Latin America and the Caribbean: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in Latin America and the Caribbean

The Latin American ketone and quinone market contracted notably to $X in 2021, reducing by -25.5% against the previous year. Over the period under review, consumption recorded a deep slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ketone And Quinone Production in Latin America and the Caribbean

In value terms, ketone and quinone production rose markedly to $X in 2021 estimated in export price. Overall, production recorded a temperate increase. The pace of growth appeared the most rapid in 2019 with an increase of 102% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Ketone And Quinone Exports

Exports in Latin America and the Caribbean

In 2021, exports of ketones and quinones in Latin America and the Caribbean skyrocketed to X tons, with an increase of 29% against the previous year. In general, exports recorded a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ketone and quinone exports surged to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 45% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

Brazil prevails in exports structure, finishing at X tons, which was near 91% of total exports in 2021. It was distantly followed by Mexico (X tons), constituting a 6.9% share of total exports.

Brazil was also the fastest-growing in terms of the ketones and quinones exports, with a CAGR of +5.4% from 2012 to 2021. Mexico (-13.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil increased by +32 percentage points.

In value terms, Brazil ($X) and Mexico ($X) were the countries with the highest levels of exports in 2021.

Brazil, with a CAGR of +4.0%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, approximately reflecting the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 19% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+14.6%).

Ketone And Quinone Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of ketones and quinones decreased by -12.1% to X tons, falling for the third year in a row after two years of growth. In general, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 21% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, ketone and quinone imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil dominates imports structure, reaching X tons, which was approx. 53% of total imports in 2021. It was distantly followed by Argentina (X tons), Colombia (X tons) and Mexico (X tons), together achieving a 22% share of total imports. Guatemala (X tons), the Dominican Republic (X tons), Peru (X tons), Costa Rica (X tons) and Chile (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to ketone and quinone imports into Brazil stood at +2.3%. At the same time, Argentina (+10.0%), Guatemala (+6.8%), the Dominican Republic (+5.5%) and Costa Rica (+3.0%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.0% from 2012-2021. Colombia experienced a relatively flat trend pattern. By contrast, Chile (-3.6%), Peru (-10.8%) and Mexico (-27.2%) illustrated a downward trend over the same period. Brazil (+30 p.p.), Argentina (+7.2 p.p.), Colombia (+3.6 p.p.), Guatemala (+3.1 p.p.), the Dominican Republic (+2.6 p.p.) and Costa Rica (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Peru and Mexico saw its share reduced by -1.6% and -49% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) constituted the countries with the highest levels of imports in 2021, with a combined 83% share of total imports. Colombia, Chile, Peru, Costa Rica, Guatemala and the Dominican Republic lagged somewhat behind, together comprising a further 13%.

In terms of the main importing countries, Guatemala, with a CAGR of +5.9%, saw the highest growth rate of 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 57% against the previous year. In general, the import price continues to indicate a strong expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while Guatemala ($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 (+38.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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