Latin America and the Caribbean: Epoxide Resin Market 2024

Epoxide Resin Market Size in Latin America and the Caribbean

In 2021, the Latin American epoxide resin market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Epoxide Resin Production in Latin America and the Caribbean

In value terms, epoxide resin production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 13%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Epoxide Resin Exports

Exports in Latin America and the Caribbean

After two years of decline, shipments abroad of epoxide resins increased by 27% to X tons in 2021. In general, exports, however, showed a abrupt contraction. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, epoxide resin exports soared to $X in 2021. Overall, exports, however, continue to indicate a noticeable slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil was the largest exporter of epoxide resins in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was approx. 65% of total exports in 2021. It was distantly followed by Mexico (X tons) and Chile (X tons), together creating a 24% share of total exports. The following exporters - Colombia (X tons) and Guatemala (X tons) - each reached a 5.9% share of total exports.

Exports from Brazil decreased at an average annual rate of -6.4% from 2012 to 2021. At the same time, Guatemala (+36.1%) and Colombia (+5.0%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +36.1% from 2012-2021. Chile experienced a relatively flat trend pattern. By contrast, Mexico (-16.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil, Chile, Guatemala and Colombia increased by +11, +3.5, +2.7 and +2.2 percentage points, respectively.

In value terms, Brazil ($X) remains the largest epoxide resin supplier in Latin America and the Caribbean, comprising 55% of total exports. The second position in the ranking was taken by Mexico ($X), with a 27% share of total exports. It was followed by Chile, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil amounted to -6.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (-4.2% per year) and Chile (+1.8% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, rising by 15% against the previous year. Over the last nine years, it increased at an average annual rate of +3.7%. The growth pace was the most rapid in 2015 when the export price increased by 25%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+14.4%), while the other leaders experienced mixed trends in the export price figures.

Epoxide Resin Imports

Imports in Latin America and the Caribbean

In 2021, the amount of epoxide resins imported in Latin America and the Caribbean surged to X tons, picking up by 31% on 2020. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, epoxide resin imports soared to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil (X tons) and Mexico (X tons) dominates imports structure, together making up 75% of total imports. It was distantly followed by Argentina (X tons), creating a 6% share of total imports. The following importers - Chile (X tons), Colombia (X tons) and Peru (X tons) - each finished at a 12% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +4.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) were the countries with the highest levels of imports in 2021, with a combined 83% share of total imports. These countries were followed by Chile, Colombia and Peru, which together accounted for a further 11%.

Peru, with a CAGR of +5.2%, recorded 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, surging by 22% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Colombia (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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