Latin America and the Caribbean: Alkyd Resins Market 2024

Alkyd Resins Market Size in Latin America and the Caribbean

The Latin American alkyd resins market fell to $X in 2022, reducing by -6.2% against the previous year. Over the period under review, consumption saw a pronounced reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Alkyd Resins Production in Latin America and the Caribbean

In value terms, alkyd resins production declined slightly to $X in 2022 estimated in export price. In general, production saw a noticeable reduction. The pace of growth was the most pronounced in 2017 with an increase of 8.2%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Alkyd Resins Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of alkyd resins in primary forms increased by 9.4% to X tons, rising for the fourth year in a row after two years of decline. Total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.8% 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 +67.9% against 2018 indices. The growth pace was the most rapid in 2021 when exports increased by 35%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, alkyd resins exports soared to $X in 2022. Over the period under review, exports showed prominent growth. The growth pace was the most rapid in 2021 with an increase of 62%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

The Dominican Republic (X tons) and Mexico (X tons) represented roughly 63% of total exports in 2022. It was distantly followed by Colombia (X tons), Brazil (X tons) and Argentina (X tons), together mixing up a 34% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Brazil (with a CAGR of +26.9%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), the Dominican Republic ($X) and Brazil ($X) constituted the countries with the highest levels of exports in 2022, with a combined 85% share of total exports.

Brazil, with a CAGR of +29.3%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 47% against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, alkyd resins export price increased by +76.4% against 2020 indices. 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+7.1%), while the other leaders experienced more modest paces of growth.

Alkyd Resins Imports

Imports in Latin America and the Caribbean

In 2022, imports of alkyd resins in primary forms in Latin America and the Caribbean contracted dramatically to X tons, reducing by -22.2% on 2021 figures. Over the period under review, imports showed a slight downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 32% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, alkyd resins imports dropped to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 57% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Guatemala (X tons), Costa Rica (X tons) and El Salvador (X tons) represented roughly 39% of total imports in 2022. Paraguay (X tons) ranks next in terms of the total imports with a 6.5% share, followed by Brazil (6.4%), Mexico (6.2%) and the Dominican Republic (5%). Guyana (X tons), Jamaica (X tons), Uruguay (X tons), Trinidad and Tobago (X tons), Honduras (X tons) and Chile (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Costa Rica (with a CAGR of +3.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest alkyd resins importing markets in Latin America and the Caribbean were Guatemala ($X), Brazil ($X) and El Salvador ($X), with a combined 37% share of total imports.

El Salvador, with a CAGR of +5.1%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2021 an increase of 19% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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