$Colombia - Synthetic Rubber (Excluding Latex) - Market Analysis, Forecast, Size, Trends And Insights$

Report Update: Apr 1, 2024

Colombia - Synthetic Rubber (Excluding Latex) - Market Analysis, Forecast, Size, Trends And Insights

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Price for Synthetic Rubber (Excluding Latex) in Colombia - 2022

Price for Synthetic Rubber (Excluding Latex) in Colombia (CIF) - 2022

The average synthetic rubber (excluding latex) import price stood at $3,352 per ton in February 2022, shrinking by -6.5% against the previous month. Overall, import price indicated measured growth from February 2021 to February 2022: its price increased at an average monthly rate of +3.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2022 figures, synthetic rubber (excluding latex) import price increased by +1.3% against October 2021 indices. The pace of growth was the most pronounced in April 2021 an increase of 14% month-to-month. The import price peaked at $3,586 per ton in January 2022, and then contracted in the following month.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($6,193 per ton), while the price for Taiwan (Chinese) ($2,739 per ton) was amongst the lowest.

From February 2021 to February 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Synthetic Rubber (Excluding Latex) in Colombia (FOB) - 2022

In 2021, the average synthetic rubber (excluding latex) export price amounted to $2,599 per ton, picking up by 5.8% against the previous year. Overall, the export price, however, saw a perceptible downturn. Over the period under review, the average export prices reached the maximum at $4,079 per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($4,351 per ton), while the average price for exports to Peru ($2,110 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+12.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Synthetic Rubber (Excluding Latex) in Colombia

In 2022, imports of synthetic rubber (excluding latex) into Colombia declined rapidly to 14K tons, which is down by -29.4% compared with 2021. In general, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2021 when imports increased by 23% against the previous year. As a result, imports attained the peak of 19K tons, and then reduced markedly in the following year.

In value terms, synthetic rubber (excluding latex) imports contracted to $47M in 2022. Overall, total imports indicated a notable increase from 2019 to 2022: its value increased at an average annual rate of +3.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 64% against the previous year. As a result, imports reached the peak of $51M, and then shrank in the following year.

Import of Synthetic Rubber (Excluding Latex) in Colombia (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
United States	12.2	8.0	12.1	-0.4%
South Korea	6.9	4.0	8.1	8.3%
Mexico	4.3	2.7	8.0	36.4%
China	2.9	3.8	5.6	39.0%
Germany	6.9	4.1	4.4	-20.1%
Taiwan (Chinese)	2.2	1.5	2.9	14.8%
Brazil	0.7	0.8	2.7	96.4%
Belgium	1.2	1.3	1.7	19.0%
France	1.1	0.6	1.0	-4.7%
Italy	1.5	0.9	0.6	-36.8%
Malaysia	0.5	0.3	0.4	-10.6%
Others	2.0	3.2	3.7	36.0%
Total	42.3	31.3	51.2	10.0%

Top Suppliers of Synthetic Rubber (Excluding Latex) to Colombia in 2022:

United States (4.6K tons)
South Korea (3.0K tons)
Mexico (2.7K tons)
China (2.1K tons)
Taiwan (Chinese) (1.2K tons)
Brazil (1.0K tons)
Germany (1.0K tons)
Belgium (0.7K tons)
Italy (0.4K tons)
France (0.4K tons)
Malaysia (0.2K tons)

Exports of Synthetic Rubber (Excluding Latex) in Colombia

In 2022, approx. 405 tons of synthetic rubber (excluding latex) were exported from Colombia; shrinking by -3.9% on the year before. Overall, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +7.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 77% against the previous year. As a result, the exports reached the peak of 421 tons, and then declined modestly in the following year.

In value terms, synthetic rubber (excluding latex) exports shrank to $997K in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +7.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 87%. As a result, the exports attained the peak of $1.1M, and then reduced in the following year.

Export of Synthetic Rubber (Excluding Latex) in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
Ecuador	501	357	599	9.3%
Argentina	N/A	N/A	105	0%
Venezuela	N/A	N/A	82.4	0%
Peru	49.9	7.4	78.7	25.6%
Guatemala	37.9	5.6	69.7	35.6%
Costa Rica	47.2	40.2	45.6	-1.7%
Dominican Republic	4.8	1.4	39.4	186.5%
Bolivia	N/A	N/A	36.9	0%
United States	N/A	12.5	N/A	0%
Netherlands	N/A	122	N/A	0%
Others	166	39.5	37.5	-52.5%
Total	806	586	1,095	16.6%

Top Export Markets for Synthetic Rubber (Excluding Latex) from Colombia in 2022:

Ecuador (201.8 tons)
Peru (37.3 tons)
Argentina (34.4 tons)
Venezuela (26.0 tons)
Guatemala (20.8 tons)
Dominican Republic (12.2 tons)
Bolivia (11.7 tons)
Costa Rica (10.5 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for synthetic rubber (excluding latex) in Colombia. 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 20171090 - Synthetic rubber (excluding latex)

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
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