Latin America and the Caribbean: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Latin America and the Caribbean

In 2022, the Latin American synthetic rubber market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption saw a slight decline. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Synthetic Rubber Production in Latin America and the Caribbean

In value terms, synthetic rubber production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Synthetic Rubber Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of synthetic rubber were exported in Latin America and the Caribbean; approximately equating 2021. Overall, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, synthetic rubber exports soared to $X in 2022. Over the period under review, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons) and Mexico (X tons) were the main exporters of synthetic rubber in 2022, finishing at near X% and X% of total exports, respectively. It was distantly followed by Argentina (X tons), achieving a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Argentina (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest synthetic rubber supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Argentina ($X), together accounting for X% of total exports.

Among the main exporting countries, Argentina, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, showed a slight descent. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the export price figures.

Synthetic Rubber Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of synthetic rubber decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X tons, and then reduced slightly in the following year.

In value terms, synthetic rubber imports surged to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Brazil was the largest importer of synthetic rubber in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Mexico (X tons) held the second position in the ranking, distantly followed by Argentina (X tons) and Chile (X tons). All these countries together took near X% share of total imports. Colombia (X tons), Peru (X tons) and Costa Rica (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Argentina ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Mexico, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Mexico ($X per ton) and Colombia ($X per ton), while Brazil ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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