Latin America and the Caribbean: Resinoids Market 2024

Resinoids Market Size in Latin America and the Caribbean

The Latin American resinoids market fell slightly to $X in 2022, with a decrease of -4.1% against the previous year. Over the period under review, consumption recorded a abrupt decrease. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Resinoids Production in Latin America and the Caribbean

In value terms, resinoids production contracted to $X in 2022 estimated in export price. In general, production recorded a deep reduction. The pace of growth was the most pronounced in 2013 when the production volume increased by 17% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Resinoids Exports

Exports in Latin America and the Caribbean

In 2022, the amount of resinoids exported in Latin America and the Caribbean soared to X tons, picking up by 43% on the year before. Over the period under review, exports saw a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 112%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, resinoids exports soared to $X in 2022. In general, exports saw a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 150% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Jamaica represented the key exporting country with an export of around X tons, which resulted at 76% of total exports. It was distantly followed by Guatemala (X tons), constituting a 19% share of total exports. Panama (X tons) held a relatively small share of total exports.

Exports from Jamaica increased at an average annual rate of +22.1% from 2012 to 2022. At the same time, Guatemala (+88.4%) and Panama (+40.2%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +88.4% from 2012-2022. While the share of Jamaica (+20 p.p.), Guatemala (+19 p.p.) and Panama (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Jamaica ($X) remains the largest resinoids supplier in Latin America and the Caribbean, comprising 52% of total exports. The second position in the ranking was held by Guatemala ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Jamaica amounted to +20.8%. In the other countries, the average annual rates were as follows: Guatemala (+87.9% per year) and Panama (+42.3% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -15.7% against the previous year. In general, the export price showed a deep slump. The most prominent rate of growth was recorded in 2017 when the export price increased by 115% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 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 Panama ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+1.5%), while the other leaders experienced a decline in the export price figures.

Resinoids Imports

Imports in Latin America and the Caribbean

Resinoids imports surged to X tons in 2022, increasing by 16% against the year before. In general, imports continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 195%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, resinoids imports totaled $X in 2022. Overall, imports, however, continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 44%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Haiti (X tons) was the largest importer of resinoids, creating 67% of total imports. It was distantly followed by the Dominican Republic (X tons), committing a 16% share of total imports. The following importers - Guatemala (X tons), Brazil (X tons), Colombia (X tons) and Honduras (X tons) - together made up 10% of total imports.

Haiti was also the fastest-growing in terms of the resinoids imports, with a CAGR of +43.2% from 2012 to 2022. At the same time, Honduras (+12.4%) and Colombia (+3.9%) displayed positive paces of growth. By contrast, Guatemala (-2.8%), the Dominican Republic (-9.3%) and Brazil (-10.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Haiti increased by +65 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Haiti ($X), Brazil ($X) and Colombia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 64% share of total imports.

Haiti, with a CAGR of +39.8%, saw the highest growth rate of the value of imports, in terms of 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, falling by -13.8% against the previous year. In general, the import price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of 80%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+20.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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