Chile: Amino Resin Market 2024

Amino Resin Market Size in Chile

The Chilean amino resin market contracted remarkably to $X in 2022, dropping by -29.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a significant expansion. Amino resin consumption peaked at $X in 2021, and then declined rapidly in the following year.

Amino Resin Exports

Exports from Chile

In 2022, approx. X tons of amino resins were exported from Chile; increasing by 90% compared with 2021 figures. Overall, exports saw a noticeable expansion. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, amino resin exports soared to $X in 2022. In general, exports enjoyed resilient growth. The pace of growth was the most pronounced in 2017 when exports increased by 110% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X tons) was the main destination for amino resin exports from Chile, accounting for a 84% share of total exports. Moreover, amino resin exports to Peru exceeded the volume sent to the second major destination, Ecuador (X tons), more than tenfold. Paraguay (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru stood at +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-4.2% per year) and Paraguay (+4.4% per year).

In value terms, Peru ($X) emerged as the key foreign market for amino resins exports from Chile, comprising 75% of total exports. The second position in the ranking was taken by Paraguay ($X), with an 8.4% share of total exports. It was followed by Ecuador, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to Peru amounted to +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+8.0% per year) and Ecuador (-4.2% per year).

Export Prices by Country

In 2022, the average amino resin export price amounted to $X per ton, growing by 5.5% against the previous year. In general, export price indicated pronounced growth from 2012 to 2022: its price 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, amino resin export price increased by +57.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 49% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in years to come.

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 Paraguay ($X per ton), while the average price for exports to Peru ($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 Panama (+29.2%), while the prices for the other major destinations experienced more modest paces of growth.

Amino Resin Imports

Imports into Chile

In 2022, amino resin imports into Chile reduced remarkably to X tons, which is down by -30.7% against 2021 figures. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 136%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined sharply in the following year.

In value terms, amino resin imports reduced notably to $X in 2022. Overall, imports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 188%. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of amino resin to Chile, with a 51% share of total imports. Moreover, amino resin imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Spain (X tons) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +27.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.7% per year) and Spain (+47.3% per year).

In value terms, China ($X) constituted the largest supplier of amino resins to Chile, comprising 50% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Brazil, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +30.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.6% per year) and Brazil (+8.0% per year).

Import Prices by Country

The average amino resin import price stood at $X per ton in 2022, surging by 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38%. The import price peaked in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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