Natural latex in primary forms market in Latin America and the Caribbean

Earlier Report Observations

The market for natural latex in primary forms in Latin America and the Caribbean saw consistent volume growth from 2018 to 2023, with production increasing from 410.6 thousand tons to 529.4 thousand tons and total market volume rising from 426.9 thousand tons to 530.8 thousand tons. This expansion was supported by sustained global demand, particularly from major importing countries like China, Malaysia, and Vietnam, which bolstered regional production and trade flows. The market's physical growth remained resilient despite fluctuations in trade volumes.

In value terms, the market peaked at 1.13 billion dollars in 2022 before moderating to 995 million dollars in 2023. The 2022 increase coincided with significant export activity from Mexican states such as Chiapas, where state-influenced producers played a key role in international sales. Additionally, purchasing activity in related natural gum products in Baja California indicated broader industrial demand that contributed to market dynamics during this period.

By 2024, new commercial origins like Guatemala emerged as important suppliers of natural latex, reflecting shifts in regional trade patterns. Consumer preference for natural latex in mattress manufacturing, coupled with the rise of e-commerce, further influenced demand. Import concentration in industrial centers such as Jalisco, Mexico City, and Estado de México underscored the market's reliance on established commercial hubs for distribution.

Production natural latex in primary forms in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of natural latex in primary forms, 2017-2020

World map of production of natural latex in primary forms, 2017-2020

Natural latex production in primary forms in Latin America and the Caribbean has grown for the third year in a row. In 2020, the region produced 464.5 thousand tons, marking a 7.1% increase compared to 2019. Looking at the period from 2017 to 2020, production rose by 17.1%, which translates to an average annual growth rate of 5.4%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Following a two-year decline, the production value of natural latex in primary forms in Latin America and the Caribbean rebounded. In 2020, output was valued at 760.0 million US dollars, representing a 15.7% increase over the previous year. From 2017 to 2020, production value grew by 4.2%, averaging 1.4% per year. The lowest value was recorded in 2019 at 657.1 million US dollars, while the largest decline occurred in 2018 with an 8.2% drop.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports natural latex in primary forms from Latin America and the Caribbean

Exports in kind, t

Export volumes of natural latex in primary forms from Latin America and the Caribbean increased for the second consecutive year. In 2020, exports reached 41 366 tons, up 9.6% from the prior year. Between 2017 and 2020, exports grew by 11.5%, equating to an annualized rate of 3.7%. The lowest volume was recorded in 2018 at 34 768 tons, which also saw the largest decline of 6.3% that year.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

From 2017 to 2020, the export structure in kind was diversified, with no single country dominating. The United States accounted for 13.7% of exports, Belgium for 8.3%, and the Netherlands for 1.4%, together making up just 23.4% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

Export values of natural latex in primary forms from Latin America and the Caribbean rose for the second year in a row. In 2020, exports totaled 67.7 million US dollars, an 18.3% increase compared to 2019. The lowest value was recorded in 2018 at 56.7 million US dollars, which also experienced the largest decline of 16.9% that year.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

Between 2017 and 2020, export values were broadly distributed across markets. The United States held 13.6% of exports, Belgium 8.5%, and the Netherlands 1.4%, collectively accounting for only 23.5% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports natural latex in primary forms to Latin America and the Caribbean

Imports in kind, t

Import volumes of natural latex in primary forms into Latin America and the Caribbean declined for the second consecutive year. In 2020, imports stood at 34 343 tons, showing a moderate 8.5% decrease from the previous year. Over the 2017-2020 period, imports fell by 27.2%, with a compound annual growth rate of -10.0%. The highest volume was recorded in 2018 at 51 014 tons, which saw an 8.2% increase that year. The largest decline occurred in 2019 with a 26.4% drop.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

From 2017 to 2020, imports in kind were spread across many countries. Thailand accounted for 27.6% of imports, Vietnam for 12.0%, and Malaysia for 3.3%, together making up 42.8% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

Import values of natural latex in primary forms into Latin America and the Caribbean decreased for the third consecutive year. In 2020, imports were valued at 82.0 million US dollars, down 2.6% from 2019. Over the 2017-2020 period, imports declined by 19.3%, with a compound annual growth rate of -6.9%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

During 2017-2020, import values were relatively evenly distributed. Thailand represented 27.9% of imports, Vietnam 10.4%, and Malaysia 3.6%, jointly accounting for 42.0% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020