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Venezuela - Synthetic Latex Rubber - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Venezuela

For the third consecutive year, the Venezuelan synthetic latex rubber market recorded decline in sales value, which decreased by -71.7% to $X in 2021. Over the period under review, consumption saw a sharp descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Synthetic Latex Rubber Exports

Exports from Venezuela

In 2021, shipments abroad of synthetic latex rubber increased by 0.5% to X kg, rising for the third consecutive year after six years of decline. Over the period under review, exports, however, showed a abrupt setback. The growth pace was the most rapid in 2019 with an increase of 249% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic latex rubber exports totaled $X in 2021. In general, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2019 when exports increased by 351% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X kg) was the main destination for synthetic latex rubber exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Panama amounted to -15.6%.

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

From 2012 to 2021, the average annual growth rate of value to Panama totaled -17.4%.

Export Prices by Country

In 2021, the average synthetic latex rubber export price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price, however, showed a perceptible descent. The pace of growth was the most pronounced in 2019 an increase of 29%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Panama amounted to -2.2% per year.

Synthetic Latex Rubber Imports

Imports into Venezuela

In 2021, overseas purchases of synthetic latex rubber decreased by -68.2% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a sharp slump. The growth pace was the most rapid in 2018 when imports increased by 45% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, synthetic latex rubber imports declined dramatically to $X in 2021. Overall, imports saw a sharp slump. The most prominent rate of growth was recorded in 2018 with an increase of 77%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest supplier of synthetic latex rubber to Venezuela, accounting for a 65% share of total imports. Moreover, synthetic latex rubber imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. The third position in this ranking was held by South Korea (X tons), with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume from the UK stood at -28.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-31.5% per year) and South Korea (-29.0% per year).

In value terms, the largest synthetic latex rubber suppliers to Venezuela were the United States ($X), the UK ($X) and South Korea ($X), with a combined 68% share of total imports. These countries were followed by Mexico, the Netherlands, Portugal, Belgium and Germany, which together accounted for a further 21%.

The Netherlands, with a CAGR of +0.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average synthetic latex rubber import price stood at $X per ton in 2021, waning by -15.6% against the previous year. Overall, the import price showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 33%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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 Mexico ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+39.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for synthetic latex rubber in the world?

China remains the largest synthetic latex rubber consuming country worldwide, comprising approx. 20% of total volume. Moreover, synthetic latex rubber consumption in China exceeded the figures recorded by the second-largest consumer, Malaysia, twofold. The third position in this ranking was occupied by India, with a 7.9% share.

What are the largest producers of synthetic latex rubber in the world?

The countries with the highest volumes of synthetic latex rubber production in 2021 were China, South Korea and India, with a combined 40% share of global production.

What are the leading suppliers of synthetic latex rubber to Venezuela?

In value terms, the United States constituted the largest supplier of synthetic latex rubber to Venezuela, comprising 43% of total imports. The second position in the ranking was occupied by South Korea, with a 17% share of total imports. It was followed by Colombia, with a 12% share.

What is the average export price for synthetic latex rubber in Venezuela?

The average synthetic latex rubber export price stood at $2,072 per ton in 2018, flattening at the previous year.

What is the average import price for synthetic latex rubber in Venezuela?

In 2021, the average synthetic latex rubber import price amounted to $3,301 per ton, surging by 4.7% against the previous year.

This report provides an in-depth analysis of the synthetic latex rubber market in Venezuela. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20171050 - Synthetic latex rubber

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023