Ecuador: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in Ecuador

The Ecuadorian o-acetylsalicylic acid market soared to $X in 2021, rising by 36% against the previous year. Overall, the total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +65.1% against 2018 indices. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

O-Acetylsalicylic Acid Production in Ecuador

In value terms, o-acetylsalicylic acid production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 11% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then fell modestly in the following year.

O-Acetylsalicylic Acid Exports

Exports from Ecuador

In 2021, approx. X tons of o-acetylsalicylic acid, its salts and esters were exported from Ecuador; with a decrease of -49.8% against the year before. Overall, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 169% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, o-acetylsalicylic acid exports dropped dramatically to $X in 2021. In general, exports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 181% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) was the main destination for o-acetylsalicylic acid exports from Ecuador, accounting for a 44% share of total exports. Moreover, o-acetylsalicylic acid exports to Brazil exceeded the volume sent to the second major destination, Chile (X tons), twofold. Peru (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Brazil amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+25.7% per year) and Peru (+18.4% per year).

In value terms, Brazil ($X), Chile ($X) and Peru ($X) were the largest markets for o-acetylsalicylic acid exported from Ecuador worldwide, with a combined 75% share of total exports. Canada, Bolivia, the Dominican Republic, Paraguay and Colombia lagged somewhat behind, together accounting for a further 25%.

Among the main countries of destination, the Dominican Republic, with a CAGR of +34.8%, 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

The average o-acetylsalicylic acid export price stood at $X per ton in 2021, rising by 6.5% against the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 10%. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

O-Acetylsalicylic Acid Imports

Imports into Ecuador

O-acetylsalicylic acid imports into Ecuador skyrocketed to X tons in 2021, increasing by 102% on the previous year. In general, imports saw mild growth. The most prominent rate of growth was recorded in 2016 when imports increased by 132% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, o-acetylsalicylic acid imports surged to $X in 2021. Overall, imports recorded a measured increase. The most prominent rate of growth was recorded in 2016 when imports increased by 192% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, China (X tons) was the main supplier of o-acetylsalicylic acid to Ecuador, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled +12.1%.

In value terms, China ($X) constituted the largest supplier of o-acetylsalicylic acid, its salts and esters to Ecuador.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +17.0%.

Import Prices by Country

The average o-acetylsalicylic acid import price stood at $X per ton in 2021, rising by 8.7% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 30% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +4.4% per year.

Source: IndexBox Platform

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