Latin America and the Caribbean: Tyre Cord Fabric Market 2024

Tyre Cord Fabric Market Size in Latin America and the Caribbean

In 2023, the Latin American tyre cord fabric market increased by X% to $X for the first time since 2019, thus ending a three-year declining trend. The total consumption indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market remained at a lower figure.

Tyre Cord Fabric Production in Latin America and the Caribbean

In value terms, tyre cord fabric production contracted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Tyre Cord Fabric Exports

Exports in Latin America and the Caribbean

In 2023, shipments abroad of tyre cord fabric of high tenacity yarn was finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, tyre cord fabric exports fell to $X in 2023. In general, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Colombia represented the major exporter of tyre cord fabric of high tenacity yarn in Latin America and the Caribbean, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. Brazil (X tons) held the second position in the ranking, followed by Mexico (X tons). All these countries together took near X% share of total exports.

Colombia was also the fastest-growing in terms of the tyre cord fabric of high tenacity yarn exports, with a CAGR of X% from 2012 to 2023. Brazil (X%) and Mexico (X%) illustrated a downward trend over the same period. Colombia (X p.p.) significantly strengthened its position in terms of the total exports, while Mexico and Brazil saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Colombia ($X) remains the largest tyre cord fabric supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Colombia stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Mexico (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, declining by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced a decline in the export price figures.

Tyre Cord Fabric Imports

Imports in Latin America and the Caribbean

In 2023, tyre cord fabric imports in Latin America and the Caribbean contracted to X tons, shrinking by X% on the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, tyre cord fabric imports shrank significantly to $X in 2023. Over the period under review, imports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Brazil represented the major importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Mexico (X tons), Argentina (X tons), Chile (X tons) and Costa Rica (X tons), together generating a X% share of total imports. The following importers - Peru (X tons) and Ecuador (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to tyre cord fabric imports into Brazil stood at X%. At the same time, Chile (X%), Costa Rica (X%) and Mexico (X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Ecuador (X%), Argentina (X%) and Peru (X%) illustrated a downward trend over the same period. Brazil (X p.p.), Mexico (X p.p.), Chile (X p.p.) and Costa Rica (X p.p.) significantly strengthened its position in terms of the total imports, while Peru and Argentina saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported tyre cord fabric of high tenacity yarn in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with a X% share of total imports. It was followed by Argentina, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Brazil amounted to X%. In the other countries, the average annual rates were as follows: Mexico (X% per year) and Argentina (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price saw a mild slump. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Ecuador ($X per ton) and Argentina ($X per ton), while Chile ($X per ton) and Costa Rica ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform