Puerto Rico: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Puerto Rico

The Puerto Rican synthetic latex rubber market stood at less than $X in 2021, remaining stable 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). Over the period under review, consumption saw a relatively flat trend pattern.

Synthetic Latex Rubber Exports

Exports from Puerto Rico

In 2021, the amount of synthetic latex rubber exported from Puerto Rico amounted to less than X kg, standing approx. at the previous year's figure. Over the period under review, exports continue to indicate a relatively flat trend pattern.

In value terms, synthetic latex rubber exports totaled less than $X in 2021. In general, exports continue to indicate a relatively flat trend pattern.

Exports by Country

In 2021, South Korea (X tons), distantly followed by Germany (X tons), Taiwan (Chinese) (X tons), China (X tons), the Netherlands (X tons) and Malaysia (X tons) were the key exporters of synthetic latex rubber, together comprising 76% of total exports. The following exporters - the United States (X tons), Thailand (X tons), Japan (X tons), Belgium (X tons) and Italy (X tons) - each amounted to a 16% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to synthetic latex rubber exports from South Korea stood at +12.0%. At the same time, China (+36.7%), Thailand (+21.4%), Italy (+10.4%), Taiwan (Chinese) (+9.5%), Japan (+7.2%), Malaysia (+6.6%) and the Netherlands (+4.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in the world, with a CAGR of +36.7% from 2012-2021. Germany experienced a relatively flat trend pattern. By contrast, Belgium (-1.7%) and the United States (-3.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea, China, Taiwan (Chinese) and Thailand increased by +9.8, +9, +2.5 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest synthetic latex rubber supplying countries from Puerto Rico were South Korea ($X), Taiwan (Chinese) ($X) and Germany ($X), together comprising 59% of total exports. These countries were followed by Japan, China, Malaysia, the United States, Italy, the Netherlands, Thailand and Belgium, which together accounted for a further 35%.

In terms of the main exporting countries, China, with a CAGR of +33.1%, 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

The export price in Puerto Rico stood at less than $X per ton in 2021, almost unchanged from the previous year. In general, the export price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.5%), while the other leaders experienced more modest paces of growth.

Synthetic Latex Rubber Imports

Imports into Puerto Rico

In 2021, approx. less than X kg of synthetic latex rubber were imported into Puerto Rico; remaining stable against the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern.

In value terms, synthetic latex rubber imports stood at less than $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern.

Imports by Country

In 2021, Malaysia (X tons) represented the main importer of synthetic latex rubber, comprising 38% of total imports. Thailand (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by China (9%). The following importers - Italy (X tons), Vietnam (X tons), Belgium (X tons), Turkey (X tons), Indonesia (X tons), Germany (X tons), the Netherlands (X tons), the United States (X tons), Austria (X tons) and Spain (X tons) - together made up 24% of total imports.

From 2012 to 2021, average annual rates of growth with regard to synthetic latex rubber imports into Malaysia stood at +16.3%. At the same time, Vietnam (+23.2%), Thailand (+11.4%), Austria (+10.2%), Italy (+8.9%), China (+8.6%), Indonesia (+8.1%), the United States (+7.7%), Turkey (+6.0%), Germany (+4.1%) and Belgium (+2.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +23.2% from 2012-2021. Spain experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.5%) illustrated a downward trend over the same period. Malaysia (+18 p.p.), Thailand (+2.7 p.p.) and Vietnam (+2.1 p.p.) significantly strengthened its position in terms of the global imports, while Belgium, Spain and the Netherlands saw its share reduced by -1.8%, -1.8% and -2.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported synthetic latex rubber into Puerto Rico, comprising 40% of global imports. The second position in the ranking was held by China ($X), with a 12% share of global imports. It was followed by Thailand, with a 9.7% share.

In Malaysia, synthetic latex rubber imports expanded at an average annual rate of +17.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: China (+11.2% per year) and Thailand (+9.9% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the import price recorded a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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