Guatemala: Chemically Modified Oils Market 2025

Chemically Modified Oils Market Size in Guatemala

In 2022, the Guatemalan chemically modified oils market decreased by -30.3% to $X, falling for the third consecutive year after six years of growth. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Chemically Modified Oils Production in Guatemala

In value terms, chemically modified oils production amounted to $X in 2022 estimated in export price. Over the period under review, production enjoyed resilient growth. The growth pace was the most rapid in 2014 when the production volume increased by 435% against the previous year. Chemically modified oils production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Chemically Modified Oils Exports

Exports from Guatemala

In 2022, chemically modified oils exports from Guatemala surged to X tons, jumping by 87% compared with the previous year's figure. In general, exports posted a significant increase. The growth pace was the most rapid in 2019 when exports increased by 677%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, chemically modified oils exports soared to $X in 2022. Overall, exports enjoyed significant growth. The growth pace was the most rapid in 2019 when exports increased by 391% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for chemically modified oils exports from Guatemala, accounting for a 81% share of total exports. Moreover, chemically modified oils exports to the Netherlands exceeded the volume sent to the second major destination, El Salvador (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands totaled +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+5.3% per year) and Singapore (0.0% per year).

In value terms, the Netherlands ($X) remains the key foreign market for animal or vegetable fats and oils chemically modified exports from Guatemala, comprising 66% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands totaled +57.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+22.1% per year) and Singapore (0.0% per year).

Export Prices by Country

In 2022, the average chemically modified oils export price amounted to $X per ton, surging by 6.2% against the previous year. In general, the export price posted strong growth. The growth pace was the most rapid in 2014 an increase of 217% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to the Netherlands ($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 El Salvador (+15.9%).

Chemically Modified Oils Imports

Imports into Guatemala

In 2022, imports of animal or vegetable fats and oils chemically modified into Guatemala declined rapidly to X tons, which is down by -84.9% against the previous year. Overall, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, chemically modified oils imports fell markedly to $X in 2022. In general, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 14% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Canada (X tons), Argentina (X tons) and El Salvador (X tons) were the main suppliers of chemically modified oils imports to Guatemala, together comprising 95% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of +35.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chemically modified oils suppliers to Guatemala were Argentina ($X), Canada ($X) and El Salvador ($X), with a combined 76% share of total imports.

In terms of the main suppliers, Argentina, with a CAGR of +39.1%, recorded 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

The average chemically modified oils import price stood at $X per ton in 2022, increasing by 59% against the previous year. Over the period under review, the import price saw perceptible growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+24.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform