Latin America and the Caribbean: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in Latin America and the Caribbean

The Latin American polyphenols and phenol-alcohols market soared to $X in 2022, growing by 19% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyphenols And Phenol-Alcohols Production in Latin America and the Caribbean

In value terms, polyphenols and phenol-alcohols production rose rapidly to $X in 2022 estimated in export price. The total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.4% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 66% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Polyphenols And Phenol-Alcohols Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of polyphenols and phenol-alcohols were exported in Latin America and the Caribbean; growing by 40% on the previous year's figure. Overall, exports recorded a noticeable increase. The pace of growth was the most pronounced in 2021 when exports increased by 94%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, polyphenols and phenol-alcohols exports surged to $X in 2022. In general, exports saw prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 129% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Colombia represented the key exporting country with an export of about X tons, which finished at 67% of total exports. Mexico (X tons) took the second position in the ranking, distantly followed by Brazil (X tons). All these countries together took approx. 27% share of total exports. Panama (X tons) followed a long way behind the leaders.

Colombia was also the fastest-growing in terms of the polyphenols and phenol-alcohols exports, with a CAGR of +45.5% from 2012 to 2022. Panama (-3.7%), Brazil (-3.8%) and Mexico (-7.6%) illustrated a downward trend over the same period. Colombia (+65 p.p.) significantly strengthened its position in terms of the total exports, while Panama, Brazil and Mexico saw its share reduced by -2.7%, -10.7% and -47.2% from 2012 to 2022, respectively.

In value terms, the largest polyphenols and phenol-alcohols supplying countries in Latin America and the Caribbean were Colombia ($X), Mexico ($X) and Brazil ($X), together comprising 98% of total exports.

Among the main exporting countries, Colombia, with a CAGR of +50.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of 31% against the previous year. Overall, the export price showed a buoyant expansion. The pace of growth was the most pronounced in 2020 when the export price increased by 43%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Panama ($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 (+11.4%), while the other leaders experienced more modest paces of growth.

Polyphenols And Phenol-Alcohols Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of polyphenols and phenol-alcohols were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 26% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, polyphenols and phenol-alcohols imports skyrocketed to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +69.4% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 22% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Brazil (X tons) represented the key importer of polyphenols and phenol-alcohols, making up 46% of total imports. Argentina (X tons) took the second position in the ranking, distantly followed by Mexico (X tons) and Colombia (X tons). All these countries together took near 47% share of total imports. Guatemala (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +11.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported polyphenols and phenol-alcohols in Latin America and the Caribbean, comprising 59% of total imports. The second position in the ranking was taken by Mexico ($X), with a 17% share of total imports. It was followed by Argentina, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at +8.3%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-1.0% per year) and Argentina (+7.1% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, approximately equating the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2015 an increase of 31% against the previous year. The level of import peaked at $X per ton in 2021, and then dropped modestly in the following year.

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 Brazil ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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