Costa Rica: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in Costa Rica

The Costa Rican polyphenols and phenol-alcohols market rose slightly to $X in 2022, with an increase of 4.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a temperate expansion. Polyphenols and phenol-alcohols consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Polyphenols And Phenol-Alcohols Exports

Exports from Costa Rica

In 2022, polyphenols and phenol-alcohols exports from Costa Rica totaled X tons, approximately mirroring 2021. In general, exports saw strong growth. The pace of growth appeared the most rapid in 2017 when exports increased by 3,975%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, polyphenols and phenol-alcohols exports reached $X in 2022. Overall, exports posted strong growth. The pace of growth was the most pronounced in 2017 when exports increased by 2,254%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Nicaragua (X tons) was the main destination for polyphenols and phenol-alcohols exports from Costa Rica, with a 68% share of total exports. Moreover, polyphenols and phenol-alcohols exports to Nicaragua exceeded the volume sent to the second major destination, Guatemala (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nicaragua stood at +21.9%.

In value terms, the largest markets for polyphenols and phenol-alcohols exported from Costa Rica were Nicaragua ($X) and Guatemala ($X).

Nicaragua, with a CAGR of +43.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average polyphenols and phenol-alcohols export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Nicaragua stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Polyphenols And Phenol-Alcohols Imports

Imports into Costa Rica

In 2022, imports of polyphenols and phenol-alcohols into Costa Rica fell to X tons, declining by -14.9% on 2021 figures. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 49%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, polyphenols and phenol-alcohols imports stood at $X in 2022. Over the period under review, imports, however, saw noticeable growth. The most prominent rate of growth was recorded in 2018 when imports increased by 64% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest polyphenols and phenol-alcohols supplier to Costa Rica, accounting for a 53% share of total imports. Moreover, polyphenols and phenol-alcohols imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was held by the United States (X tons), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+54.8% per year) and the United States (-7.0% per year).

In value terms, China ($X) constituted the largest supplier of polyphenols and phenol-alcohols to Costa Rica, comprising 51% of total imports. The second position in the ranking was held by India ($X), with a 21% share of total imports. It was followed by the United States, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +25.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+53.0% per year) and the United States (-7.6% per year).

Import Prices by Country

The average polyphenols and phenol-alcohols import price stood at $X per ton in 2022, increasing by 29% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and the United States ($X per ton), while the price for Japan ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform