Cuba: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in Cuba

In 2021, the Cuban saturated acyclic monocarboxylic acids market increased by 54% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption showed strong growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Saturated Acyclic Monocarboxylic Acids in Cuba

In value terms, saturated acyclic monocarboxylic acids production fell to $X in 2021 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +14.5% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 47%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports from Cuba

In 2017, approx. X tons of saturated acyclic monocarboxylic acids were exported from Cuba; stabilizing at the previous year's figure. In general, exports saw a significant expansion. The smallest decline of 99.9% was in 2016. Over the period under review, the exports hit record highs in 2017 and are likely to continue growth in the near future.

In value terms, saturated acyclic monocarboxylic acids exports amounted to $X in 2017. Over the period under review, exports continue to indicate a significant increase. The smallest decline of 99.9% was in 2016. The exports peaked in 2017 and are expected to retain growth in the near future.

Exports by Country

Switzerland (X tons) was the main destination for saturated acyclic monocarboxylic acids exports from Cuba, with a approx. 50% share of total exports.

From 2015 to 2017, the average annual rate of growth in terms of volume to Switzerland was relatively modest.

From 2015 to 2017, the average annual growth rate of value to Switzerland was relatively modest.

Export Prices by Country

In 2017, the average saturated acyclic monocarboxylic acids export price amounted to $X per ton, almost unchanged from the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price decreased by 99.9%. The export price peaked in 2017 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Switzerland.

From 2015 to 2017, the rate of growth in terms of prices for Switzerland amounted to 0.0% per year.

Imports of Saturated Acyclic Monocarboxylic Acids

Imports into Cuba

In 2021, approx. X tons of saturated acyclic monocarboxylic acids were imported into Cuba; increasing by 47% compared with the previous year's figure. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +120.9% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 68% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, saturated acyclic monocarboxylic acids imports surged to $X in 2021. In general, imports showed strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest saturated acyclic monocarboxylic acids supplier to Cuba, with a 17% share of total imports. Moreover, saturated acyclic monocarboxylic acids imports from Spain exceeded the figures recorded by the second-largest supplier, Canada (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+26.7% per year) and Italy (+55.1% per year).

In value terms, Spain ($X) constituted the largest supplier of saturated acyclic monocarboxylic acids to Cuba, comprising 21% of total imports. The second position in the ranking was taken by Germany ($X), with a 1.2% share of total imports. It was followed by Italy, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-18.6% per year) and Italy (+45.4% per year).

Import Prices by Country

In 2021, the average saturated acyclic monocarboxylic acids import price amounted to $X per ton, surging by 5.9% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, saturated acyclic monocarboxylic acids import price increased by +3.5% against 2018 indices. The pace of growth was the most pronounced in 2015 an increase of 44%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+38.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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