Mexico: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Mexico

In 2021, the Mexican reclaimed rubber market decreased by -45.5% to $X, falling for the fourth year in a row after two years of growth. Overall, consumption recorded a deep slump. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Reclaimed Rubber Exports

Exports from Mexico

In 2021, approx. X tons of reclaimed rubber were exported from Mexico; increasing by 33% against 2020 figures. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 1,365%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, reclaimed rubber exports expanded rapidly to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 1,233%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for reclaimed rubber exports from Mexico, accounting for a 83% share of total exports. Moreover, reclaimed rubber exports to China exceeded the volume sent to the second major destination, Ecuador (X tons), more than tenfold. Panama (X tons) ranked third in terms of total exports with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+4.4% per year) and Panama (-15.8% per year).

In value terms, China ($X) remains the key foreign market for reclaimed rubber exports from Mexico, comprising 57% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 13% share of total exports. It was followed by Panama, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+6.6% per year) and Panama (-14.8% per year).

Export Prices by Country

The average reclaimed rubber export price stood at $X per ton in 2021, declining by -20.8% against the previous year. Overall, the export price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2016 an increase of 69% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Reclaimed Rubber Imports

Imports into Mexico

In 2021, the amount of reclaimed rubber imported into Mexico reduced sharply to X tons, waning by -28.4% compared with 2020 figures. Over the period under review, imports recorded a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 36%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, reclaimed rubber imports shrank dramatically to $X in 2021. Overall, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 36%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of reclaimed rubber to Mexico, with a 48% share of total imports. Moreover, reclaimed rubber imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. India (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.8% per year) and India (-10.7% per year).

In value terms, China ($X), the United States ($X) and India ($X) appeared to be the largest reclaimed rubber suppliers to Mexico, with a combined 80% share of total imports. These countries were followed by the Netherlands, Malaysia, Colombia and Belgium, which together accounted for a further 10%.

Among the main suppliers, Malaysia, with a CAGR of +11.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average reclaimed rubber import price stood at $X per ton in 2021, dropping by -21.1% against the previous year. In general, the import price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2020 an increase of 27%. As a result, import price reached the peak level of $X per ton, and then declined dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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