Latin America and the Caribbean: Market for 2,2-Oxydiethanol (Diethylene Glycol, Digol) 2024

Market Size for 2,2-Oxydiethanol (Diethylene Glycol, Digol) in Latin America and the Caribbean

For the third year in a row, the Latin American diethylene glycol and digol market recorded growth in sales value, which increased by 74% to $X in 2021. Over the period under review, consumption recorded a buoyant expansion. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Production of X-Oxydiethanol (Diethylene Glycol, Digol) in Latin America and the Caribbean

In value terms, diethylene glycol and digol production stood at $X in 2021 estimated in export price. Overall, production, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 57%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Exports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Exports in Latin America and the Caribbean

In 2021, exports of X-oxydiethanol (diethylene glycol, digol) in Latin America and the Caribbean shrank markedly to X tons, declining by -37.5% against 2020. In general, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 34%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, diethylene glycol and digol exports reduced to $X in 2021. Overall, exports recorded a abrupt decline. The growth pace was the most rapid in 2014 when exports increased by 42%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Venezuela represented the main exporter of X-oxydiethanol (diethylene glycol, digol) in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was approx. 67% of total exports in 2021. It was distantly followed by Mexico (X tons), creating a 26% share of total exports. Brazil (X tons) and Guatemala (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to diethylene glycol and digol exports from Venezuela stood at -5.0%. At the same time, Guatemala (+7.7%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +7.7% from 2012-2021. By contrast, Mexico (-1.0%) and Brazil (-16.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico increased by +8.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest diethylene glycol and digol supplying countries in Latin America and the Caribbean were Venezuela ($X), Mexico ($X) and Brazil ($X), together accounting for 95% of total exports. Guatemala lagged somewhat behind, comprising a further 2.7%.

In terms of the main exporting countries, Guatemala, with a CAGR of +10.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of 42% against the previous year. In general, the export price, however, continues to indicate a noticeable setback. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Guatemala ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+2.7%), while the other leaders experienced a decline in the export price figures.

Imports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Imports in Latin America and the Caribbean

In 2021, the amount of X-oxydiethanol (diethylene glycol, digol) imported in Latin America and the Caribbean surged to X tons, with an increase of 62% on the previous year. In general, imports saw a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by 76%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, diethylene glycol and digol imports surged to $X in 2021. Overall, imports enjoyed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico was the largest importer of X-oxydiethanol (diethylene glycol, digol) in Latin America and the Caribbean, with the volume of imports resulting at X tons, which was near 62% of total imports in 2021. Brazil (X tons) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (6.3%) and Argentina (4.8%). Guatemala (X tons), Peru (X tons) and Venezuela (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to diethylene glycol and digol imports into Mexico stood at +14.3%. At the same time, Venezuela (+60.2%), Guatemala (+6.9%), Colombia (+3.1%) and Brazil (+1.4%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +60.2% from 2012-2021. Peru experienced a relatively flat trend pattern. By contrast, Argentina (-3.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico and Venezuela increased by +26 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported X-oxydiethanol (diethylene glycol, digol) in Latin America and the Caribbean, comprising 57% of total imports. The second position in the ranking was held by Brazil ($X), with a 19% share of total imports. It was followed by Colombia, with an 8% share.

In Mexico, diethylene glycol and digol imports increased at an average annual rate of +13.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+1.4% per year) and Colombia (+3.6% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 22% against the previous year. Over the period under review, the import price, however, saw a slight contraction. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Venezuela ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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