Mexico's Heterocyclic Compound Imports Hit a Low of $112 Million in 2023

Mexico Heterocyclic Compound Imports

After three years of growth, overseas purchases of heterocyclic compounds decreased by -22.1% to 15K tons in 2023. In general, total imports indicated a measured increase from 2013 to 2023: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 21%. Imports peaked at 20K tons in 2022, and then declined markedly in the following year.

In value terms, heterocyclic compound imports contracted rapidly to $112M (IndexBox estimates) in 2023. Overall, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2022 with an increase of 31% against the previous year. Imports peaked at $242M in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (11K tons) constituted the largest supplier of heterocyclic compound to Mexico, accounting for a 73% share of total imports. Moreover, heterocyclic compound imports from China exceeded the figures recorded by the second-largest supplier, the United States (1.6K tons), sevenfold. India (1.5K tons) ranked third in terms of total imports with a 9.6% share.

From 2013 to 2023, the average annual growth rate of volume from China amounted to +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.2% per year) and India (+0.0% per year).

In value terms, the largest heterocyclic compound suppliers to Mexico were China ($50M), India ($26M) and the United States ($20M), with a combined 86% share of total imports.

China, with a CAGR of +9.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Imports by Type

In 2023, heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts (15K tons) was the main type of heterocyclic compounds supplied to Mexico, with a 100% share of total imports. It was followed by heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts (31 tons), with a 0.2% share of total imports. The third position in this ranking was taken by heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts (10 tons), with a 0.1% share.

From 2013 to 2023, the average annual growth rate of the volume of heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts imports stood at +2.0%. With regard to the other supplied products, the following average annual rates of growth were recorded: heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts (-3.3% per year) and heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts (-1.7% per year).

In value terms, heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts ($111M) constituted the largest type of heterocyclic compounds supplied to Mexico, comprising 99% of total imports. The second position in the ranking was taken by heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts ($491K), with a 0.4% share of total imports. It was followed by heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, piperidine and its salts, with a 0.4% share.

Import Prices by Country

In 2023, the heterocyclic compound price stood at $7,343 per ton (CIF, Mexico), dropping by -16.5% against the previous year. Overall, the import price continues to indicate a deep downturn. The growth pace was the most rapid in 2022 an increase of 27% against the previous year. Over the period under review, average import prices hit record highs at $19,281 per ton in 2013; however, from 2014 to 2023, import prices remained at a 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 India ($17,938 per ton), while the price for Taiwan (Chinese) ($2,751 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by India (+3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform