Latin America and the Caribbean: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in Latin America and the Caribbean

For the fifth year in a row, the Latin American aromatic hydrocarbons derivatives market recorded decline in sales value, which decreased by -24.1% to $X in 2021. In general, consumption, however, showed buoyant growth. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Aromatic Hydrocarbons Derivatives Production in Latin America and the Caribbean

In value terms, aromatic hydrocarbons derivatives production dropped to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 118%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Aromatic Hydrocarbons Derivatives Exports

Exports in Latin America and the Caribbean

In 2021, exports of halogenated derivatives of aromatic hydrocarbons in Latin America and the Caribbean fell to X tons, waning by -12.6% against the year before. Over the period under review, exports showed a drastic downturn. The growth pace was the most rapid in 2013 when exports increased by 53%. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, aromatic hydrocarbons derivatives exports rose rapidly to $X in 2021. In general, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 56% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico dominates exports structure, accounting for X tons, which was near 94% of total exports in 2021. Panama (X tons) and Costa Rica (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to aromatic hydrocarbons derivatives exports from Mexico stood at -6.4%. At the same time, Costa Rica (+18.3%) and Panama (+1.3%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +18.3% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest aromatic hydrocarbons derivatives supplier in Latin America and the Caribbean, comprising 89% of total exports. The second position in the ranking was taken by Panama ($X), with a 5.1% share of total exports.

In Mexico, aromatic hydrocarbons derivatives exports contracted by an average annual rate of -7.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Panama (+4.3% per year) and Costa Rica (+34.4% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 30% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+13.6%), while the other leaders experienced mixed trends in the export price figures.

Aromatic Hydrocarbons Derivatives Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of halogenated derivatives of aromatic hydrocarbons were imported in Latin America and the Caribbean; dropping by -20.4% on 2020 figures. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, aromatic hydrocarbons derivatives imports declined to $X in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -22.2% against 2019 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 42%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Brazil represented the major importing country with an import of about X tons, which recorded 52% of total imports. It was distantly followed by Mexico (X tons) and Costa Rica (X tons), together making up a 29% share of total imports. The following importers - El Salvador (X tons), Ecuador (X tons) and Argentina (X tons) - together made up 11% of total imports.

Imports into Brazil decreased at an average annual rate of -1.7% from 2012 to 2021. At the same time, El Salvador (+29.2%), Mexico (+8.2%) and Costa Rica (+3.8%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +29.2% from 2012-2021. Ecuador experienced a relatively flat trend pattern. By contrast, Argentina (-5.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico, El Salvador and Costa Rica increased by +9.4, +4.4 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest aromatic hydrocarbons derivatives importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Costa Rica ($X), with a combined 84% share of total imports. El Salvador, Ecuador and Argentina lagged somewhat behind, together accounting for a further 9.1%.

El Salvador, with a CAGR of +36.2%, saw 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

The import price in Latin America and the Caribbean stood at $X per ton in 2021, surging by 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2019 when the import price increased by 24% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

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 El Salvador (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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