Latin America and the Caribbean: Flax Fiber Market 2024

Flax Fiber Market Size in Latin America and the Caribbean

The Latin American flax fiber market shrank modestly to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then contracted slightly in the following year.

Flax Fiber Production in Latin America and the Caribbean

In value terms, flax fiber production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 17% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Chile (X tons) and Argentina (X tons).

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +1.6%).

In 2022, the average yield of flax fiber in Latin America and the Caribbean stood at X tons per ha, flattening at 2021 figures. Overall, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the yield increased by 5.7%. The level of yield peaked at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The flax fiber harvested area was estimated at X ha in 2022, remaining relatively unchanged against 2021. In general, the harvested area showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the harvested area increased by 2.5%. The level of harvested area peaked at X ha in 2020; afterwards, it flattened through to 2022.

Flax Fiber Exports

Exports in Latin America and the Caribbean

In 2022, approx. X kg of flax fiber were exported in Latin America and the Caribbean; jumping by 52% compared with the previous year's figure. In general, exports enjoyed a notable increase. The pace of growth appeared the most rapid in 2016 when exports increased by 2,782% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, flax fiber exports rose notably to $X in 2022. Over the period under review, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2016 with an increase of 2,001% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mexico represented the main exporting country with an export of around X kg, which finished at 59% of total exports. Brazil (X kg) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Uruguay (11%) and Honduras (5%). The following exporters - Colombia (X kg) and Peru (X kg) - together made up 4.8% of total exports.

From 2012 to 2022, average annual rates of growth with regard to flax fiber exports from Mexico stood at -1.3%. At the same time, Peru (+13.7%) and Brazil (+9.1%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +13.7% from 2012-2022. By contrast, Honduras (-36.9%), Colombia (-37.0%) and Uruguay (-37.1%) illustrated a downward trend over the same period. Uruguay (+11 p.p.), Brazil (+9.1 p.p.), Honduras (+5 p.p.) and Colombia (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -29.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Peru ($X) were the countries with the highest levels of exports in 2022, together accounting for 81% of total exports.

Among the main exporting countries, Peru, with a CAGR of +16.8%, saw 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

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, declining by -28.8% against the previous year. Overall, the export price recorded a abrupt contraction. The pace of growth was the most pronounced in 2020 an increase of 49%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+2.7%), while the other leaders experienced a decline in the export price figures.

Flax Fiber Imports

Imports in Latin America and the Caribbean

In 2022, after six years of growth, there was significant decline in overseas purchases of flax fiber, when their volume decreased by -8% to X tons. Over the period under review, imports, however, showed a slight expansion. The growth pace was the most rapid in 2021 with an increase of 28%. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, flax fiber imports soared to $X in 2022. In general, imports, however, posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil prevails in imports structure, resulting at X tons, which was approx. 81% of total imports in 2022. It was distantly followed by Chile (X tons), achieving a 5.7% share of total imports. The Dominican Republic (X tons), Argentina (X tons), Colombia (X tons) and Peru (X tons) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of flax fiber. At the same time, the Dominican Republic (+65.8%), Chile (+23.5%) and Colombia (+7.0%) 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 +65.8% from 2012-2022. By contrast, Peru (-2.1%) and Argentina (-3.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile and the Dominican Republic increased by +4.9 and +4.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Colombia ($X) and Chile ($X) were the countries with the highest levels of imports in 2022, with a combined 85% share of total imports. The Dominican Republic, Peru and Argentina lagged somewhat behind, together accounting for a further 5%.

The Dominican Republic, with a CAGR of +69.2%, saw the highest growth rate of the value of imports, in terms of 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

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by 76% against the previous year. Overall, the import price recorded resilient growth. 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 2022, amid the top importers, the country with the highest price was Colombia ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+42.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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