Latin America and the Caribbean: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in Latin America and the Caribbean

In 2021, the Latin American cyclic hydrocarbons market increased by 6.2% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Cyclic Hydrocarbons Production in Latin America and the Caribbean

In value terms, cyclic hydrocarbons production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 27%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Cyclic Hydrocarbons Exports

Exports in Latin America and the Caribbean

After two years of decline, overseas shipments of other cyclic hydrocarbons increased by 218% to X tons in 2021. Overall, exports, however, faced a deep setback. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, cyclic hydrocarbons exports soared to $X in 2021. In general, exports, however, continue to indicate a abrupt decline. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil represented the key exporter of other cyclic hydrocarbons in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was approx. 80% of total exports in 2021. It was distantly followed by Panama (X tons), mixing up a 14% share of total exports. Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to cyclic hydrocarbons exports from Brazil stood at -15.5%. At the same time, Panama (+13.7%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +13.7% from 2012-2021. By contrast, Colombia (-28.6%) illustrated a downward trend over the same period. Panama (+13 p.p.) significantly strengthened its position in terms of the total exports, while Colombia saw its share reduced by -7.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest cyclic hydrocarbons supplier in Latin America and the Caribbean, comprising 76% of total exports. The second position in the ranking was held by Panama ($X), with an 11% share of total exports.

In Brazil, cyclic hydrocarbons exports decreased by an average annual rate of -14.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Panama (+7.2% per year) and Colombia (-31.3% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with a decrease of -7.2% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 32% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Brazil ($X per ton), while Colombia ($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 (+1.3%), while the other leaders experienced a decline in the export price figures.

Cyclic Hydrocarbons Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of other cyclic hydrocarbons were finally on the rise to reach X tons after three years of decline. In general, imports, however, continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2013 when imports increased by 33%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, cyclic hydrocarbons imports shrank to $X in 2021. Overall, imports, however, recorded a deep downturn. The growth pace was the most rapid in 2013 with an increase of 22% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Mexico (X tons) represented the main importer of other cyclic hydrocarbons, creating 43% of total imports. Brazil (X tons) ranks second in terms of the total imports with a 16% share, followed by Guatemala (11%), Uruguay (8.7%) and Chile (5.6%). The following importers - Argentina (X tons) and Trinidad and Tobago (X tons) - each resulted at an 8.3% share of total imports.

Imports into Mexico increased at an average annual rate of +6.4% from 2012 to 2021. At the same time, Chile (+15.8%) and Trinidad and Tobago (+8.4%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +15.8% from 2012-2021. Brazil and Uruguay experienced a relatively flat trend pattern. By contrast, Argentina (-8.8%) and Guatemala (-17.0%) illustrated a downward trend over the same period. Mexico (+26 p.p.), Brazil (+5.3 p.p.), Chile (+4.6 p.p.), Trinidad and Tobago (+2.7 p.p.) and Uruguay (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Argentina and Guatemala saw its share reduced by -2.2% and -28.9% from 2012 to 2021, respectively.

In value terms, Mexico ($X) constitutes the largest market for imported other cyclic hydrocarbons in Latin America and the Caribbean, comprising 46% of total imports. The second position in the ranking was held by Brazil ($X), with a 17% share of total imports. It was followed by Guatemala, with a 9.4% share.

In Mexico, cyclic hydrocarbons imports expanded at an average annual rate of +2.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-3.8% per year) and Guatemala (-17.2% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, dropping by -13.9% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 24% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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