Portugal: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in Portugal

In 2021, after two years of decline, there was significant growth in the Portuguese unvulcanised rubber market, when its value increased by 28% to $X. Over the period under review, the total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Unvulcanised rubber consumption peaked in 2021 and is expected to retain growth in the near future.

Unvulcanised Rubber Production in Portugal

In value terms, unvulcanised rubber production skyrocketed to $X in 2021 estimated in export price. In general, production enjoyed a significant increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 108%. Over the period under review, production attained the peak level in 2021 and is likely to see steady growth in the immediate term.

Unvulcanised Rubber Exports

Exports from Portugal

In 2021, shipments abroad of unvulcanised rubber decreased by -70.6% to X tons, falling for the fourth year in a row after three years of growth. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 548%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, unvulcanised rubber exports fell sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 440%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

France (X tons), Poland (X tons) and China (X tons) were the main destinations of unvulcanised rubber exports from Portugal, together accounting for 85% of total exports. These countries were followed by the Czech Republic, Finland and Germany, which together accounted for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +89.1%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Poland ($X) and the Czech Republic ($X) appeared to be the largest markets for unvulcanised rubber exported from Portugal worldwide, with a combined 88% share of total exports. China, Finland and Germany lagged somewhat behind, together accounting for a further 9.7%.

In terms of the main countries of destination, Finland, with a CAGR of +96.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average unvulcanised rubber export price amounted to $X per ton, jumping by 16% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 39%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to China ($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 France (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Unvulcanised Rubber Imports

Imports into Portugal

In 2021, purchases abroad of unvulcanised rubber was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, showed a abrupt contraction. The growth pace was the most rapid in 2018 when imports increased by 27%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, unvulcanised rubber imports surged to $X in 2021. In general, imports, however, continue to indicate a deep reduction. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest unvulcanised rubber supplier to Portugal, with a 64% share of total imports. Moreover, unvulcanised rubber imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain amounted to +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+41.1% per year) and Germany (-21.6% per year).

In value terms, Spain ($X) constituted the largest supplier of unvulcanised rubber to Portugal, comprising 55% of total imports. The second position in the ranking was taken by France ($X), with a 17% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+6.0% per year) and Germany (-24.3% per year).

Import Prices by Country

In 2021, the average unvulcanised rubber import price amounted to $X per ton, rising by 15% against the previous year. In general, the import price, however, saw a noticeable contraction. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 France ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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