Peru: Market for Synthetic Rubber (Excluding Latex) 2025

Market Size for Synthetic Rubber (Excluding Latex) in Peru

The Peruvian synthetic rubber (excluding latex) market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, showed a perceptible reduction. Synthetic rubber (excluding latex) consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports from Peru

In 2021, the amount of synthetic rubber (excluding latex) exported from Peru skyrocketed to X tons, picking up by 31% on the previous year. Overall, exports showed a perceptible increase. The pace of growth was the most pronounced in 2015 with an increase of 158% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, synthetic rubber (excluding latex) exports surged to $X in 2021. In general, exports showed a noticeable expansion. The pace of growth was the most pronounced in 2015 with an increase of 79%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Bolivia (X tons) was the main destination for synthetic rubber (excluding latex) exports from Peru, with a 61% share of total exports. Moreover, synthetic rubber (excluding latex) exports to Bolivia exceeded the volume sent to the second major destination, Ecuador (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bolivia amounted to +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+7.9% per year) and Colombia (-14.1% per year).

In value terms, Bolivia ($X) remains the key foreign market for synthetic rubber (excluding latex) exports from Peru, comprising 56% of total exports. The second position in the ranking was held by Ecuador ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Bolivia amounted to +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+4.3% per year) and Colombia (-13.9% per year).

Export Prices by Country

In 2021, the average synthetic rubber (excluding latex) export price amounted to $X per ton, surging by 17% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2017 when the average export price increased by 51%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Bolivia ($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 Bolivia (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Peru

Synthetic rubber (excluding latex) imports into Peru skyrocketed to X tons in 2021, increasing by 43% against the year before. Over the period under review, imports, however, saw a mild downturn. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) imports surged to $X in 2021. In general, imports, however, showed a perceptible curtailment. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons), the United States (X tons) and Brazil (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to Peru, with a combined 66% share of total imports. South Korea, China, Mexico, Italy and Argentina lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +31.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber (excluding latex) suppliers to Peru were Russia ($X), the United States ($X) and Brazil ($X), together accounting for 62% of total imports. These countries were followed by South Korea, Mexico, China, Italy and Argentina, which together accounted for a further 23%.

Italy, with a CAGR of +30.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average synthetic rubber (excluding latex) import price stood at $X per ton in 2021, growing by 47% against the previous year. In general, the import price, however, showed a pronounced slump. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform