Latin America and the Caribbean: Aramids Staple Market 2024

Aramids Staple Market Size in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in the Latin American aramids staple market, when its value increased by 104% to $X. The total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Aramids Staple Production in Latin America and the Caribbean

In value terms, aramids staple production dropped remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed significant growth. The growth pace was the most rapid in 2020 with an increase of 726%. As a result, production reached the peak level of $X, and then declined significantly in the following year.

Aramids Staple Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of aramids staple increased by 20% to X tons, rising for the third year in a row after two years of decline. Overall, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2020 when exports increased by 148%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, aramids staple exports rose rapidly to $X in 2021. In general, exports, however, showed a noticeable slump. The pace of growth appeared the most rapid in 2020 with an increase of 139% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil represented the largest exporter of aramids staple in Latin America and the Caribbean, with the volume of exports resulting at X tons, which was near 79% of total exports in 2021. Mexico (X tons) held the second position in the ranking, distantly followed by Colombia (X tons). All these countries together took approx. 18% share of total exports. Argentina (X tons) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the aramids staple exports, with a CAGR of +87.0% from 2012 to 2021. At the same time, Argentina (+85.7%) and Colombia (+50.4%) displayed positive paces of growth. By contrast, Mexico (-12.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil, Colombia and Argentina increased by +79, +4.4 and +2.7 percentage points, respectively.

In value terms, Brazil ($X) remains the largest aramids staple supplier in Latin America and the Caribbean, comprising 67% of total exports. The second position in the ranking was held by Mexico ($X), with a 21% share of total exports. It was followed by Argentina, with a 5.5% share.

In Brazil, aramids staple exports increased at an average annual rate of +70.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mexico (-18.4% per year) and Argentina (+113.5% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, shrinking by -10% against the previous year. Overall, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the export price increased by 67% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+15.0%), while the other leaders experienced mixed trends in the export price figures.

Aramids Staple Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of aramids staple were finally on the rise to reach X tons after two years of decline. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, aramids staple imports surged to $X in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Mexico prevails in imports structure, recording X tons, which was approx. 88% of total imports in 2021. It was distantly followed by Brazil (X tons), mixing up a 7% share of total imports. Honduras (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to aramids staple imports into Mexico stood at +9.6%. At the same time, Honduras (+32.8%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +32.8% from 2012-2021. By contrast, Brazil (-6.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico and Honduras increased by +18 and +1.7 percentage points, respectively.

In value terms, Mexico ($X) constitutes the largest market for imported aramids staple in Latin America and the Caribbean, comprising 87% of total imports. The second position in the ranking was held by Brazil ($X), with an 8.3% share of total imports.

In Mexico, aramids staple imports increased at an average annual rate of +5.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-7.5% per year) and Honduras (+15.1% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 2% against the previous year. In general, the import price, however, continues to indicate a perceptible contraction. The pace of growth was the most pronounced in 2020 when the import price increased by 16%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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