Costa Rica: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Costa Rica

The Costa Rican phenylacetic acid market dropped slightly to $X in 2022, which is down by X% against the previous year. Over the period under review, the total consumption indicated notable growth 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, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Phenylacetic Acid Production in Costa Rica

In value terms, phenylacetic acid production dropped modestly to $X in 2022 estimated in export price. Overall, the total production indicated a perceptible 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Phenylacetic Acid Exports

Exports from Costa Rica

For the third consecutive year, Costa Rica recorded decline in shipments abroad of phenylacetic acid, its salts and esters, which decreased by X% to X kg in 2022. In general, exports saw a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, phenylacetic acid exports reduced rapidly to $X in 2022. Overall, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X kg) was the main destination for phenylacetic acid exports from Costa Rica, with a X% share of total exports. Moreover, phenylacetic acid exports to Venezuela exceeded the volume sent to the second major destination, Guatemala (X kg), tenfold.

From 2012 to 2022, the average annual growth rate of volume to Venezuela amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Panama (X% per year).

In value terms, Venezuela ($X) remains the key foreign market for phenylacetic acid, its salts and esters exports from Costa Rica, comprising X% of total exports. The second position in the ranking was taken by Guatemala ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Venezuela stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Panama (X% per year).

Export Prices by Country

The average phenylacetic acid export price stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price showed a prominent expansion. 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 Guatemala ($X per ton), while the average price for exports to Panama ($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 Guatemala (X%), while the prices for the other major destinations experienced mixed trend patterns.

Phenylacetic Acid Imports

Imports into Costa Rica

In 2022, overseas purchases of phenylacetic acid, its salts and esters decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when imports increased by X%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, phenylacetic acid imports soared to $X in 2022. Overall, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China (X kg), India (X kg) and the UK (X kg) were the main suppliers of phenylacetic acid imports to Costa Rica, together comprising X% of total imports. Spain, Italy and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of phenylacetic acid, its salts and esters to Costa Rica, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total imports. It was followed by India, with a X% share.

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

Import Prices by Country

The average phenylacetic acid import price stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price recorded a significant expansion. As a result, import price attained 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 Hong Kong SAR ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform