Argentina: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in Argentina

In 2022, the Argentinian market for compounds with other nitrogen function (excluding isocyanates) was finally on the rise to reach $X after two years of decline. In general, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -30.2% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in Argentina

In value terms, compounds with other nitrogen function production fell to $X in 2022 estimated in export price. In general, production, however, saw a resilient expansion. The growth pace was the most rapid in 2017 when the production volume increased by 106%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports from Argentina

After two years of growth, shipments abroad of compounds with other nitrogen function (excluding isocyanates) decreased by -91.9% to X tons in 2022. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 30,262% against the previous year. As a result, the exports reached the peak of X tons, and then dropped rapidly in the following year.

In value terms, compounds with other nitrogen function exports reduced sharply to $X in 2022. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 4,456%. As a result, the exports attained the peak of $X, and then plummeted in the following year.

Exports by Country

Germany (X tons) was the main destination for compounds with other nitrogen function exports from Argentina, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at -91.3%.

In value terms, Germany ($X) also remains the key foreign market for compounds with other nitrogen function (excluding isocyanates) exports from Argentina.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled -48.9%.

Export Prices by Country

The average export price for compounds with other nitrogen function (excluding isocyanates) stood at $X per ton in 2022, jumping by 532% against the previous year. In general, the export price saw a temperate expansion. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Germany.

From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to +487.5% per year.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports into Argentina

In 2022, purchases abroad of compounds with other nitrogen function (excluding isocyanates) decreased by -5% to X tons, falling for the second consecutive year after two years of growth. In general, imports showed a deep setback. The most prominent rate of growth was recorded in 2020 when imports increased by 32% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, compounds with other nitrogen function imports soared to $X in 2022. Overall, total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +117.6% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Thailand (X tons) and Italy (X tons) were the main suppliers of compounds with other nitrogen function imports to Argentina, together accounting for 97% of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +353.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and the United States ($X) appeared to be the largest compounds with other nitrogen function suppliers to Argentina, together accounting for 94% of total imports.

Among the main suppliers, Thailand, with a CAGR of +490.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for compounds with other nitrogen function (excluding isocyanates) amounted to $X per ton, with an increase of 44% against the previous year. Overall, the import price continues to indicate resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+30.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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