Guatemala: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Guatemala

The Guatemalan plant-growth regulators market soared to $X in 2022, increasing by 127% against the previous year. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. 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.

Plant-Growth Regulators Production in Guatemala

In value terms, plant-growth regulators production expanded notably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by 24%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Plant-Growth Regulators Exports

Exports from Guatemala

In 2022, shipments abroad of plant-growth regulators decreased by -18.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 46%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank rapidly in the following year.

In value terms, plant-growth regulators exports rose markedly to $X in 2022. In general, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 41%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Nicaragua (X tons), Honduras (X tons) and El Salvador (X tons) were the main destinations of plant-growth regulators exports from Guatemala, with a combined 67% share of total exports. Colombia, Costa Rica, the Dominican Republic and Panama lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +34.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plant-growth regulators exported from Guatemala were Nicaragua ($X), Honduras ($X) and El Salvador ($X), together comprising 65% of total exports. Costa Rica, Colombia, Panama and the Dominican Republic lagged somewhat behind, together comprising a further 28%.

In terms of the main countries of destination, Colombia, with a CAGR of +39.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plant-growth regulators export price amounted to $X per ton, rising by 37% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. 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 Panama ($X per ton), while the average price for exports to Colombia ($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 (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports into Guatemala

In 2022, the amount of plant-growth regulators imported into Guatemala surged to X tons, picking up by 16% on 2021 figures. The total import volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 42% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, plant-growth regulators imports soared to $X in 2022. Over the period under review, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +113.5% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plant-growth regulators to Guatemala, with a 44% share of total imports. Moreover, plant-growth regulators imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. India (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-6.6% per year) and India (+39.2% per year).

In value terms, China ($X) constituted the largest supplier of plant-growth regulators to Guatemala, comprising 42% of total imports. The second position in the ranking was taken by Colombia ($X), with an 11% share of total imports. It was followed by Mexico, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+6.1% per year) and Mexico (-4.3% per year).

Import Prices by Country

The average plant-growth regulators import price stood at $X per ton in 2022, surging by 21% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. 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 ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform