Ecuador: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Ecuador

The Ecuadorian odoriferous substance mixture market fell to $X in 2022, which is down by -8.1% against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +11.7% against 2020 indices. Odoriferous substance mixture consumption peaked at $X in 2021, and then dropped in the following year.

Odoriferous Substance Mixture Production in Ecuador

In value terms, odoriferous substance mixture production rose modestly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 20%. Odoriferous substance mixture production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Odoriferous Substance Mixture Exports

Exports from Ecuador

Odoriferous substance mixture exports from Ecuador contracted to X tons in 2022, declining by -8.9% against the previous year's figure. In general, exports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 74%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, odoriferous substance mixture exports amounted to $X in 2022. Overall, exports, however, showed a buoyant increase. The growth pace was the most rapid in 2016 when exports increased by 107%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), the United States (X tons) and Ireland (X tons) were the main destinations of odoriferous substance mixture exports from Ecuador, with a combined 69% share of total exports. Spain, Colombia, the UK, Sudan and France lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +77.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for odoriferous substance mixture exported from Ecuador were Colombia ($X), Ireland ($X) and the United States ($X), with a combined 52% share of total exports. The Netherlands, Spain, Sudan, the UK and France lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, the UK, with a CAGR of +62.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, picking up by 19% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the average export price increased by 42%. The export price peaked in 2022 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 Colombia ($X per ton), while the average price for exports to the Netherlands ($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 France (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Ecuador

In 2022, imports of mixtures of odoriferous substances and their preparations into Ecuador contracted to X tons, with a decrease of -6.3% on the previous year's figure. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 23%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, odoriferous substance mixture imports contracted to $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.6% 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 +10.1% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 39% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Colombia (X tons), Mexico (X tons) and Uruguay (X tons) were the main suppliers of odoriferous substance mixture imports to Ecuador, with a combined 69% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of +10.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Uruguay ($X) and Mexico ($X) constituted the largest odoriferous substance mixture suppliers to Ecuador, with a combined 64% share of total imports.

In terms of the main suppliers, Uruguay, with a CAGR of +18.1%, 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

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, falling by -2.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 14% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then shrank modestly in the following year.

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 Uruguay ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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