Cuba: Market for Rubber-to-Metal and Moulded Articles 2024

Market Size for Rubber-to-Metal and Moulded Articles in Cuba

In 2021, the Cuban rubber-to-metal and moulded article market was finally on the rise to reach $X for the first time since 2015, thus ending a five-year declining trend. In general, consumption enjoyed measured growth. Rubber-to-metal and moulded article consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Exports of Rubber-to-Metal and Moulded Articles

Exports from Cuba

In 2021, after three years of growth, there was significant decline in shipments abroad of rubber-to-metal and moulded articles, when their volume decreased by -94.7% to X kg. In general, exports showed a sharp contraction. The growth pace was the most rapid in 2014 when exports increased by 345%. Over the period under review, the exports reached the peak figure at X kg in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, rubber-to-metal and moulded article exports dropped remarkably to $X in 2021. Overall, exports recorded a precipitous curtailment. The growth pace was the most rapid in 2014 when exports increased by 357% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Venezuela (X kg), Bosnia and Herzegovina (X kg) and Canada (X kg) were the main destinations of rubber-to-metal and moulded article exports from Cuba, together accounting for 78% of total exports. Moreover, rubber-to-metal and moulded article exports in Venezuela exceeded the figures recorded by the second-largest exporter, Bosnia and Herzegovina, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bosnia and Herzegovina (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, Bosnia and Herzegovina ($X), Venezuela ($X) and Canada ($X) were the largest markets for rubber-to-metal and moulded article exported from Cuba worldwide, together comprising 76% of total exports.

Bosnia and Herzegovina, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average rubber-to-metal and moulded article export price amounted to $X per ton, increasing by 80% against the previous year. In general, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked 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 external markets. In 2021, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Belgium ($X 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 France (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rubber-to-Metal and Moulded Articles

Imports into Cuba

In 2021, purchases abroad of rubber-to-metal and moulded articles was finally on the rise to reach X tons for the first time since 2015, thus ending a five-year declining trend. Over the period under review, imports posted a temperate expansion. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, rubber-to-metal and moulded article imports skyrocketed to $X in 2021. In general, imports posted mild growth. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X tons), Spain (X tons) and Austria (X tons) were the main suppliers of rubber-to-metal and moulded article imports to Cuba, together comprising 34% of total imports. China, Russia, Canada, Slovakia, Mexico, Panama and Thailand lagged somewhat behind, together comprising a further 8.8%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +71.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and Canada ($X) constituted the largest rubber-to-metal and moulded article suppliers to Cuba, with a combined 40% share of total imports. China, Russia, Austria, Mexico, Slovakia, Panama and Thailand lagged somewhat behind, together accounting for a further 6.9%.

Slovakia, with a CAGR of +94.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rubber-to-metal and moulded article import price stood at $X per ton in 2021, which is down by -11.8% against the previous year. Over the period under review, the import price showed a mild curtailment. The pace of growth was the most pronounced in 2019 an increase of 36% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a 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 Thailand ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+27.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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