported unvulcanised rubber in Latin America and the Caribbean, comprising 80% of total imports. The second position in the ranking was taken by Brazil ($X), with an 8.2% share of total imports. It was followed by Argentina, with a 4.2% share.

In Mexico, unvulcanised rubber imports expanded at an average annual rate of +7.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-13.2% per year) and Argentina (-6.6% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, reducing by -2.9% against the previous year. Overall, the import price saw a slight curtailment. The pace of growth was the most pronounced in 2014 an increase of 25% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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