Latin America and the Caribbean: M-Xylene And Xylenes Market 2024

M-Xylene And Xylenes Market Size in Latin America and the Caribbean

In 2022, the Latin American m-xylene and xylenes market increased by 14% to $X, rising for the second year in a row after eight years of decline. Over the period under review, consumption, however, recorded a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

M-Xylene And Xylenes Production in Latin America and the Caribbean

In value terms, m-xylene and xylenes production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 when the production volume increased by 4.4% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

M-Xylene And Xylenes Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of m-xylene and mixed xylene isomers were exported in Latin America and the Caribbean; declining by -49.5% on 2021. Overall, exports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 111%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, m-xylene and xylenes exports shrank notably to $X in 2022. Over the period under review, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 78%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Colombia represented the largest exporter of m-xylene and mixed xylene isomers in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was near 56% of total exports in 2022. Argentina (X tons) took a 31% share (based on physical terms) of total exports, which put it in second place, followed by Nicaragua (9.9%).

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +7.0%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Colombia ($X) remains the largest m-xylene and xylenes supplier in Latin America and the Caribbean, comprising 59% of total exports. The second position in the ranking was taken by Argentina ($X), with a 29% share of total exports.

In Colombia, m-xylene and xylenes exports decreased by an average annual rate of -11.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (+6.0% per year) and Nicaragua (-0.5% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by 54% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+1.4%), while the other leaders experienced mixed trends in the export price figures.

M-Xylene And Xylenes Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of m-xylene and mixed xylene isomers increased by 9.5% to X tons, rising for the third year in a row after two years of decline. Total imports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 40%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, m-xylene and xylenes imports skyrocketed to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X tons) and Venezuela (X tons) represented roughly 74% of total imports in 2022. It was distantly followed by Chile (X tons), generating a 10% share of total imports. The following importers - Peru (X tons), Colombia (X tons), El Salvador (X tons) and Ecuador (X tons) - together made up 9.5% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Colombia (with a CAGR of +73.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported m-xylene and mixed xylene isomers in Latin America and the Caribbean, comprising 53% of total imports. The second position in the ranking was taken by Venezuela ($X), with a 15% share of total imports. It was followed by Chile, with a 12% share.

In Mexico, m-xylene and xylenes imports expanded at an average annual rate of +15.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Venezuela (-6.3% per year) and Chile (-1.7% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by 30% against the previous year. Overall, the import price, however, showed a noticeable decline. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was El Salvador ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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