Costa Rica: M-Xylene And Xylenes Market 2024

M-Xylene And Xylenes Market Size in Costa Rica

In 2022, the Costa Rican m-xylene and xylenes market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, recorded a deep setback. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

M-Xylene And Xylenes Exports

Exports from Costa Rica

In 2022, shipments abroad of m-xylene and mixed xylene isomers increased by 58% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt shrinkage. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, m-xylene and xylenes exports skyrocketed to $X in 2022. Over the period under review, exports, however, faced a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 54%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X tons), Honduras (X tons) and Nicaragua (X tons) were the main destinations of m-xylene and xylenes exports from Costa Rica, together comprising 97% of total exports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +11.1%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for m-xylene and xylenes exported from Costa Rica were Nicaragua ($X), Honduras ($X) and Panama ($X), together comprising 97% of total exports.

Panama, with a CAGR of -1.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average m-xylene and xylenes export price amounted to $X per ton, which is down by -10.9% against the previous year. In general, the export price showed a noticeable downturn. The growth pace was the most rapid in 2021 when the average export price increased by 12%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a 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 the United States ($X per ton), while the average price for exports to Panama ($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 the United States (+26.5%), while the prices for the other major destinations experienced a decline.

M-Xylene And Xylenes Imports

Imports into Costa Rica

In 2022, approx. X tons of m-xylene and mixed xylene isomers were imported into Costa Rica; increasing by 6.4% compared with the year before. Overall, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 604%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, m-xylene and xylenes imports skyrocketed to $X in 2022. In general, imports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2014 with an increase of 600%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest m-xylene and xylenes supplier to Costa Rica, accounting for a 63% share of total imports. Moreover, m-xylene and xylenes imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. Nicaragua (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+16.8% per year) and Nicaragua (-16.9% per year).

In value terms, the United States ($X) constituted the largest supplier of m-xylene and mixed xylene isomers to Costa Rica, comprising 63% of total imports. The second position in the ranking was held by Nicaragua ($X), with a 12% share of total imports. It was followed by the Netherlands, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Nicaragua (-6.3% per year) and the Netherlands (+26.9% per year).

Import Prices by Country

The average m-xylene and xylenes import price stood at $X per ton in 2022, growing by 32% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 79% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform