MERCOSUR: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in MERCOSUR

The MERCOSUR market for compounds with other nitrogen function (excluding isocyanates) was finally on the rise to reach $X in 2022, after two years of decline. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in MERCOSUR

In value terms, compounds with other nitrogen function production contracted to $X in 2022 estimated in export price. Overall, production, however, showed strong growth. The pace of growth was the most pronounced in 2017 with an increase of 92%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports in MERCOSUR

In 2022, after two years of growth, there was significant decline in overseas shipments of compounds with other nitrogen function (excluding isocyanates), when their volume decreased by -48.4% to X tons. Over the period under review, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 316% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then plummeted in the following year.

In value terms, compounds with other nitrogen function exports declined markedly to $X in 2022. In general, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 120%. As a result, the exports attained the peak of $X, and then shrank rapidly in the following year.

Exports by Country

Colombia was the key exporting country with an export of about X tons, which resulted at 75% of total exports. It was distantly followed by Brazil (X tons) and Argentina (X tons), together generating a 25% share of total exports.

Exports from Colombia increased at an average annual rate of +45.4% from 2012 to 2022. At the same time, Argentina (+46.7%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +46.7% from 2012-2022. By contrast, Brazil (-1.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Colombia and Argentina increased by +67 and +8.3 percentage points, respectively.

In value terms, Argentina ($X), Brazil ($X) and Colombia ($X) constituted the countries with the highest levels of exports in 2022, with a combined 99% share of total exports.

Argentina, with a CAGR of +52.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 2022, with an increase of 39% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 88% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a 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 Argentina ($X per ton), while Colombia ($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 (+6.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports in MERCOSUR

In 2022, the amount of compounds with other nitrogen function (excluding isocyanates) imported in MERCOSUR soared to X tons, rising by 20% on 2021 figures. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, compounds with other nitrogen function imports skyrocketed to $X in 2022. Overall, imports recorded resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil was the main importing country with an import of about X tons, which recorded 67% of total imports. It was distantly followed by Argentina (X tons), comprising a 19% share of total imports. The following importers - Chile (X tons), Peru (X tons) and Colombia (X tons) - together made up 9.4% of total imports.

Imports into Brazil increased at an average annual rate of +5.5% from 2012 to 2022. At the same time, Colombia (+10.3%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +10.3% from 2012-2022. Peru experienced a relatively flat trend pattern. By contrast, Chile (-1.1%) and Argentina (-5.7%) illustrated a downward trend over the same period. Brazil (+24 p.p.) significantly strengthened its position in terms of the total imports, while Argentina saw its share reduced by -18.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported compounds with other nitrogen function (excluding isocyanates) in MERCOSUR, comprising 76% of total imports. The second position in the ranking was taken by Argentina ($X), with a 14% share of total imports. It was followed by Chile, with a 3.4% share.

In Brazil, compounds with other nitrogen function imports increased at an average annual rate of +10.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+1.7% per year) and Chile (+7.8% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, growing by 21% against the previous year. Import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, compounds with other nitrogen function import price increased by +83.1% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+8.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform