Venezuela: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Venezuela

The Venezuelan reclaimed rubber market totaled $X in 2021, therefore, remained relatively stable against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Reclaimed Rubber Production in Venezuela

In value terms, reclaimed rubber production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +35.2% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of 35%. Reclaimed rubber production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Reclaimed Rubber Exports

Exports from Venezuela

In 2021, exports of reclaimed rubber from Venezuela contracted to X tons, shrinking by -12.3% on 2020 figures. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 2,798% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, reclaimed rubber exports expanded significantly to $X in 2021. Over the period under review, exports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 329% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for reclaimed rubber exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Colombia amounted to +101.7%.

In value terms, Colombia ($X) also remains the key foreign market for reclaimed rubber exports from Venezuela.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia stood at +85.8%.

Export Prices by Country

The average reclaimed rubber export price stood at $X per ton in 2021, surging by 23% against the previous year. Overall, the export price, however, recorded a dramatic contraction. The most prominent rate of growth was recorded in 2015 an increase of 173%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2012 to 2021, the rate of growth in terms of prices for Colombia amounted to -8.0% per year.

Reclaimed Rubber Imports

Imports into Venezuela

In 2021, reclaimed rubber imports into Venezuela surged to X tons, picking up by 21% against the previous year's figure. Overall, imports, however, saw a dramatic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 139%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, reclaimed rubber imports surged to $X in 2021. Over the period under review, imports, however, showed a sharp curtailment. The growth pace was the most rapid in 2018 when imports increased by 189%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of reclaimed rubber to Venezuela, accounting for a 73% share of total imports. Moreover, reclaimed rubber imports from Belgium exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), fivefold. Spain (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium amounted to -19.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (-25.3% per year) and Spain (-18.6% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of reclaimed rubber to Venezuela, comprising 55% of total imports. The second position in the ranking was taken by Belgium ($X), with a 20% share of total imports. It was followed by Germany, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value from Saudi Arabia amounted to -15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-31.4% per year) and Germany (-20.5% per year).

Import Prices by Country

The average reclaimed rubber import price stood at $X per ton in 2021, jumping by 55% against the previous year. In general, the import price, however, recorded a pronounced shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 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 the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+36.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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