Latin America and the Caribbean: Aromatic Monoamines Market 2024

Aromatic Monoamines Market Size in Latin America and the Caribbean

The Latin American aromatic monoamines market reduced slightly to $X in 2021, remaining relatively unchanged against the previous year. Over the period under review, consumption saw a perceptible downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Aromatic Monoamines Production in Latin America and the Caribbean

In value terms, aromatic monoamines production rose slightly to $X in 2021 estimated in export price. Overall, production recorded a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of 144% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Aromatic Monoamines Exports

Exports in Latin America and the Caribbean

In 2021, the amount of other aromatic monoamines and their derivatives, salts thereof exported in Latin America and the Caribbean skyrocketed to X tons, rising by 26% against the previous year's figure. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 324%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, aromatic monoamines exports rose to $X in 2021. In general, exports showed strong growth. The pace of growth was the most pronounced in 2019 with an increase of 124%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Panama prevails in exports structure, finishing at X tons, which was near 95% of total exports in 2021. Mexico (X tons) took a minor share of total exports.

Panama was also the fastest-growing in terms of the other aromatic monoamines and their derivatives, salts thereof exports, with a CAGR of +144.0% from 2012 to 2021. At the same time, Mexico (+1.8%) displayed positive paces of growth. While the share of Panama (+94 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-56.7 p.p.) displayed negative dynamics.

In value terms, Panama ($X) remains the largest aromatic monoamines supplier in Latin America and the Caribbean, comprising 67% of total exports. The second position in the ranking was taken by Mexico ($X), with a 30% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Panama stood at +95.2%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, waning by -16.9% against the previous year. Overall, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2013 an increase of 7.7% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Mexico ($X per ton), while Panama amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-1.6%).

Aromatic Monoamines Imports

Imports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded decline in supplies from abroad of other aromatic monoamines and their derivatives, salts thereof, which decreased by -22.6% to X tons in 2021. Overall, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by 35% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, aromatic monoamines imports rose modestly to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 34% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Mexico (X tons) represented the major importer of other aromatic monoamines and their derivatives, salts thereof, constituting 43% of total imports. Argentina (X tons) took a 25% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (19%) and Colombia (7.5%). Chile (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Argentina (with a CAGR of +9.4%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Brazil ($X) constitutes the largest market for imported other aromatic monoamines and their derivatives, salts thereof in Latin America and the Caribbean, comprising 45% of total imports. The second position in the ranking was held by Mexico ($X), with a 21% share of total imports. It was followed by Argentina, with an 8.2% share.

In Brazil, aromatic monoamines imports expanded at an average annual rate of +4.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-6.8% per year) and Argentina (+2.3% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 32% against the previous year. Import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the import price increased by 42%. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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