Uruguay: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Uruguay

In 2022, the Uruguayan unvulcanized rubber market decreased by -24.8% to $X for the first time since 2015, thus ending a six-year rising trend. In general, consumption, however, recorded prominent growth. Unvulcanized rubber consumption peaked at $X in 2021, and then fell remarkably in the following year.

Unvulcanized Rubber Production in Uruguay

In value terms, unvulcanized rubber production amounted to $X in 2022 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 9.4%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Unvulcanized Rubber Exports

Exports from Uruguay

In 2022, overseas shipments of unvulcanized rubber and articles thereof increased by 71% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, showed a abrupt slump. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, unvulcanized rubber exports soared to $X in 2022. Over the period under review, exports, however, showed a deep slump. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons) was the main destination for unvulcanized rubber exports from Uruguay, with a 78% share of total exports. Moreover, unvulcanized rubber exports to Brazil exceeded the volume sent to the second major destination, Argentina (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil totaled -15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-13.6% per year) and Peru (+3.1% per year).

In value terms, Brazil ($X) remains the key foreign market for unvulcanized rubber and articles thereof exports from Uruguay, comprising 74% of total exports. The second position in the ranking was taken by Argentina ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Brazil totaled -16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-13.6% per year) and Peru (+2.5% per year).

Export Prices by Country

In 2022, the average unvulcanized rubber export price amounted to $X per ton, picking up by 25% against the previous year. Over the period under review, the export price, however, saw a mild decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (-0.0%), while the prices for the other major destinations experienced a decline.

Unvulcanized Rubber Imports

Imports into Uruguay

In 2022, approx. X tons of unvulcanized rubber and articles thereof were imported into Uruguay; waning by -7.9% compared with 2021. In general, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 71%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, unvulcanized rubber imports totaled $X in 2022. Over the period under review, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 43%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X tons), China (X tons) and Argentina (X tons) were the main suppliers of unvulcanized rubber imports to Uruguay, with a combined 69% share of total imports. Spain, Germany, Slovakia, the Czech Republic and the United States lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +269.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of unvulcanized rubber and articles thereof to Uruguay, comprising 39% of total imports. The second position in the ranking was taken by Slovakia ($X), with an 11% share of total imports. It was followed by Argentina, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil stood at -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+191.1% per year) and Argentina (-12.2% per year).

Import Prices by Country

The average unvulcanized rubber import price stood at $X per ton in 2022, rising by 21% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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