Latin America and the Caribbean: Toluene Market 2024

Toluene Market Size in Latin America and the Caribbean

In 2021, the Latin American toluene market was finally on the rise to reach $X after three years of decline. Overall, consumption, however, continues to indicate a noticeable setback. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Toluene Production in Latin America and the Caribbean

In value terms, toluene production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible setback. The pace of growth appeared the most rapid in 2013 when the production volume increased by 13%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Toluene Exports

Exports in Latin America and the Caribbean

In 2021, the amount of toluene exported in Latin America and the Caribbean declined markedly to X tons, falling by -25.8% compared with 2020 figures. Overall, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2013 when exports increased by 110% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, toluene exports skyrocketed to $X in 2021. In general, exports saw a deep setback. The growth pace was the most rapid in 2013 when exports increased by 110%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Brazil represented the main exporting country with an export of around X tons, which finished at 65% of total exports. It was distantly followed by Colombia (X tons) and Argentina (X tons), together making up a 30% share of total exports. Guatemala (X tons) took a little share of total exports.

Exports from Brazil decreased at an average annual rate of -4.3% from 2012 to 2021. At the same time, Argentina (+7.0%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +7.0% from 2012-2021. By contrast, Guatemala (-9.3%) and Colombia (-11.0%) illustrated a downward trend over the same period. Argentina (+9.3 p.p.) and Brazil (+5.1 p.p.) significantly strengthened its position in terms of the total exports, while Colombia saw its share reduced by -12.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest toluene supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was taken by Colombia ($X), with a 15% share of total exports. It was followed by Argentina, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Brazil totaled -9.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (-16.3% per year) and Argentina (-1.3% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 59% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Guatemala ($X per ton) and Brazil ($X per ton), while Argentina ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (-4.6%), while the other leaders experienced a decline in the export price figures.

Toluene Imports

Imports in Latin America and the Caribbean

In 2021, the amount of toluene imported in Latin America and the Caribbean surged to X tons, rising by 41% against the previous year's figure. In general, imports, however, saw a mild decrease. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, toluene imports soared to $X in 2021. Over the period under review, imports, however, showed a deep reduction. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Mexico (X tons) represented the main importer of toluene, mixing up 46% of total imports. The Dominican Republic (X tons) held the second position in the ranking, followed by Guatemala (X tons), Peru (X tons), Saint Vincent and the Grenadines (X tons) and Ecuador (X tons). All these countries together took approx. 35% share of total imports. Costa Rica (X tons) took a minor share of total imports.

Imports into Mexico decreased at an average annual rate of -4.2% from 2012 to 2021. At the same time, Saint Vincent and the Grenadines (+117.3%), the Dominican Republic (+2.8%) and Ecuador (+2.4%) displayed positive paces of growth. Moreover, Saint Vincent and the Grenadines emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +117.3% from 2012-2021. Costa Rica and Guatemala experienced a relatively flat trend pattern. By contrast, Peru (-5.0%) illustrated a downward trend over the same period. Saint Vincent and the Grenadines (+5.7 p.p.) and the Dominican Republic (+3 p.p.) significantly strengthened its position in terms of the total imports, while Peru and Mexico saw its share reduced by -2.5% and -11.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported toluene in Latin America and the Caribbean, comprising 42% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with a 10% share of total imports. It was followed by Guatemala, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico totaled -9.5%. In the other countries, the average annual rates were as follows: the Dominican Republic (-0.7% per year) and Guatemala (-4.6% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 10% against the previous year. In general, the import price, however, continues to indicate a abrupt decline. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ecuador ($X per ton), while Saint Vincent and the Grenadines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (-3.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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