Latin America and the Caribbean: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Latin America and the Caribbean

The Latin American acrylic acid esters market reached $X in 2022, growing by 1.9% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.3% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Acrylic Acid Esters Production in Latin America and the Caribbean

In value terms, acrylic acid esters production rose slightly to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 24%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Acrylic Acid Esters Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of esters of acrylic acid increased by 35% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 127% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, acrylic acid esters exports surged to $X in 2022. In general, exports continue to indicate a slight increase. The pace of growth appeared the most rapid in 2017 when exports increased by 168% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil represented the largest exporting country with an export of about X tons, which finished at 75% of total exports. It was distantly followed by Mexico (X tons), achieving a 25% share of total exports.

Brazil was also the fastest-growing in terms of the esters of acrylic acid exports, with a CAGR of +25.7% from 2012 to 2022. Mexico (-16.3%) illustrated a downward trend over the same period. While the share of Brazil (+70 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (-69.5 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) remains the largest acrylic acid esters supplier in Latin America and the Caribbean, comprising 81% of total exports. The second position in the ranking was held by Mexico ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Brazil amounted to +24.1%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 37% against the previous year. Export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, acrylic acid esters export price increased by +109.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 53%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Mexico totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.4%).

Acrylic Acid Esters Imports

Imports in Latin America and the Caribbean

Acrylic acid esters imports shrank modestly to X tons in 2022, dropping by -1.8% on the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 15% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, acrylic acid esters imports expanded significantly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 76% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Mexico was the key importer of esters of acrylic acid in Latin America and the Caribbean, with the volume of imports recording X tons, which was near 48% of total imports in 2022. It was distantly followed by Brazil (X tons), Argentina (X tons), Colombia (X tons) and Chile (X tons), together creating a 43% share of total imports. Uruguay (X tons) and the Dominican Republic (X tons) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of +2.9% from 2012 to 2022. At the same time, the Dominican Republic (+8.9%), Chile (+1.6%) and Uruguay (+1.2%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +8.9% from 2012-2022. Argentina and Colombia experienced a relatively flat trend pattern. By contrast, Brazil (-6.0%) illustrated a downward trend over the same period. While the share of Mexico (+13 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (-15.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) constituted the countries with the highest levels of imports in 2022, together comprising 80% of total imports. Chile, Colombia, Uruguay and the Dominican Republic lagged somewhat behind, together comprising a further 17%.

Among the main importing countries, the Dominican Republic, with a CAGR of +10.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of 9.8% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 60%. Over the period under review, import prices attained the maximum in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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