Latin America and the Caribbean: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in Latin America and the Caribbean

The Latin American market for isoprene rubber (IR) in primary forms fell markedly to $X in 2023, which is down by X% against the previous year. Overall, consumption saw a abrupt shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Production of Isoprene Rubber (IR) in Primary Forms in Latin America and the Caribbean

In value terms, production of isoprene rubber (IR) in primary forms fell dramatically to $X in 2023 estimated in export price. In general, production, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production of attained the peak level at $X in 2022, and then reduced notably in the following year.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports in Latin America and the Caribbean

After four years of growth, overseas shipments of isoprene rubber (IR) in primary forms decreased by X% to X tons in 2023. In general, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2022, and then contracted in the following year.

In value terms, exports of isoprene rubber (IR) in primary forms fell to $X in 2023. Over the period under review, exports, however, enjoyed perceptible growth. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Brazil dominates forms structure, amounting to X tons, which was near X% of total exports in 2023. Chile (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to isoprene rubber (IR) in primary form exports from Brazil stood at X%. At the same time, Chile (X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. While the share of Chile (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest isoprene rubber (IR) in primary form supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports.

In Brazil, exports of isoprene rubber (IR) in primary forms increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, falling by X% against the previous year. Overall, the export price showed a abrupt decline. The growth pace was the most rapid in 2022 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Chile stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Chile (X%).

Imports of Isoprene Rubber (IR) in Primary Forms

Imports in Latin America and the Caribbean

In 2023, the amount of isoprene rubber (IR) in primary forms imported in Latin America and the Caribbean reduced to X tons, dropping by X% against the previous year. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, imports of isoprene rubber (IR) in primary forms declined to $X in 2023. Over the period under review, imports saw a pronounced decline. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports of attained the maximum at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Brazil (X tons) represented the largest importer of isoprene rubber (IR) in primary forms, achieving X% of total imports. Mexico (X tons) took the second position in the ranking, distantly followed by Chile (X tons) and Argentina (X tons). All these countries together held approx. X% share of total imports. Peru (X tons), Colombia (X tons) and Ecuador (X tons) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of isoprene rubber (IR) in primary forms. At the same time, Argentina (X%), Mexico (X%) and Ecuador (X%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Peru experienced a relatively flat trend pattern. By contrast, Chile (X%) and Colombia (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.) and Argentina (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Colombia (X p.p.), Chile (X p.p.) and Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported isoprene rubber (IR) in primary forms in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with a X% share of total imports. It was followed by Chile, with an X% share.

In Brazil, imports of isoprene rubber (IR) in primary forms plunged by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Chile (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, saw a pronounced descent. The growth pace was the most rapid in 2022 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per ton), while Colombia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform