Latin America and the Caribbean: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Latin America and the Caribbean

After two years of decline, the Latin American market for lauric acid and other acids, their salts and esters increased by 9.8% to $X in 2021. Overall, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Lauric Acid And Other Acids, Their Salts And Esters in Latin America and the Caribbean

In value terms, production of lauric acid and other acids, their salts and esters expanded to $X in 2021 estimated in export price. Overall, production, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when the production volume increased by 6.3% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports in Latin America and the Caribbean

In 2021, overseas shipments of lauric acid and other acids, their salts and esters decreased by -1.9% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, exports, however, posted a pronounced expansion. The growth pace was the most rapid in 2017 when exports increased by 40%. Over the period under review, the exports of reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, exports of lauric acid and other acids, their salts and esters soared to $X in 2021. Total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 30% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Brazil was the largest exporter of lauric acid and other acids, their salts and esters in Latin America and the Caribbean, with the volume of exports resulting at X tons, which was near 65% of total exports in 2021. It was distantly followed by Mexico (X tons), constituting a 34% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +8.4%).

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

Mexico, with a CAGR of +6.9%, recorded the highest growth rate of the value of exports, among 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, jumping by 22% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The level of export peaked at $X per ton in 2013; however, from 2014 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 Brazil (+0.8%).

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports in Latin America and the Caribbean

Imports of lauric acid and other acids, their salts and esters soared to X tons in 2021, increasing by 18% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 20% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, imports of lauric acid and other acids, their salts and esters soared to $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the main importer of lauric acid and other acids, their salts and esters in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was near 54% of total imports in 2021. Brazil (X tons) took a 28% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (6.7%). Argentina (X tons), Chile (X tons) and the Dominican Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Dominican Republic (with a CAGR of +7.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lauric acid and other acids, their salts and esters importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Colombia ($X), with a combined 85% share of total imports.

In terms of the main importing countries, Colombia, with a CAGR of +6.4%, recorded 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

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 6.9% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2019; afterwards, it flattened through to 2021.

Prices varied noticeably country of destination: the country with the highest price was Argentina ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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