Portugal: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Portugal

The Portuguese reclaimed rubber market declined to $X in 2021, flattening at the previous year. Over the period under review, consumption, however, saw a pronounced contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Reclaimed Rubber Production in Portugal

In value terms, reclaimed rubber production rose significantly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Reclaimed Rubber Exports

Exports from Portugal

After two years of decline, overseas shipments of reclaimed rubber increased by 202% to X tons in 2021. In general, exports posted a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, reclaimed rubber exports surged to $X in 2021. Over the period under review, exports continue to indicate a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for reclaimed rubber exports from Portugal, accounting for a 47% share of total exports. Moreover, reclaimed rubber exports to the United States exceeded the volume sent to the second major destination, Belgium (X tons), fivefold. Australia (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +181.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and Australia (+51.1% per year).

In value terms, the United States ($X), Belgium ($X) and Australia ($X) were the largest markets for reclaimed rubber exported from Portugal worldwide, together accounting for 71% of total exports. The UK, Canada, Cabo Verde, Singapore, Djibouti, India, Morocco, New Zealand, Switzerland and Hong Kong SAR lagged somewhat behind, together accounting for a further 20%.

Switzerland, with a CAGR of +516.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average reclaimed rubber export price stood at $X per ton in 2021, growing by 51% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Switzerland ($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 Australia (+21.2%), while the prices for the other major destinations experienced more modest paces of growth.

Reclaimed Rubber Imports

Imports into Portugal

In 2021, supplies from abroad of reclaimed rubber was finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, reclaimed rubber imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a mild curtailment. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of reclaimed rubber to Portugal, with a 68% share of total imports. Moreover, reclaimed rubber imports from India exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume from India amounted to -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (0.0% per year) and China (+5.1% per year).

In value terms, India ($X) constituted the largest supplier of reclaimed rubber to Portugal, comprising 71% of total imports. The second position in the ranking was held by Brazil ($X), with a 14% share of total imports. It was followed by Belgium, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from India amounted to -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (0.0% per year) and Belgium (+119.3% per year).

Import Prices by Country

In 2021, the average reclaimed rubber import price amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 2.5% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained 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 Spain ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+33.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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