Latin America and the Caribbean: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Latin America and the Caribbean

The Latin American phenylacetic acid market expanded markedly to $X in 2022, increasing by X% against the previous year. Overall, consumption, however, recorded a perceptible contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Phenylacetic Acid Production in Latin America and the Caribbean

In value terms, phenylacetic acid production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced setback. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Phenylacetic Acid Exports

Exports in Latin America and the Caribbean

Phenylacetic acid exports declined dramatically to X tons in 2022, dropping by X% compared with 2021. In general, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, phenylacetic acid exports fell sharply to $X in 2022. Overall, exports showed a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil was the main exporting country with an export of around X tons, which accounted for X% of total exports. Guatemala (X tons) ranks second in terms of the total exports with a X% share, followed by Colombia (X%). The following exporters - Argentina (X tons) and El Salvador (X tons) - each recorded a X% share of total exports.

Exports from Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Colombia (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, El Salvador (X%), Guatemala (X%) and Argentina (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) and Colombia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Argentina (X p.p.) and Guatemala (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest phenylacetic acid supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Guatemala ($X), with a X% share of total exports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Brazil amounted to X%. In the other countries, the average annual rates were as follows: Guatemala (X% per year) and Colombia (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, shrinking by X% against the previous year. In general, the export price continues to indicate a pronounced decline. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Argentina ($X per ton), while Brazil ($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 (X%), while the other leaders experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports in Latin America and the Caribbean

Phenylacetic acid imports surged to X tons in 2022, picking up by X% compared with the previous year's figure. Overall, imports, however, saw a mild slump. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, phenylacetic acid imports surged to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

The countries with the highest levels of phenylacetic acid imports in 2022 were Brazil (X tons), Argentina (X tons) and Mexico (X tons), together reaching X% of total import. It was distantly followed by Ecuador (X tons) and Colombia (X tons), together creating a X% share of total imports. Peru (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phenylacetic acid importing markets in Latin America and the Caribbean were Brazil ($X), Argentina ($X) and Mexico ($X), together accounting for X% of total imports. Colombia, Ecuador and Peru lagged somewhat behind, together comprising a further X%.

Ecuador, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The import price in Latin America and the Caribbean stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the import price, however, showed a notable increase. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 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 Colombia ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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