U.S.: Rubber Product Market 2024

Rubber Product Market Size in the U.S.

In 2023, after two years of growth, there was decline in the U.S. rubber product market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2013 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Rubber Product Production in the U.S.

In value terms, rubber product production reduced to $X in 2023. The total output value increased at an average annual rate of X% from 2013 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Rubber Product Exports

Exports from the U.S.

In 2023, the amount of rubber products for mechanical use exported from the United States surged to X tons, increasing by X% on the previous year's figure. In general, exports, however, recorded a perceptible curtailment. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, rubber product exports amounted to $X in 2023. The total export value increased at an average annual rate of X% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for rubber product exports from the United States, with a X% share of total exports. It was followed by Poland (X tons), with a X% share of total exports.

From 2013 to 2023, the average annual rate of growth in terms of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Mexico (X% per year).

In value terms, Canada ($X) remains the key foreign market for rubber products for mechanical use exports from the United States, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports.

From 2013 to 2023, the average annual growth rate of value to Canada amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Poland (X% per year).

Export Prices by Country

The average rubber product export price stood at $X per ton in 2023, reducing by X% against the previous year. Overall, export price indicated tangible growth from 2013 to 2023: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, rubber product export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced mixed trend patterns.

Rubber Product Imports

Imports into the U.S.

In 2023, purchases abroad of rubber products for mechanical use decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, rubber product imports expanded to $X in 2023. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Czech Republic (X tons), Germany (X tons) and Canada (X tons) were the main suppliers of rubber product imports to the United States, together accounting for X% of total imports. China, Mexico, Italy, South Korea and Japan lagged somewhat behind, together comprising a further X%.

From 2013 to 2023, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Mexico ($X) and China ($X) constituted the largest rubber product suppliers to the United States, together comprising X% of total imports. Italy, Germany, South Korea, Japan and the Czech Republic lagged somewhat behind, together accounting for a further X%.

Italy, with a CAGR of X%, 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 product import price stood at $X per ton in 2023, picking up by X% against the previous year. In general, import price indicated a tangible expansion from 2013 to 2023: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, rubber product import price increased by X% against 2020 indices. The growth pace was the most rapid in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform