Brazil: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Brazil

In 2022, the Brazilian monocarboxylic acid market increased by 2.3% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, showed a mild decline. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Monocarboxylic Acid Production in Brazil

In value terms, monocarboxylic acid production declined to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced expansion. The growth pace was the most rapid in 2018 with an increase of 102% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Monocarboxylic Acid Exports

Exports from Brazil

In 2022, exports of acrylic acid and its salts and other monocarboxylic acid from Brazil soared to X tons, jumping by 71% compared with 2021. Overall, exports posted a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 11,757% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, monocarboxylic acid exports soared to $X in 2022. In general, exports saw a significant expansion. The growth pace was the most rapid in 2015 with an increase of 6,604% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for monocarboxylic acid exports from Brazil, accounting for a 53% share of total exports. Moreover, monocarboxylic acid exports to the United States exceeded the volume sent to the second major destination, Argentina (X tons), threefold. Colombia (X tons) ranked third in terms of total exports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +78.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+60.6% per year) and Colombia (+144.9% per year).

In value terms, the United States ($X) remains the key foreign market for acrylic acid and its salts and other monocarboxylic acid exports from Brazil, comprising 48% of total exports. The second position in the ranking was taken by Argentina ($X), with a 20% share of total exports. It was followed by Colombia, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +72.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+52.2% per year) and Colombia (+108.4% per year).

Export Prices by Country

The average monocarboxylic acid export price stood at $X per ton in 2022, growing by 21% against the previous year. In general, the export price, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2021 when the average export price increased by 47% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Uruguay ($X per ton) and Argentina ($X per ton), while the average price for exports to the United States ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+15.8%), while the prices for the other major destinations experienced a decline.

Monocarboxylic Acid Imports

Imports into Brazil

In 2022, after three years of decline, there was significant growth in overseas purchases of acrylic acid and its salts and other monocarboxylic acid, when their volume increased by 137% to X tons. Over the period under review, imports, however, saw a noticeable setback. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, monocarboxylic acid imports surged to $X in 2022. In general, imports recorded a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 55% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of monocarboxylic acid to Brazil, with a 84% share of total imports. Moreover, monocarboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), tenfold. Russia (X tons) ranked third in terms of total imports with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.7% per year) and Russia (+4.1% per year).

In value terms, China ($X) constituted the largest supplier of acrylic acid and its salts and other monocarboxylic acid to Brazil, comprising 73% of total imports. The second position in the ranking was taken by the United States ($X), with a 1.9% share of total imports. It was followed by Germany, with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.3% per year) and Germany (-24.4% per year).

Import Prices by Country

The average monocarboxylic acid import price stood at $X per ton in 2022, declining by -43.5% against the previous year. Overall, the import price, however, showed a resilient increase. The growth pace was the most rapid in 2021 when the average import price increased by 63% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced dramatically in the following year.

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 China ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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