Costa Rica: Phenols Market 2024

Phenols Market Size in Costa Rica

The Costa Rican phenols market reached $X in 2022, surging by X% against the previous year. Over the period under review, consumption continues to indicate a strong increase. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Phenols Production in Costa Rica

In value terms, phenols production rose to $X in 2022 estimated in export price. In general, production continues to indicate a strong expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Phenols Exports

Exports from Costa Rica

In 2022, shipments abroad of phenols decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports showed a abrupt downturn. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, phenols exports dropped dramatically to $X in 2022. Overall, exports recorded a mild contraction. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

Guatemala (X tons), Nicaragua (X tons) and Panama (X kg) were the main destinations of phenols exports from Costa Rica, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Nicaragua ($X), Guatemala ($X) and Panama ($X) constituted the largest markets for phenols exported from Costa Rica worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Nicaragua, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average phenols export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price posted a prominent increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Panama ($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 Nicaragua (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenols Imports

Imports into Costa Rica

In 2022, imports of phenols into Costa Rica stood at X tons, surging by X% on the year before. Overall, imports, however, continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, phenols imports surged to $X in 2022. In general, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of phenols to Costa Rica, accounting for a X% share of total imports. Moreover, phenols imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by India (X tons), with a X% share.

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

In value terms, the largest phenols suppliers to Costa Rica were China ($X), the United States ($X) and India ($X), together accounting for X% of total imports.

In terms of the main suppliers, India, with a CAGR of X%, saw the highest rates of growth with regard to 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 phenols import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform