Brazil: Alkyd Resins Market 2024

Alkyd Resins Market Size in Brazil

The Brazilian alkyd resins market fell to $X in 2022, waning by -7.1% against the previous year. In general, consumption recorded a noticeable decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Alkyd Resins Production in Brazil

In value terms, alkyd resins production shrank to $X in 2022 estimated in export price. Overall, production recorded a noticeable decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 23%. Alkyd resins production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Alkyd Resins Exports

Exports from Brazil

In 2022, exports of alkyd resins in primary forms from Brazil skyrocketed to X tons, rising by 39% compared with 2021. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 73% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, alkyd resins exports soared to $X in 2022. Over the period under review, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for alkyd resins exports from Brazil, accounting for a 43% share of total exports. Moreover, alkyd resins exports to the United States exceeded the volume sent to the second major destination, Paraguay (X tons), threefold. The third position in this ranking was taken by Canada (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +399.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+15.4% per year) and Canada (+66.4% per year).

In value terms, the United States ($X) emerged as the key foreign market for alkyd resins in primary forms exports from Brazil, comprising 53% of total exports. The second position in the ranking was held by Canada ($X), with a 13% share of total exports. It was followed by Paraguay, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +413.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+76.4% per year) and Paraguay (+15.7% per year).

Export Prices by Country

The average alkyd resins export price stood at $X per ton in 2022, increasing by 64% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, alkyd resins export price increased by +99.5% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into Brazil

In 2022, the amount of alkyd resins in primary forms imported into Brazil totaled X tons, with an increase of 1.9% against the previous year's figure. Overall, imports, however, continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 61% 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, alkyd resins imports skyrocketed to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 67%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Italy (X tons), the United States (X tons) and Argentina (X tons) were the main suppliers of alkyd resins imports to Brazil, together accounting for 81% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +21.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest alkyd resins suppliers to Brazil were Italy ($X), the United States ($X) and Argentina ($X), together accounting for 77% of total imports.

The United States, with a CAGR of +25.1%, 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 alkyd resins import price stood at $X per ton in 2022, growing by 26% against the previous year. Over the last decade, it increased at an average annual rate of +5.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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