Latin America and the Caribbean: Market for Industrial Tall Oil Fatty Acids 2024

Market Size for Industrial Tall Oil Fatty Acids in Latin America and the Caribbean

In 2021, the Latin American tall oil fatty acids market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption showed a noticeable shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Industrial Tall Oil Fatty Acids in Latin America and the Caribbean

In value terms, tall oil fatty acids production rose modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt descent. The growth pace was the most rapid in 2013 with an increase of 68% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Industrial Tall Oil Fatty Acids

Exports in Latin America and the Caribbean

In 2021, shipments abroad of industrial tall oil fatty acids was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, faced a abrupt setback. The pace of growth was the most pronounced in 2013 when exports increased by 106% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, tall oil fatty acids exports skyrocketed to $X in 2021. Overall, exports, however, saw a dramatic setback. The pace of growth appeared the most rapid in 2013 when exports increased by 66%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Guatemala (X tons), Argentina (X tons), Venezuela (X tons) and Brazil (X tons), together recording 83% of total export. It was distantly followed by El Salvador (X tons) and Chile (X tons), together achieving an 11% share of total exports. Trinidad and Tobago (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +7.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest tall oil fatty acids supplying countries in Latin America and the Caribbean were Argentina ($X), Chile ($X) and Brazil ($X), with a combined 64% share of total exports. These countries were followed by Guatemala, Trinidad and Tobago, Venezuela and El Salvador, which together accounted for a further 28%.

Among the main exporting countries, Trinidad and Tobago, with a CAGR of +31.2%, 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

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 13% against the previous year. In general, the export price, however, showed a deep slump. The pace of growth appeared the most rapid in 2016 when the export price increased by 20%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Chile ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+23.7%), while the other leaders experienced a decline in the export price figures.

Imports of Industrial Tall Oil Fatty Acids

Imports in Latin America and the Caribbean

In 2021, the amount of industrial tall oil fatty acids imported in Latin America and the Caribbean dropped to X tons, with a decrease of -11.3% compared with 2020. Over the period under review, imports recorded a pronounced reduction. The growth pace was the most rapid in 2017 with an increase of 14% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, tall oil fatty acids imports skyrocketed to $X in 2021. Overall, imports recorded a pronounced contraction. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Mexico (X tons), distantly followed by Colombia (X tons), Brazil (X tons), the Dominican Republic (X tons), Costa Rica (X tons) and Trinidad and Tobago (X tons) were the major importers of industrial tall oil fatty acids, together creating 93% of total imports. Chile (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Trinidad and Tobago (with a CAGR of +53.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tall oil fatty acids importing markets in Latin America and the Caribbean were Mexico ($X), Colombia ($X) and Brazil ($X), with a combined 78% share of total imports. These countries were followed by the Dominican Republic, Costa Rica, Trinidad and Tobago and Chile, which together accounted for a further 17%.

In terms of the main importing countries, Trinidad and Tobago, with a CAGR of +32.7%, saw 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 31% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. 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, the country with the highest price was Brazil ($X per ton), while Trinidad and Tobago ($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 (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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