Guatemala: Nucleic Acid Market 2024

Nucleic Acid Market Size in Guatemala

In 2022, the Guatemalan nucleic acid market decreased by -14.9% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption showed a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2021, and then shrank in the following year.

Nucleic Acid Exports

Exports from Guatemala

In 2022, overseas shipments of nucleic acids and their salts increased by 43% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, recorded a mild slump. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, nucleic acid exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 133%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Honduras (X tons) was the main destination for nucleic acid exports from Guatemala, accounting for a 55% share of total exports. Moreover, nucleic acid exports to Honduras exceeded the volume sent to the second major destination, El Salvador (X tons), threefold. Costa Rica (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Honduras amounted to +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-11.3% per year) and Costa Rica (+0.7% per year).

In value terms, Honduras ($X) remains the key foreign market for nucleic acids and their salts exports from Guatemala, comprising 53% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 19% share of total exports. It was followed by Mexico, with a 9% share.

From 2012 to 2022, the average annual growth rate of value to Honduras amounted to +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-9.0% per year) and Mexico (+3.9% per year).

Export Prices by Country

The average nucleic acid export price stood at $X per ton in 2022, growing by 11% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 179%. As a result, the export price attained the peak level of $X per ton. From 2017 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 Mexico ($X per ton), while the average price for exports to Panama ($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 Nicaragua (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Nucleic Acid Imports

Imports into Guatemala

Nucleic acid imports into Guatemala rose sharply to X tons in 2022, with an increase of 15% on 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.7% 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 +13.6% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 42% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, nucleic acid imports dropped dramatically to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 69% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of nucleic acid to Guatemala, with a 48% share of total imports. Moreover, nucleic acid imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+46.0% per year) and Germany (+8.9% per year).

In value terms, the largest nucleic acid suppliers to Guatemala were Germany ($X), China ($X) and India ($X), together comprising 81% of total imports. These countries were followed by Uruguay, Japan, the United States, Thailand, Indonesia and Mexico, which together accounted for a further 13%.

In terms of the main suppliers, Uruguay, with a CAGR of +59.0%, 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

In 2022, the average nucleic acid import price amounted to $X per ton, falling by -32.3% against the previous year. Over the period under review, the import price, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2020 an increase of 90% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then declined remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform