Chile: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Chile

In 2021, the Chilean carboxylic acid market increased by 11% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Carboxylic Acid Production in Chile

In value terms, carboxylic acid production shrank to $X in 2021 estimated in export price. Over the period under review, production saw a perceptible decrease. The most prominent rate of growth was recorded in 2018 with an increase of 27% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Carboxylic Acid Exports

Exports from Chile

In 2021, the amount of carboxylic acid with alcohol, phenol, aldehyde or ketone functions exported from Chile contracted to X tons, reducing by -7.5% against the previous year's figure. Over the period under review, exports, however, showed a moderate expansion. The pace of growth appeared the most rapid in 2018 with an increase of 92%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, carboxylic acid exports fell to $X in 2021. Overall, exports showed a perceptible contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 150%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Argentina (X tons) was the main destination for carboxylic acid exports from Chile, accounting for a 49% share of total exports. Moreover, carboxylic acid exports to Argentina exceeded the volume sent to the second major destination, France (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume to Argentina amounted to +33.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+7.3% per year) and the United States (-10.7% per year).

In value terms, the largest markets for carboxylic acid exported from Chile were Argentina ($X), France ($X) and the United States ($X), with a combined 54% share of total exports. These countries were followed by Brazil, Mexico, New Zealand, Peru, Japan, Colombia, Australia and Italy, which together accounted for a further 39%.

Peru, with a CAGR of +27.3%, saw the highest growth rate of 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 2021, the average carboxylic acid export price amounted to $X per ton, dropping by -7.2% against the previous year. Overall, the export price saw a deep reduction. The growth pace was the most rapid in 2018 an increase of 30%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to Italy ($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 Japan (-1.3%), while the prices for the other major destinations experienced a decline.

Carboxylic Acid Imports

Imports into Chile

After two years of decline, supplies from abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions increased by 32% to X tons in 2021. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% 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.

In value terms, carboxylic acid imports soared to $X in 2021. In general, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% 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 +12.5% against 2018 indices. The pace of growth was the most pronounced in 2018 when imports increased by 32% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest carboxylic acid supplier to Chile, with a 53% share of total imports. Moreover, carboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. Argentina (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+120.1% per year) and Argentina (+3.8% per year).

In value terms, China ($X) constituted the largest supplier of carboxylic acid with alcohol, phenol, aldehyde or ketone functions to Chile, comprising 45% of total imports. The second position in the ranking was held by Argentina ($X), with an 11% share of total imports. It was followed by Italy, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+2.1% per year) and Italy (-1.2% per year).

Import Prices by Country

In 2021, the average carboxylic acid import price amounted to $X per ton, falling by -2.6% against the previous year. Over the period under review, the import price saw a pronounced setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by 22%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, 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 Italy ($X per ton), while the price for Belgium ($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 (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :