Puerto Rico: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in Puerto Rico

The Puerto Rican vulcanised rubber thread market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, continues to indicate a pronounced curtailment. Puerto Rico consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Vulcanised Rubber Thread Production in Puerto Rico

In value terms, vulcanised rubber thread production amounted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 44%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Vulcanised Rubber Thread Exports

Exports from Puerto Rico

In 2021, approx. less than X kg of vulcanised rubber thread and cord were exported from Puerto Rico; stabilizing at the year before. Over the period under review, exports showed a relatively flat trend pattern.

In value terms, vulcanised rubber thread exports stood at less than $X in 2021. In general, exports showed a relatively flat trend pattern.

Exports by Country

In 2021, Thailand (X tons) represented the main exporter of vulcanised rubber thread and cord, comprising 57% of total exports. Malaysia (X tons) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by China (9%). The following exporters - India (X tons) and Vietnam (X tons) - each recorded a 3.6% share of total exports.

Exports from Thailand increased at an average annual rate of +4.8% from 2012 to 2021. At the same time, Vietnam (+26.2%) and India (+24.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +26.2% from 2012-2021. China and Malaysia experienced a relatively flat trend pattern. While the share of Thailand (+9.3 p.p.) and India (+1.5 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of China (-1.6 p.p.) and Malaysia (-5.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest vulcanised rubber thread supplier from Puerto Rico, comprising 51% of global exports. The second position in the ranking was held by Malaysia ($X), with a 23% share of global exports. It was followed by China, with a 12% share.

In Thailand, vulcanised rubber thread exports increased at an average annual rate of +2.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-0.8% per year) and China (+4.3% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, approximately equating the previous year. In general, the export price saw a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.4%), while the other leaders experienced a decline in the export price figures.

Vulcanised Rubber Thread Imports

Imports into Puerto Rico

Vulcanised rubber thread imports into Puerto Rico totaled less than X kg in 2021, approximately reflecting the previous year. Over the period under review, imports saw a relatively flat trend pattern.

In value terms, vulcanised rubber thread imports totaled less than $X in 2021. In general, imports showed a relatively flat trend pattern.

Imports by Country

China dominates imports structure, finishing at X tons, which was near 52% of total imports in 2021. It was distantly followed by Bangladesh (X tons), achieving a 6% share of total imports. Indonesia (X tons), Brazil (X tons), Vietnam (X tons), South Korea (X tons), the UK (X tons), Italy (X tons), Turkey (X tons), the United States (X tons), Iran (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to vulcanised rubber thread imports into China stood at +9.0%. At the same time, Bangladesh (+14.3%), Brazil (+4.9%), Indonesia (+4.0%), Iran (+3.7%), Turkey (+2.7%) and Italy (+2.6%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in the world, with a CAGR of +14.3% from 2012-2021. The United States and South Korea experienced a relatively flat trend pattern. By contrast, the UK (-2.6%), Taiwan (Chinese) (-10.9%) and Vietnam (-12.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Bangladesh increased by +18 and +3.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported vulcanised rubber thread and cord into Puerto Rico, comprising 49% of global imports. The second position in the ranking was taken by Bangladesh ($X), with a 5.7% share of global imports. It was followed by Indonesia, with a 4.1% share.

In China, vulcanised rubber thread imports expanded at an average annual rate of +7.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+12.4% per year) and Indonesia (+5.3% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, leveling off at the previous year. Over the period under review, the import price showed a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per ton), while the United States ($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) (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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