Puerto Rico: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Puerto Rico

In 2021, the Puerto Rican conveyor or transmission belt market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Conveyor Or Transmission Belts Or Belting in Puerto Rico

In value terms, conveyor or transmission belt production declined modestly to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 41% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Conveyor Or Transmission Belts Or Belting

Exports from Puerto Rico

In 2021, conveyor or transmission belt exports from Puerto Rico stood at less than X kg, approximately mirroring 2020 figures. Over the period under review, exports showed a relatively flat trend pattern.

In value terms, conveyor or transmission belt exports amounted to less than $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern.

Exports by Country

China was the largest exporting country with an export of about X tons, which amounted to 45% of total exports. The United States (X tons) held an 8.5% share (based on physical terms) of total exports, which put it in second place, followed by Germany (4.6%). Turkey (X tons), Poland (X tons), India (X tons), the Netherlands (X tons), Taiwan (Chinese) (X tons), Japan (X tons), Hungary (X tons), Thailand (X tons), Romania (X tons) and Russia (X tons) took a little share of total exports.

Exports from China increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Turkey (+14.3%), Germany (+9.0%), the Netherlands (+3.5%), India (+3.1%), Russia (+3.0%) and Thailand (+2.3%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.3% from 2012-2021. Poland, Hungary, Romania and the United States experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-3.3%) and Japan (-7.0%) illustrated a downward trend over the same period. While the share of China (+12 p.p.), Turkey (+2.9 p.p.) and Germany (+2.1 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the United States (-2.3 p.p.) and Japan (-2.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest conveyor or transmission belt supplying countries from Puerto Rico were China ($X), Germany ($X) and the United States ($X), with a combined 41% share of total exports. Japan, Poland, the Netherlands, India, Thailand, Romania, Turkey, Taiwan (Chinese), Hungary and Russia lagged somewhat behind, together comprising a further 27%.

In terms of the main exporting countries, Turkey, with a CAGR of +11.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, approximately mirroring the previous year. In general, the export price saw a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.8%), while the other leaders experienced more modest paces of growth.

Imports of Conveyor Or Transmission Belts Or Belting

Imports into Puerto Rico

In 2021, conveyor or transmission belt imports into Puerto Rico was estimated at less than X kg, stabilizing at 2020. Overall, imports recorded a relatively flat trend pattern.

In value terms, conveyor or transmission belt imports totaled less than $X in 2021. Over the period under review, imports saw a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons), followed by Germany (X tons) represented the major importers of conveyor or transmission belts or belting, together achieving 16% of total imports. Russia (X tons), Brazil (X tons), the Netherlands (X tons), Australia (X tons), South Africa (X tons), South Korea (X tons), Italy (X tons), Indonesia (X tons), France (X tons), India (X tons) and China (X tons) followed a long way behind the leaders.

The United States experienced a relatively flat trend pattern with regard to volume of imports of conveyor or transmission belts or belting. At the same time, South Korea (+8.9%), the Netherlands (+5.6%), Brazil (+3.7%), India (+3.1%), Italy (+2.4%), South Africa (+2.1%), Russia (+1.3%) and France (+1.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +8.9% from 2012-2021. Indonesia, Germany and China experienced a relatively flat trend pattern. By contrast, Australia (-9.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Australia decreased by -4.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest conveyor or transmission belt importing markets into Puerto Rico were the United States ($X), Germany ($X) and Russia ($X), with a combined 21% share of total imports. France, China, Italy, Australia, Brazil, the Netherlands, South Korea, Indonesia, India and South Africa lagged somewhat behind, together comprising a further 25%.

South Korea, with a CAGR of +4.3%, recorded the highest growth rate of the value of imports, among the main importing countries 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 Puerto Rico stood at less than $X per ton in 2021, approximately reflecting the previous year. In general, the import price continues to indicate a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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