Latin America and the Caribbean: Vulcanised Rubber Thread Market 2023

Vulcanised Rubber Thread Market Size in Latin America and the Caribbean

The Latin American vulcanised rubber thread market surged to $X in 2021, rising by 31% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Vulcanised Rubber Thread Production in Latin America and the Caribbean

In value terms, vulcanised rubber thread production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced contraction. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Vulcanised Rubber Thread Exports

Exports in Latin America and the Caribbean

In 2021, approx. X tons of vulcanised rubber thread and cord were exported in Latin America and the Caribbean; declining by -38.8% compared with 2020 figures. Over the period under review, exports, however, showed a mild expansion. The pace of growth was the most pronounced in 2019 with an increase of 76%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, vulcanised rubber thread exports shrank slightly to $X in 2021. Overall, exports, however, recorded a measured expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 36% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons) and Guatemala (X tons) dominates exports structure, together making up 78% of total exports. It was distantly followed by Peru (X tons), committing a 6.5% share of total exports. The Dominican Republic (X tons), Mexico (X tons), Colombia (X tons) and Argentina (X tons) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Guatemala (with a CAGR of +59.6%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the largest vulcanised rubber thread supplier in Latin America and the Caribbean, comprising 82% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a 3.9% share of total exports. It was followed by Guatemala, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled +13.2%. In the other countries, the average annual rates were as follows: the Dominican Republic (-7.9% per year) and Guatemala (+45.7% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, jumping by 58% against the previous year. Export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+5.9%), while the other leaders experienced more modest paces of growth.

Vulcanised Rubber Thread Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of vulcanised rubber thread and cord increased by 10% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, vulcanised rubber thread imports skyrocketed to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +69.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 30% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Brazil was the largest importing country with an import of around X tons, which resulted at 40% of total imports. Mexico (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (9.8%), Colombia (8.9%) and Peru (8.7%). El Salvador (X tons) and Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to vulcanised rubber thread imports into Brazil stood at +4.9%. At the same time, Colombia (+7.9%), Argentina (+5.7%), Mexico (+3.0%), Peru (+2.1%) and Ecuador (+2.0%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +7.9% from 2012-2021. By contrast, El Salvador (-2.9%) illustrated a downward trend over the same period. Brazil (+5.6 p.p.), Colombia (+2.9 p.p.) and Argentina (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while El Salvador saw its share reduced by -2.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported vulcanised rubber thread and cord in Latin America and the Caribbean, comprising 37% of total imports. The second position in the ranking was taken by Mexico ($X), with a 17% share of total imports. It was followed by Argentina, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil amounted to +2.5%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+0.9% per year) and Argentina (+4.5% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 18% against the previous year. Over the period under review, the import price, however, showed a noticeable curtailment. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in El Salvador ($X per ton) and Ecuador ($X per ton), while Colombia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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