Brazil: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Brazil

In 2022, the Brazilian carbon dioxide market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 -13.2% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Carbon Dioxide Production in Brazil

In value terms, carbon dioxide production rose slightly to $X in 2022 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -14.9% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 32%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Carbon Dioxide Exports

Exports from Brazil

In 2022, after three years of decline, there was significant growth in shipments abroad of carbon dioxide, when their volume increased by 38% to X tons. In general, exports continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2017 with an increase of 681%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, carbon dioxide exports surged to $X in 2022. Over the period under review, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 662%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Paraguay (X tons) was the main destination for carbon dioxide exports from Brazil, with a 53% share of total exports. Moreover, carbon dioxide exports to Paraguay exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by Portugal (X tons), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Paraguay totaled -5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+71.6% per year) and Portugal (+15.8% per year).

In value terms, Germany ($X) remains the key foreign market for carbon dioxide exports from Brazil, comprising 35% of total exports. The second position in the ranking was held by Paraguay ($X), with a 16% share of total exports. It was followed by Qatar, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+1.3% per year) and Qatar (-28.9% per year).

Export Prices by Country

In 2022, the average carbon dioxide export price amounted to $X per ton, declining by -15.9% against the previous year. In general, the export price, however, showed strong growth. The pace of growth was the most pronounced in 2019 an increase of 1,150% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Paraguay ($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 Angola (+54.9%), while the prices for the other major destinations experienced more modest paces of growth.

Carbon Dioxide Imports

Imports into Brazil

In 2022, after four years of growth, there was significant decline in supplies from abroad of carbon dioxide, when their volume decreased by -10.5% to X tons. Overall, imports saw a perceptible decline. The pace of growth appeared the most rapid in 2013 with an increase of 123% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, carbon dioxide imports soared to $X in 2022. Over the period under review, imports, however, showed a notable increase. The pace of growth appeared the most rapid in 2019 when imports increased by 91% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Italy (X tons), Argentina (X tons) and China (X tons) were the main suppliers of carbon dioxide imports to Brazil, with a combined 87% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +86.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest carbon dioxide suppliers to Brazil were Argentina ($X), Italy ($X) and China ($X), together comprising 81% of total imports.

China, with a CAGR of +96.4%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average carbon dioxide import price amounted to $X per ton, jumping by 33% against the previous year. In general, the import price showed a prominent increase. The pace of growth appeared the most rapid in 2014 an increase of 65%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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