Chile: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Chile

The Chilean urea and thiourea resins market shrank slightly to $X in 2022, dropping by -1.6% against the previous year. In general, consumption, however, continues to indicate a noticeable setback. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Urea Resins And Thiourea Resins In Primary Forms in Chile

In value terms, urea and thiourea resins production fell to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible slump. The growth pace was the most rapid in 2017 with an increase of 47% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from Chile

In 2022, after four years of growth, there was significant decline in overseas shipments of urea resins and thiourea resins in primary forms, when their volume decreased by -85.1% to X tons. In general, exports showed a deep reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 915% against the previous year. As a result, the exports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, urea and thiourea resins exports shrank sharply to $X in 2022. Overall, exports recorded a noticeable descent. The most prominent rate of growth was recorded in 2021 when exports increased by 844%. As a result, the exports reached the peak of $X, and then contracted significantly in the following year.

Exports by Country

Argentina (X tons) was the main destination for urea and thiourea resins exports from Chile, with a 92% share of total exports. Moreover, urea and thiourea resins exports to Argentina exceeded the volume sent to the second major destination, Peru (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Argentina stood at +101.8%.

In value terms, Argentina ($X) remains the key foreign market for urea resins and thiourea resins in primary forms exports from Chile, comprising 87% of total exports. The second position in the ranking was taken by Peru ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Argentina stood at +76.4%.

Export Prices by Country

In 2022, the average urea and thiourea resins export price amounted to $X per ton, increasing by 38% against the previous year. Over the period under review, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 50%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Argentina totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+10.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into Chile

In 2022, after two years of growth, there was significant decline in purchases abroad of urea resins and thiourea resins in primary forms, when their volume decreased by -44.5% to X tons. In general, imports, however, enjoyed a moderate increase. The pace of growth appeared the most rapid in 2021 when imports increased by 120% against the previous year. As a result, imports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, urea and thiourea resins imports declined dramatically to $X in 2022. Overall, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 110%. As a result, imports reached the peak of $X, and then contracted significantly in the following year.

Imports by Country

Brazil (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of urea and thiourea resins imports to Chile, together accounting for 74% of total imports. The United States, Mexico, Spain, Israel and Norway lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +136.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest urea and thiourea resins suppliers to Chile were Brazil ($X), Germany ($X) and the United States ($X), with a combined 77% share of total imports. Spain, Italy, Israel, Mexico and Norway lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, Spain, with a CAGR of +102.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average urea and thiourea resins import price stood at $X per ton in 2022, rising by 35% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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