U.S.: Rubber Product Market 2024

Rubber Product Market Size in the U.S.

In 2021, after two years of decline, there was growth in the U.S. rubber product market, when its value increased by 3.1% to $X. The market value increased at an average annual rate of +3.4% from 2013 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Rubber product consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Rubber Product Production in the U.S.

In value terms, rubber product production totaled $X in 2021. The total output value increased at an average annual rate of +3.0% over the period from 2013 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 15%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Rubber Product Exports

Exports from the U.S.

In 2021, shipments abroad of rubber products for mechanical use increased by 6.9% to X tons, rising for the second year in a row after two years of decline. In general, exports recorded a slight expansion. The growth pace was the most rapid in 2014 when exports increased by 83% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, rubber product exports expanded rapidly to $X in 2021. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 33%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for rubber product exports from the United States, with a 77% share of total exports. Moreover, rubber product exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold. Brazil (X tons) ranked third in terms of total exports with a 3.6% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to Canada stood at +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-14.3% per year) and Brazil (+17.1% per year).

In value terms, Canada ($X) remains the key foreign market for rubber products for mechanical use exports from the United States, comprising 66% of total exports. The second position in the ranking was taken by Mexico ($X), with an 8.7% share of total exports. It was followed by Brazil, with a 4.5% share.

From 2013 to 2021, the average annual rate of growth in terms of value to Canada totaled +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-12.7% per year) and Brazil (+12.6% per year).

Export Prices by Country

The average rubber product export price stood at $X per ton in 2021, approximately mirroring the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by 100% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.

Rubber Product Imports

Imports into the U.S.

In 2021, approx. X tons of rubber products for mechanical use were imported into the United States; surging by 13% on 2020. In general, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 139% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, rubber product imports skyrocketed to $X in 2021. Overall, imports, however, showed a perceptible decrease. The growth pace was the most rapid in 2018 when imports increased by 26% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Czech Republic (X tons), Germany (X tons) and Canada (X tons) were the main suppliers of rubber product imports to the United States, together accounting for 74% of total imports.

From 2013 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +134.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest rubber product suppliers to the United States were Canada ($X), China ($X) and Mexico ($X), with a combined 53% share of total imports. Germany, Japan, Thailand, India, Vietnam and the Czech Republic lagged somewhat behind, together accounting for a further 21%.

The Czech Republic, with a CAGR of +12.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average rubber product import price amounted to $X per ton, increasing by 6.9% against the previous year. Over the period under review, the import price, however, faced a abrupt setback. The most prominent rate of growth was recorded in 2020 an increase of 38% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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