Ecuador: Market for Prepared Glues And Other Prepared Adhesives 2024

Market Size for Prepared Glues And Other Prepared Adhesives in Ecuador

In 2021, the Ecuadorian market for prepared glues and other prepared adhesives increased by 90% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Prepared Glues And Other Prepared Adhesives

Exports from Ecuador

In 2021, shipments abroad of prepared glues and other prepared adhesives decreased by -11.8% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, total exports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +81.0% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 45%. As a result, the exports reached the peak of X tons, and then declined in the following year.

In value terms, exports of prepared glues and other prepared adhesives reduced dramatically to $X in 2021. Over the period under review, exports, however, showed buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 50%. Over the period under review, the exports of hit record highs at $X in 2020, and then dropped rapidly in the following year.

Exports by Country

Peru (X tons) was the main destination for exports of prepared glues and other prepared adhesives from Ecuador, accounting for a 74% share of total exports. Moreover, exports of prepared glues and other prepared adhesives to Peru exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Costa Rica (X tons), with a 24% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Peru was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+384.5% per year) and Costa Rica (+185.5% per year).

In value terms, Peru ($X) remains the key foreign market for prepared glues and other prepared adhesives exports from Ecuador, comprising 53% of total exports. The second position in the ranking was taken by Chile ($X), with a 24% share of total exports. It was followed by the United States, with a 20% share.

From 2012 to 2021, the average annual growth rate of value to Peru was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+124.8% per year) and the United States (+309.7% per year).

Export Prices by Country

The average export price for prepared glues and other prepared adhesives stood at $X per ton in 2021, waning by -7.2% against the previous year. In general, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for prepared glues and other prepared adhesives decreased by -15.5% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by 22%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Bolivia ($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 Costa Rica (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Glues And Other Prepared Adhesives

Imports into Ecuador

In 2021, overseas purchases of prepared glues and other prepared adhesives increased by 68% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of prepared glues and other prepared adhesives skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X tons), Chile (X tons) and China (X tons) were the main suppliers of imports of prepared glues and other prepared adhesives to Ecuador, together comprising 44% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +14.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared glues and other prepared adhesives suppliers to Ecuador were Mexico ($X), the United States ($X) and China ($X), together comprising 42% of total imports. These countries were followed by Brazil, Colombia, Chile, Germany, Spain, Taiwan (Chinese) and Italy, which together accounted for a further 33%.

Chile, with a CAGR of +10.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for prepared glues and other prepared adhesives stood at $X per ton in 2021, dropping by -1.9% against the previous year. Overall, the import price showed a pronounced reduction. The most prominent rate of growth was recorded in 2019 an increase of 6.3% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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