Latin America and the Caribbean: Ethylene Oxide Market 2025

Ethylene Oxide Market Size in Latin America and the Caribbean

The Latin American ethylene oxide market surged to $X in 2022, growing by 21% against the previous year. Overall, consumption saw a buoyant increase. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Ethylene Oxide Production in Latin America and the Caribbean

In value terms, ethylene oxide production soared to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a drastic downturn. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Ethylene Oxide Exports

Exports in Latin America and the Caribbean

In 2022, after four years of growth, there was significant decline in shipments abroad of oxirane (ethylene oxide), when their volume decreased by -27.3% to X tons. In general, exports faced a drastic downturn. The pace of growth was the most pronounced in 2019 with an increase of 105% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ethylene oxide exports totaled $X in 2022. Overall, exports continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 88%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Argentina (X tons) was the largest exporter of oxirane (ethylene oxide), constituting 54% of total exports. The Dominican Republic (X tons) took a 28% share (based on physical terms) of total exports, which put it in second place, followed by Peru (9.2%) and Chile (4.6%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Argentina (with a CAGR of +25.6%), while the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) remains the largest ethylene oxide supplier in Latin America and the Caribbean, comprising 43% of total exports. The second position in the ranking was held by Peru ($X), with a 19% share of total exports. It was followed by the Dominican Republic, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Argentina amounted to +13.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (+13.7% per year) and the Dominican Republic (+3.3% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, growing by 42% against the previous year. Over the period under review, the export price posted a significant expansion. The most prominent rate of growth was recorded in 2014 an increase of 788% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+4.6%), while the other leaders experienced a decline in the export price figures.

Ethylene Oxide Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of oxirane (ethylene oxide) increased by 15% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 77%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, ethylene oxide imports skyrocketed to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +94.3% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 75%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, the Dominican Republic (X tons), distantly followed by Costa Rica (X tons), Mexico (X tons), Brazil (X tons), Colombia (X tons) and Argentina (X tons) were the main importers of oxirane (ethylene oxide), together constituting 90% of total imports. Chile (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Brazil (with a CAGR of +46.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Dominican Republic ($X), Mexico ($X) and Costa Rica ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 62% of total imports. These countries were followed by Colombia, Brazil, Chile and Argentina, which together accounted for a further 26%.

Brazil, with a CAGR of +62.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 2.3% against the previous year. In general, the import price, however, saw a pronounced descent. The growth pace was the most rapid in 2019 an increase of 20%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+17.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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