Latin America and the Caribbean: Saturated Acyclic Hydrocarbons Market 2024

Saturated Acyclic Hydrocarbons Market Size in Latin America and the Caribbean

In 2022, the Latin American saturated acyclic hydrocarbons market increased by 1.2% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, recorded a mild curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Saturated Acyclic Hydrocarbons Production in Latin America and the Caribbean

In value terms, saturated acyclic hydrocarbons production stood at $X in 2022 estimated in export price. In general, production continues to indicate a noticeable slump. The growth pace was the most rapid in 2014 with an increase of 20% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Saturated Acyclic Hydrocarbons Exports

Exports in Latin America and the Caribbean

In 2022, the amount of saturated acyclic hydrocarbons exported in Latin America and the Caribbean fell markedly to X tons, which is down by -31.5% against the year before. Over the period under review, exports, however, continue to indicate a notable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 239% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then declined significantly in the following year.

In value terms, saturated acyclic hydrocarbons exports skyrocketed to $X in 2022. Overall, exports, however, showed resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 61% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Bolivia was the key exporting country with an export of about X tons, which resulted at 64% of total exports. It was distantly followed by Argentina (X tons), Brazil (X tons) and Guatemala (X tons), together mixing up a 26% share of total exports. The following exporters - Nicaragua (X tons) and Venezuela (X tons) - each accounted for a 7.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to saturated acyclic hydrocarbons exports from Bolivia stood at +71.3%. At the same time, Brazil (+72.0%), Nicaragua (+11.1%), Guatemala (+2.0%) and Argentina (+1.8%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +72.0% from 2012-2022. By contrast, Venezuela (-22.2%) illustrated a downward trend over the same period. Bolivia (+64 p.p.), Brazil (+6.8 p.p.) and Nicaragua (+3.9 p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Venezuela saw its share reduced by -2.5% and -60.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest saturated acyclic hydrocarbons supplying countries in Latin America and the Caribbean were Brazil ($X), Bolivia ($X) and Argentina ($X), with a combined 89% share of total exports.

Among the main exporting countries, Bolivia, with a CAGR of +104.8%, saw 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, growing by 104% against the previous year. In general, the export price saw moderate growth. The growth pace was the most rapid in 2015 an increase of 132%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat 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 Brazil ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+19.6%), while the other leaders experienced more modest paces of growth.

Saturated Acyclic Hydrocarbons Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of saturated acyclic hydrocarbons increased by 47% to X tons, rising for the second year in a row after two years of decline. In general, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 230%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, saturated acyclic hydrocarbons imports surged to $X in 2022. Overall, imports recorded a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 111%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Mexico dominates imports structure, amounting to X tons, which was near 85% of total imports in 2022. It was distantly followed by Brazil (X tons), creating an 8.8% share of total imports. The following importers - Dominica (X tons) and Peru (X tons) - each amounted to a 4.4% share of total imports.

Imports into Mexico increased at an average annual rate of +14.2% from 2012 to 2022. At the same time, Dominica (+91.2%), Peru (+26.8%) and Brazil (+19.9%) displayed positive paces of growth. Moreover, Dominica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +91.2% from 2012-2022. Brazil (+3.4 p.p.) and Dominica (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported saturated acyclic hydrocarbons in Latin America and the Caribbean, comprising 81% of total imports. The second position in the ranking was taken by Brazil ($X), with a 12% share of total imports. It was followed by Peru, with a 1.2% share.

In Mexico, saturated acyclic hydrocarbons imports expanded at an average annual rate of +4.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+14.3% per year) and Peru (+11.3% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price, however, saw a deep contraction. The growth pace was the most rapid in 2020 when the import price increased by 16% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Dominica ($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 (-4.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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