Brazil: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Brazil

The Brazilian composite laboratory reagents market surged to $X in 2022, increasing by 23% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Composite Laboratory Reagents Production in Brazil

In value terms, composite laboratory reagents production expanded sharply to $X in 2022 estimated in export price. In general, the total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 -9.5% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 61%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Composite Laboratory Reagents Exports

Exports from Brazil

In 2022, the amount of composite diagnostic or laboratory reagents exported from Brazil reduced rapidly to X tons, declining by -48.9% compared with 2021. Overall, exports, however, showed buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by 134% against the previous year. As a result, the exports attained the peak of X tons, and then plummeted in the following year.

In value terms, composite laboratory reagents exports expanded notably to $X in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 494%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Mexico (X tons), Colombia (X tons) and Argentina (X tons) were the main destinations of composite laboratory reagents exports from Brazil, with a combined 48% share of total exports. Chile, Peru, Ecuador, Costa Rica, Panama, Barbados, El Salvador, the United States and Paraguay lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the biggest increases were recorded for Barbados (with a CAGR of +22,205.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for composite laboratory reagents exported from Brazil were Mexico ($X), Argentina ($X) and the United States ($X), together comprising 30% of total exports. Colombia, Chile, Panama, Peru, Ecuador, Paraguay, Barbados, Costa Rica and El Salvador lagged somewhat behind, together comprising a further 30%.

Barbados, with a CAGR of +18,055.9%, 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

In 2022, the average composite laboratory reagents export price amounted to $X per ton, picking up by 107% against the previous year. Over the period under review, the export price saw a significant expansion. The most prominent rate of growth was recorded in 2020 an increase of 497% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to El Salvador ($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 Costa Rica (+26.3%), while the prices for the other major destinations experienced more modest paces of growth.

Composite Laboratory Reagents Imports

Imports into Brazil

After two years of growth, overseas purchases of composite diagnostic or laboratory reagents decreased by -4.8% to X tons in 2022. Over the period under review, imports showed a slight decline. The most prominent rate of growth was recorded in 2020 with an increase of 21%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, composite laboratory reagents imports reduced slightly to $X in 2022. Overall, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2020 when imports increased by 74% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then fell slightly in the following year.

Imports by Country

The United States (X tons), China (X tons) and Germany (X tons) were the main suppliers of composite laboratory reagents imports to Brazil, with a combined 68% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +10.9%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of composite diagnostic or laboratory reagents to Brazil, comprising 37% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.6% per year) and China (+39.3% per year).

Import Prices by Country

The average composite laboratory reagents import price stood at $X per ton in 2022, approximately equating the previous year. In general, the import price enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 an increase of 44%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+25.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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