MERCOSUR: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in MERCOSUR

In 2021, after two years of decline, there was significant growth in the MERCOSUR synthetic rubber (excluding latex) market, when its value increased by 23% to $X. Over the period under review, consumption, however, saw a noticeable setback. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Synthetic Rubber (Excluding Latex) in MERCOSUR

In value terms, synthetic rubber (excluding latex) production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt descent. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports in MERCOSUR

In 2021, overseas shipments of synthetic rubber (excluding latex) increased by 9.3% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, continue to indicate a deep contraction. The pace of growth was the most pronounced in 2015 when exports increased by 14%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt shrinkage. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Brazil (X tons) was the key exporter of synthetic rubber (excluding latex), constituting 75% of total exports. It was distantly followed by Argentina (X tons), generating a 23% share of total exports.

Exports from Brazil decreased at an average annual rate of -6.4% from 2012 to 2021. Argentina (-4.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Argentina increased by +3.5 percentage points.

In value terms, Brazil ($X) remains the largest synthetic rubber (excluding latex) supplier in MERCOSUR, comprising 80% of total exports. The second position in the ranking was taken by Argentina ($X), with an 18% share of total exports.

In Brazil, synthetic rubber (excluding latex) exports contracted by an average annual rate of -9.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, picking up by 38% against the previous year. In general, the export price, however, showed a pronounced decline. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-3.8%).

Imports of Synthetic Rubber (Excluding Latex)

Imports in MERCOSUR

In 2021, supplies from abroad of synthetic rubber (excluding latex) increased by 24% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber (excluding latex) imports soared to $X in 2021. Overall, imports, however, continue to indicate a perceptible setback. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Brazil dominates imports structure, finishing at X tons, which was approx. 73% of total imports in 2021. Chile (X tons) ranks second in terms of the total imports with an 8.3% share, followed by Argentina (8.2%). Colombia (X tons), Peru (X tons) and Ecuador (X tons) took a little share of total imports.

Brazil was also the fastest-growing in terms of the synthetic rubber (excluding latex) imports, with a CAGR of +5.6% from 2012 to 2021. At the same time, Chile (+4.3%) and Colombia (+2.2%) displayed positive paces of growth. Argentina and Ecuador experienced a relatively flat trend pattern. By contrast, Peru (-1.8%) illustrated a downward trend over the same period. Brazil (+18 p.p.) significantly strengthened its position in terms of the total imports, while Peru and Argentina saw its share reduced by -1.7% and -2.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported synthetic rubber (excluding latex) in MERCOSUR, comprising 71% of total imports. The second position in the ranking was held by Argentina ($X), with a 9% share of total imports. It was followed by Chile, with an 8.5% share.

In Brazil, synthetic rubber (excluding latex) imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Argentina (-5.3% per year) and Chile (-1.0% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, increasing by 28% against the previous year. Over the period under review, the import price, however, continues to indicate a drastic downturn. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Colombia ($X per ton) and Argentina ($X per ton), while Ecuador ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform