Guatemala: Market for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike 2024

Market Size for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in Guatemala

The Guatemalan gum or wood oils market shrank to $X in 2022, declining by X% against the previous year. In general, consumption continues to indicate a deep slump. Gum or wood oils consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in Guatemala

In value terms, gum or wood oils production reduced to $X in 2022 estimated in export price. In general, production, however, saw a abrupt contraction. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Gum or wood oils production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Exports from Guatemala

In 2022, the amount of gum, wood or sulphate turpentine oils, pine oil and other alike exported from Guatemala skyrocketed to X tons, growing by X% against the previous year's figure. Overall, exports, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, gum or wood oils exports surged to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for gum or wood oils exports from Guatemala, with a X% share of total exports. Moreover, gum or wood oils exports to the Dominican Republic exceeded the volume sent to the second major destination, Honduras (X tons), twofold. The third position in this ranking was held by Costa Rica (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Dominican Republic amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (X% per year) and Costa Rica (X% per year).

In value terms, the Dominican Republic ($X), Honduras ($X) and Costa Rica ($X) appeared to be the largest markets for gum or wood oils exported from Guatemala worldwide, with a combined X% share of total exports.

Among the main countries of destination, Honduras, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average gum or wood oils export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gum or wood oils export price increased by X% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Nicaragua ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Imports into Guatemala

For the third consecutive year, Guatemala recorded decline in overseas purchases of gum, wood or sulphate turpentine oils, pine oil and other alike, which decreased by X% to X tons in 2022. Over the period under review, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, gum or wood oils imports fell markedly to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of gum or wood oils to Guatemala, accounting for a X% share of total imports. Moreover, gum or wood oils imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Spain (X% per year).

In value terms, the United States ($X) constituted the largest supplier of gum, wood or sulphate turpentine oils, pine oil and other alike to Guatemala, comprising X% of total imports. The second position in the ranking was taken by Spain ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the average gum or wood oils import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price continues to indicate strong growth. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 Spain ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform