MERCOSUR: Baking Soda Market 2024

Baking Soda Market Size in MERCOSUR

After two years of growth, the MERCOSUR baking soda market decreased by -1.7% to $X in 2021. The market value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then declined modestly in the following year.

Baking Soda Production in MERCOSUR

In value terms, baking soda production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 8.7%. Over the period under review, production attained the maximum level at $X in 2020, and then reduced modestly in the following year.

Baking Soda Exports

Exports in MERCOSUR

In 2021, overseas shipments of baking soda decreased by -1.9% to X tons, falling for the third year in a row after two years of growth. In general, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2018 with an increase of 23%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, baking soda exports amounted to $X in 2021. Overall, exports showed a deep setback. The growth pace was the most rapid in 2018 when exports increased by 17% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil represented the largest exporting country with an export of around X tons, which resulted at 55% of total exports. Peru (X tons) ranks second in terms of the total exports with a 23% share, followed by Argentina (17%). Colombia (X tons) followed a long way behind the leaders.

Exports from Brazil decreased at an average annual rate of -12.2% from 2012 to 2021. At the same time, Peru (+10.8%), Argentina (+8.5%) and Colombia (+5.7%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +10.8% from 2012-2021. Peru (+19 p.p.), Argentina (+13 p.p.) and Colombia (+2.9 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -34.2% from 2012 to 2021, respectively.

In value terms, Brazil ($X), Peru ($X) and Argentina ($X) constituted the countries with the highest levels of exports in 2021, with a combined 91% share of total exports. Colombia lagged somewhat behind, comprising a further 6.4%.

Among the main exporting countries, Colombia, with a CAGR of +15.7%, saw the highest growth rate of 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

The export price in MERCOSUR stood at $X per ton in 2021, increasing by 3.1% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 6.5% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+9.4%), while the other leaders experienced a decline in the export price figures.

Baking Soda Imports

Imports in MERCOSUR

Baking soda imports reduced to X tons in 2021, which is down by -8.7% against the year before. Total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +65.6% against 2014 indices. The growth pace was the most rapid in 2018 with an increase of 27%. Over the period under review, imports attained the maximum at X tons in 2020, and then reduced in the following year.

In value terms, baking soda imports amounted to $X in 2021. In general, imports, however, saw resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 36%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Chile (X tons), Brazil (X tons), Peru (X tons) and Argentina (X tons) was the largest importer of baking soda in MERCOSUR, generating 78% of total import. It was distantly followed by Colombia (X tons), comprising a 10% share of total imports. The following importers - Uruguay (X tons) and Ecuador (X tons) - each accounted for a 7.7% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +13.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constitutes the largest market for imported baking soda in MERCOSUR, comprising 38% of total imports. The second position in the ranking was held by Brazil ($X), with a 16% share of total imports. It was followed by Argentina, with a 14% share.

In Chile, baking soda imports expanded at an average annual rate of +17.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+13.1% per year) and Argentina (-4.4% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, rising by 14% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Chile ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform