Latin America and the Caribbean: Carboxylic Acid Market 2025

Carboxylic Acid Market Size in Latin America and the Caribbean

The Latin American carboxylic acid market skyrocketed to $X in 2021, jumping by 17% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Carboxylic Acid Production in Latin America and the Caribbean

In value terms, carboxylic acid production reached $X in 2021 estimated in export price. Over the period under review, production showed a pronounced setback. The most prominent rate of growth was recorded in 2013 with an increase of 4.3% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Carboxylic Acid Exports

Exports in Latin America and the Caribbean

In 2021, the amount of carboxylic acid with alcohol, phenol, aldehyde or ketone functions exported in Latin America and the Caribbean shrank to X tons, declining by -8.7% on 2020. Total exports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +6.8% against 2014 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 38% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then dropped in the following year.

In value terms, carboxylic acid exports contracted sharply to $X in 2021. Overall, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 20%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil was the key exporting country with an export of around X tons, which resulted at 77% of total exports. Argentina (X tons) took the second position in the ranking, followed by Chile (X tons). All these countries together took approx. 20% share of total exports.

Brazil was also the fastest-growing in terms of the carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports, with a CAGR of +13.0% from 2012 to 2021. At the same time, Chile (+4.1%) displayed positive paces of growth. By contrast, Argentina (-9.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil and Chile increased by +48 and +1.9 percentage points, respectively.

In value terms, Brazil ($X) remains the largest carboxylic acid supplier in Latin America and the Caribbean, comprising 74% of total exports. The second position in the ranking was held by Argentina ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled +4.0%. In the other countries, the average annual rates were as follows: Argentina (-11.8% per year) and Chile (-4.9% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, declining by -10.5% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2016 when the export price increased by 2.1%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Argentina ($X per ton), while Chile ($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 (-2.3%), while the other leaders experienced a decline in the export price figures.

Carboxylic Acid Imports

Imports in Latin America and the Caribbean

Carboxylic acid imports surged to X tons in 2021, increasing by 27% on the previous year's figure. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, carboxylic acid imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil was the largest importer of carboxylic acid with alcohol, phenol, aldehyde or ketone functions in Latin America and the Caribbean, with the volume of imports reaching X tons, which was approx. 39% of total imports in 2021. It was distantly followed by Mexico (X tons), Colombia (X tons), Argentina (X tons) and Chile (X tons), together constituting a 46% share of total imports. The following importers - Venezuela (X tons) and Guatemala (X tons) - together made up 6.7% of total imports.

Imports into Brazil increased at an average annual rate of +6.0% from 2012 to 2021. At the same time, Colombia (+9.3%), Chile (+6.1%), Mexico (+3.4%), Argentina (+1.8%) and Guatemala (+1.4%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +9.3% from 2012-2021. By contrast, Venezuela (-13.1%) illustrated a downward trend over the same period. While the share of Brazil (+9 p.p.) and Colombia (+4.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Venezuela (-14.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest carboxylic acid importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Argentina ($X), with a combined 79% share of total imports. These countries were followed by Colombia, Chile, Guatemala and Venezuela, which together accounted for a further 14%.

Colombia, with a CAGR of +4.6%, 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 2021, the import price in Latin America and the Caribbean amounted to $X per ton, dropping by -3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 13%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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