Paraguay: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Paraguay

The Paraguayan unvulcanized rubber market skyrocketed to $X in 2022, jumping by 21% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Unvulcanized rubber consumption peaked in 2022 and is expected to retain growth in the immediate term.

Unvulcanized Rubber Exports

Exports from Paraguay

In 2022, overseas shipments of unvulcanized rubber and articles thereof increased by 1,683% to X tons, rising for the third year in a row after three years of decline. Overall, exports recorded strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, unvulcanized rubber exports surged to $X in 2022. In general, exports recorded a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina (X tons) was the main destination for unvulcanized rubber exports from Paraguay, accounting for a 92% share of total exports. Moreover, unvulcanized rubber exports to Argentina exceeded the volume sent to the second major destination, Bolivia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina stood at +28.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+39.8% per year) and Brazil (-40.5% per year).

In value terms, Argentina ($X), Bolivia ($X) and Brazil ($X) were the largest markets for unvulcanized rubber exported from Paraguay worldwide, with a combined 99% share of total exports.

Bolivia, with a CAGR of +39.1%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average unvulcanized rubber export price stood at $X per ton in 2022, reducing by -32.8% against the previous year. In general, the export price continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 674% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+20.1%), while the prices for the other major destinations experienced a decline.

Unvulcanized Rubber Imports

Imports into Paraguay

In 2022, the amount of unvulcanized rubber and articles thereof imported into Paraguay expanded remarkably to X tons, surging by 14% on the previous year. Over the period under review, imports posted resilient growth. The pace of growth was the most pronounced in 2013 when imports increased by 34%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, unvulcanized rubber imports skyrocketed to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 28%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of unvulcanized rubber to Paraguay, with a 75% share of total imports. Moreover, unvulcanized rubber imports from Brazil exceeded the figures recorded by the second-largest supplier, Belgium (X tons), eightfold. The third position in this ranking was taken by China (X tons), with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil amounted to +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+26.3% per year) and China (+16.4% per year).

In value terms, Brazil ($X) constituted the largest supplier of unvulcanized rubber and articles thereof to Paraguay, comprising 73% of total imports. The second position in the ranking was held by China ($X), with a 10% share of total imports. It was followed by Belgium, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.1% per year) and Belgium (+29.8% per year).

Import Prices by Country

In 2022, the average unvulcanized rubber import price amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, the import price, however, saw a pronounced downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform