Latin America and the Caribbean: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Latin America and the Caribbean

The Latin American azo- or azoxy-compounds market stood at $X in 2022, increasing by 3.2% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Azo- Or Azoxy-Compounds Production in Latin America and the Caribbean

In value terms, azo- or azoxy-compounds production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2019 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Azo- Or Azoxy-Compounds Exports

Exports in Latin America and the Caribbean

For the fourth consecutive year, LatAmerica and the Caribbean recorded growth in shipments abroad of diazo-, azo- or azoxy-compounds, which increased by 1.5% to X tons in 2022. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +6.3% against 2015 indices. The most prominent rate of growth was recorded in 2015 with an increase of 38% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, azo- or azoxy-compounds exports reduced to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +77.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 33% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

In 2022, Mexico (X tons) was the key exporter of diazo-, azo- or azoxy-compounds in Latin America and the Caribbean, achieving 98% of total export.

Mexico was also the fastest-growing in terms of the diazo-, azo- or azoxy-compounds exports, with a CAGR of +7.1% from 2012 to 2022. From 2012 to 2022, the share of Mexico increased by +13 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) also remains the largest azo- or azoxy-compounds supplier in Latin America and the Caribbean.

In Mexico, azo- or azoxy-compounds exports increased at an average annual rate of +5.2% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -6.6% against the previous year. Over the period under review, the export price showed a mild curtailment. The pace of growth appeared the most rapid in 2019 an increase of 30% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Mexico.

From 2012 to 2022, the rate of growth in terms of prices for Mexico amounted to -1.8% per year.

Azo- Or Azoxy-Compounds Imports

Imports in Latin America and the Caribbean

In 2022, imports of diazo-, azo- or azoxy-compounds in Latin America and the Caribbean expanded rapidly to X tons, picking up by 8% on 2021. Total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.7% against 2017 indices. The pace of growth was the most pronounced in 2021 when imports increased by 40%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, azo- or azoxy-compounds imports surged to $X in 2022. Over the period under review, imports showed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 50% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Brazil represented the largest importer of diazo-, azo- or azoxy-compounds in Latin America and the Caribbean, with the volume of imports accounting for X tons, which was near 69% of total imports in 2022. Mexico (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (4.7%). Colombia (X tons) followed a long way behind the leaders.

Imports into Brazil increased at an average annual rate of +5.7% from 2012 to 2022. At the same time, Mexico (+7.7%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +7.7% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Argentina (-1.1%) illustrated a downward trend over the same period. While the share of Brazil (+5.9 p.p.) and Mexico (+5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Argentina (-3.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported diazo-, azo- or azoxy-compounds in Latin America and the Caribbean, comprising 67% of total imports. The second position in the ranking was held by Mexico ($X), with a 23% share of total imports. It was followed by Argentina, with a 3.2% share.

In Brazil, azo- or azoxy-compounds imports expanded at an average annual rate of +10.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+10.8% per year) and Argentina (-1.5% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by 26% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Argentina ($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 (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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