Latin America and the Caribbean: Other Chemical Products Market 2025

Other Chemical Products Market Size in Latin America and the Caribbean

The Latin American other chemical products market reduced slightly to $X in 2022, standing approx. at the previous year. Over the period under review, consumption showed a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 7.5%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Other Chemical Products Production in Latin America and the Caribbean

In value terms, other chemical products production stood at $X in 2022 estimated in export price. Overall, production recorded a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of 12%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Other Chemical Products Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of other chemical products were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a abrupt shrinkage. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, other chemical products exports soared to $X in 2022. Overall, exports, however, continue to indicate a abrupt decrease. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Argentina (X tons) represented the largest exporter of other chemical products, creating 56% of total exports. Mexico (X tons) took the second position in the ranking, distantly followed by Trinidad and Tobago (X tons). All these countries together held approx. 40% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Trinidad and Tobago (with a CAGR of +33.4%), while the other leaders experienced a decline in the exports figures.

In value terms, Mexico ($X) emerged as the largest other chemical products supplier in Latin America and the Caribbean, comprising 72% of total exports. The second position in the ranking was taken by Argentina ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to -8.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-7.9% per year) and Trinidad and Tobago (+21.2% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, jumping by 143% against the previous year. Over the period under review, the export price saw a strong increase. Over the period under review, the export prices reached the maximum 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 Mexico ($X per ton), while Argentina ($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 (+17.1%), while the other leaders experienced a decline in the export price figures.

Other Chemical Products Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of other chemical products increased by 63% to X tons for the first time since 2014, thus ending a seven-year declining trend. Overall, imports, however, saw a drastic downturn. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, other chemical products imports soared to $X in 2022. Over the period under review, imports, however, showed a deep setback. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Mexico represented the main importing country with an import of about X tons, which amounted to 41% of total imports. Costa Rica (X tons) ranks second in terms of the total imports with a 14% share, followed by Peru (14%), Colombia (13%) and Ecuador (9.6%). Trinidad and Tobago (X tons) and Suriname (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to other chemical products imports into Mexico stood at -9.0%. At the same time, Suriname (+28.3%), Costa Rica (+7.6%), Trinidad and Tobago (+6.6%) and Peru (+4.4%) displayed positive paces of growth. Moreover, Suriname emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +28.3% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Ecuador (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Costa Rica, Peru, Colombia, Ecuador, Trinidad and Tobago and Suriname increased by +12, +10, +8.2, +4.6, +2.5 and +2.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported other chemical products in Latin America and the Caribbean, comprising 51% of total imports. The second position in the ranking was taken by Peru ($X), with a 14% share of total imports. It was followed by Colombia, with a 13% share.

In Mexico, other chemical products imports decreased by an average annual rate of -4.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Peru (+8.3% per year) and Colombia (-1.2% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by 23% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The level of import peaked at $X per ton in 2020; however, from 2021 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 Mexico ($X per ton), while Ecuador ($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 (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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