Guatemala: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in Guatemala

After four years of growth, the Guatemalan polycarboxylic acid market decreased by -14.2% to $X in 2022. Over the period under review, consumption, however, showed strong growth. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Polycarboxylic Acid Exports

Exports from Guatemala

In 2022, shipments abroad of polycarboxylic acids increased by 38% to X tons, rising for the second consecutive year after two years of decline. Overall, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.2% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 44%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, polycarboxylic acid exports surged to $X in 2022. In general, exports saw a notable expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 64% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

El Salvador (X tons), the Dominican Republic (X tons) and Honduras (X tons) were the main destinations of polycarboxylic acid exports from Guatemala, with a combined 88% share of total exports. Costa Rica and Nicaragua lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of +24.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polycarboxylic acid exported from Guatemala were the Dominican Republic ($X), El Salvador ($X) and Honduras ($X), with a combined 92% share of total exports. Costa Rica and Nicaragua lagged somewhat behind, together accounting for a further 8%.

In terms of the main countries of destination, Costa Rica, with a CAGR of +33.8%, 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 polycarboxylic acid export price amounted to $X per ton, which is down by -1.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2016 when the average export price increased by 49%. The export price peaked at $X per ton in 2021, and then reduced slightly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to El Salvador ($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 (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Polycarboxylic Acid Imports

Imports into Guatemala

In 2022, supplies from abroad of polycarboxylic acids decreased by -23.4% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 30% against the previous year. Imports peaked at X tons in 2021, and then fell remarkably in the following year.

In value terms, polycarboxylic acid imports fell to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 70%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest polycarboxylic acid supplier to Guatemala, accounting for a 49% share of total imports. Moreover, polycarboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+2.7% per year) and Russia (-0.7% per year).

In value terms, China ($X) constituted the largest supplier of polycarboxylic acids to Guatemala, comprising 47% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by Malaysia, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+2.8% per year) and Malaysia (+148.5% per year).

Import Prices by Country

In 2022, the average polycarboxylic acid import price amounted to $X per ton, surging by 18% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 46%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform