Mexico: Tyre Cord Fabric Market 2024

Tyre Cord Fabric Market Size in Mexico

The Mexican tyre cord fabric market expanded sharply to $X in 2021, picking up by 8% against the previous year. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -12.6% against 2019 indices. Tyre cord fabric consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Tyre Cord Fabric Production in Mexico

In value terms, tyre cord fabric production rose remarkably to $X in 2021 estimated in export price. Overall, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.0% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 22%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Tyre Cord Fabric Exports

Exports from Mexico

In 2021, the amount of tyre cord fabric of high tenacity yarn exported from Mexico soared to X tons, with an increase of 20% against the year before. Overall, exports saw a noticeable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 138% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, tyre cord fabric exports soared to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 131%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for tyre cord fabric exports from Mexico, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +14.1%.

In value terms, the United States ($X) also remains the key foreign market for tyre cord fabric of high tenacity yarn exports from Mexico.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +8.9%.

Export Prices by Country

In 2021, the average tyre cord fabric export price amounted to $X per ton, rising by 8.8% against the previous year. In general, the export price, however, continues to indicate a pronounced contraction. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for Peru amounted to -3.9% per year.

Tyre Cord Fabric Imports

Imports into Mexico

In 2021, purchases abroad of tyre cord fabric of high tenacity yarn increased by 45% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, tyre cord fabric imports skyrocketed to $X in 2021. Overall, total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of tyre cord fabric imports to Mexico, together accounting for 100% of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +46.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest tyre cord fabric suppliers to Mexico were the United States ($X), China ($X) and Vietnam ($X), together comprising 100% of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of +89.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average tyre cord fabric import price amounted to $X per ton, rising by 4.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2018 when the average import price increased by 4.6% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+29.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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