Latin America and the Caribbean: Isocyanates Market 2024

Isocyanates Market Size in Latin America and the Caribbean

The Latin American isocyanates market fell slightly to $X in 2022, waning by X% against the previous year. In general, consumption continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Isocyanates Production in Latin America and the Caribbean

In value terms, isocyanates production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Isocyanates Exports

Exports in Latin America and the Caribbean

Isocyanates exports declined markedly to X tons in 2022, reducing by X% on the year before. In general, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, isocyanates exports shrank notably to $X in 2022. Over the period under review, exports showed a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina was the key exporter of isocyanates in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Colombia (X tons), Brazil (X tons) and Guatemala (X tons), together comprising a X% share of total exports. Chile (X tons), Ecuador (X tons) and Costa Rica (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Colombia ($X) and Brazil ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports. Guatemala, Chile, Costa Rica and Ecuador lagged somewhat behind, together comprising a further X%.

Chile, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Chile ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

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

Isocyanates Imports

Imports in Latin America and the Caribbean

In 2022, the amount of isocyanates imported in Latin America and the Caribbean dropped rapidly to X tons, which is down by X% against 2021. Over the period under review, imports recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, isocyanates imports fell to $X in 2022. In general, imports continue to indicate a perceptible setback. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Brazil was the largest importing country with an import of around X tons, which finished at X% of total imports. Colombia (X tons) held the second position in the ranking, followed by Peru (X tons). All these countries together held approx. X% share of total imports. The following importers - Ecuador (X tons), Guatemala (X tons), Chile (X tons), Mexico (X tons), Argentina (X tons) and the Dominican Republic (X tons) - each reached a X% share of total imports.

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

In value terms, Brazil ($X) constitutes the largest market for imported isocyanates in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Colombia ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Peru (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; afterwards, it flattened through to 2022.

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

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

Source: IndexBox Platform

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