Latin America and the Caribbean: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in Latin America and the Caribbean

In 2022, the Latin American benzoyl peroxide and chloride market increased by 208% to $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption, however, saw a mild downturn. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Benzoyl Peroxide And Benzoyl Chloride in Latin America and the Caribbean

In value terms, benzoyl peroxide and chloride production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a pronounced shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 33%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports in Latin America and the Caribbean

In 2022, shipments abroad of benzoyl peroxide and benzoyl chloride decreased by -93.5% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of 70% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank markedly in the following year.

In value terms, benzoyl peroxide and chloride exports reduced markedly to $X in 2022. Overall, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2019 when exports increased by 40%. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced rapidly in the following year.

Exports by Country

In 2022, Mexico (X tons) and Brazil (X tons) were the largest exporters of benzoyl peroxide and benzoyl chloride in Latin America and the Caribbean, together finishing at approx. 73% of total exports. Colombia (X tons) ranks next in terms of the total exports with a 14% share, followed by Peru (8.7%). Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Brazil (with a CAGR of +52.7%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Colombia ($X) were the countries with the highest levels of exports in 2022, together comprising 88% of total exports. Peru and Argentina lagged somewhat behind, together accounting for a further 9.8%.

Among the main exporting countries, Peru, with a CAGR of +43.9%, 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

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 18% against the previous year. In general, the export price, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2015 when the export price increased by 40% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

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 Argentina ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+1.6%), while the other leaders experienced a decline in the export price figures.

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports in Latin America and the Caribbean

In 2022, benzoyl peroxide and chloride imports in Latin America and the Caribbean contracted to X tons, declining by -12.4% compared with the previous year's figure. Over the period under review, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2017 with an increase of 21%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, benzoyl peroxide and chloride imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 20%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) was the main importer of benzoyl peroxide and benzoyl chloride, generating 49% of total imports. Mexico (X tons) held the second position in the ranking, followed by Chile (X tons), Argentina (X tons), Colombia (X tons) and Bahamas (X tons). All these countries together took approx. 37% share of total imports. Peru (X tons) followed a long way behind the leaders.

Imports into Brazil increased at an average annual rate of +4.9% from 2012 to 2022. At the same time, Colombia (+5.5%), Chile (+2.1%) and Argentina (+1.2%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +5.5% from 2012-2022. Bahamas experienced a relatively flat trend pattern. By contrast, Peru (-4.4%) and Mexico (-15.3%) illustrated a downward trend over the same period. Brazil (+26 p.p.), Colombia (+3.4 p.p.), Chile (+2.9 p.p.), Argentina (+2.3 p.p.) and Bahamas (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Mexico saw its share reduced by -32.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported benzoyl peroxide and benzoyl chloride in Latin America and the Caribbean, comprising 41% of total imports. The second position in the ranking was taken by Chile ($X), with an 8.9% share of total imports. It was followed by Argentina, with an 8.3% share.

In Brazil, benzoyl peroxide and chloride imports expanded at an average annual rate of +9.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Chile (+5.7% per year) and Argentina (+13.0% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by 26% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. The pace of growth was the most pronounced in 2015 an increase of 27%. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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