Brazil: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Brazil

In 2021, after two years of decline, there was significant growth in the Brazilian carboxylic acid market, when its value increased by 19% to $X. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Carboxylic Acid Production in Brazil

In value terms, carboxylic acid production declined slightly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a perceptible contraction. The growth pace was the most rapid in 2013 with an increase of 19% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Carboxylic Acid Exports

Exports from Brazil

After five years of growth, shipments abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions decreased by -9.9% to X tons in 2021. In general, exports, however, posted strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 101%. The exports peaked at X tons in 2020, and then reduced in the following year.

In value terms, carboxylic acid exports shrank remarkably to $X in 2021. Over the period under review, total exports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 29%. The exports peaked at $X in 2020, and then declined dramatically in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for carboxylic acid exports from Brazil, with a 60% share of total exports. Moreover, carboxylic acid exports to the Netherlands exceeded the volume sent to the second major destination, Argentina (X tons), ninefold. The third position in this ranking was held by the United States (X tons), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands amounted to +45.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-2.6% per year) and the United States (+32.1% per year).

In value terms, India ($X), Italy ($X) and the Netherlands ($X) constituted the largest markets for carboxylic acid exported from Brazil worldwide, with a combined 81% share of total exports.

The Netherlands, with a CAGR of +35.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average carboxylic acid export price stood at $X per ton in 2021, with a decrease of -10% against the previous year. Overall, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 23%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into Brazil

In 2021, approx. X tons of carboxylic acid with alcohol, phenol, aldehyde or ketone functions were imported into Brazil; increasing by 21% against 2020 figures. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +82.3% against 2013 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, carboxylic acid imports skyrocketed to $X in 2021. Overall, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of carboxylic acid to Brazil, with a 49% share of total imports. Moreover, carboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The United States (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+12.7% per year) and the United States (-2.7% per year).

In value terms, China ($X) constituted the largest supplier of carboxylic acid with alcohol, phenol, aldehyde or ketone functions to Brazil, comprising 37% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by the United States, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+12.0% per year) and the United States (-1.4% per year).

Import Prices by Country

The average carboxylic acid import price stood at $X per ton in 2021, picking up by 6.1% against the previous year. In general, the import price, however, saw a slight slump. The pace of growth appeared the most rapid in 2014 when the average import price increased by 6.5%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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