Latin America and the Caribbean: Ethanal Market 2024

Ethanal Market Size in Latin America and the Caribbean

The Latin American ethanal market reduced to $X in 2022, standing approx. at the previous year. In general, consumption, however, recorded a pronounced reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ethanal Production in Latin America and the Caribbean

In value terms, ethanal production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production showed a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of 23%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Ethanal Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of ethanal (acetaldehyde) decreased by -91.3% to X kg, falling for the second year in a row after four years of growth. In general, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 11,752% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, ethanal exports plummeted to $X in 2022. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 9,230%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Chile was the main exporting country with an export of about X kg, which resulted at 83% of total exports. Trinidad and Tobago (X kg) held the second position in the ranking, followed by Brazil (X kg). All these countries together held near 18% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ethanal exports from Chile stood at -6.9%. At the same time, Brazil (+21.1%) and Trinidad and Tobago (+6.6%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +21.1% from 2012-2022. Chile (+83 p.p.) and Brazil (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Trinidad and Tobago saw its share reduced by -1.8% from 2012 to 2022, respectively.

In value terms, the largest ethanal supplying countries in Latin America and the Caribbean were Chile ($X), Brazil ($X) and Trinidad and Tobago ($X).

Among the main exporting countries, Brazil, with a CAGR of +36.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 612% against the previous year. In general, the export price recorded buoyant growth. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Brazil ($X per ton), while Chile ($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 (+12.6%), while the other leaders experienced a decline in the export price figures.

Ethanal Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of ethanal (acetaldehyde) increased by 211% to X tons, rising for the fourth consecutive year after six years of decline. In general, imports saw a moderate expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ethanal imports soared to $X in 2022. Total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +110.2% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Mexico represented the largest importing country with an import of about X tons, which resulted at 76% of total imports. It was distantly followed by Brazil (X tons), mixing up a 15% share of total imports. Costa Rica (X tons) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the ethanal (acetaldehyde) imports, with a CAGR of +8.2% from 2012 to 2022. At the same time, Brazil (+3.1%) displayed positive paces of growth. By contrast, Costa Rica (-3.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by +30 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported ethanal (acetaldehyde) in Latin America and the Caribbean, comprising 57% of total imports. The second position in the ranking was taken by Mexico ($X), with a 26% share of total imports.

In Brazil, ethanal imports expanded at an average annual rate of +13.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+3.6% per year) and Costa Rica (-2.6% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, shrinking by -61.3% against the previous year. Overall, the import price recorded a slight slump. The most prominent rate of growth was recorded in 2016 an increase of 53% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+10.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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