Guatemala: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Guatemala

For the third year in a row, the Guatemalan phenylacetic acid market recorded decline in sales value, which decreased by X% to $X in 2022. In general, consumption continues to indicate a dramatic shrinkage. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Phenylacetic Acid Exports

Exports from Guatemala

In 2022, after three years of decline, there was growth in overseas shipments of phenylacetic acid, its salts and esters, when their volume increased by X% to X tons. In general, exports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, phenylacetic acid exports surged to $X in 2022. Over the period under review, exports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The Dominican Republic (X tons) was the main destination for phenylacetic acid exports from Guatemala, accounting for a X% share of total exports. Moreover, phenylacetic acid exports to the Dominican Republic exceeded the volume sent to the second major destination, El Salvador (X tons), fivefold. The third position in this ranking was held by Nicaragua (X tons), with a X% share.

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

In value terms, the Dominican Republic ($X) emerged as the key foreign market for phenylacetic acid, its salts and esters exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by El Salvador ($X), with a X% share of total exports. It was followed by Honduras, with a X% share.

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

Export Prices by Country

In 2022, the average phenylacetic acid export price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 an increase of X%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: 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 Honduras (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports into Guatemala

In 2022, supplies from abroad of phenylacetic acid, its salts and esters decreased by X% to X tons, falling for the ninth year in a row after two years of growth. Overall, imports saw a sharp decrease. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, phenylacetic acid imports stood at $X in 2022. Over the period under review, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest phenylacetic acid supplier to Guatemala, with a X% share of total imports. Moreover, phenylacetic acid imports from India exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold.

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

In value terms, India ($X), the United States ($X) and China ($X) appeared to be the largest phenylacetic acid suppliers to Guatemala, together accounting for X% of total imports.

Among the main suppliers, India, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average phenylacetic acid import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price saw buoyant growth. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform