MERCOSUR: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in MERCOSUR

In 2022, the MERCOSUR ethylene glycol market increased by 1.9% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, showed a mild slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ethylene Glycol Production in MERCOSUR

In value terms, ethylene glycol production declined to $X in 2022 estimated in export price. Overall, production recorded a perceptible setback. The pace of growth was the most pronounced in 2017 with an increase of 15%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ethylene Glycol Exports

Exports in MERCOSUR

In 2022, the amount of ethylene glycol (ethanediol) exported in MERCOSUR fell notably to X tons, declining by -85.3% against the previous year's figure. In general, exports showed a precipitous setback. The most prominent rate of growth was recorded in 2021 when exports increased by 340%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethylene glycol exports contracted rapidly to $X in 2022. Overall, exports continue to indicate a dramatic setback. The pace of growth appeared the most rapid in 2021 with an increase of 216%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Venezuela (X tons) was the key exporter of ethylene glycol (ethanediol), generating 65% of total exports. It was distantly followed by Brazil (X tons), comprising a 24% share of total exports. The following exporters - Colombia (X tons), Uruguay (X tons) and Ecuador (X tons) - together made up 7.9% of total exports.

From 2012 to 2022, average annual rates of growth with regard to ethylene glycol exports from Venezuela stood at -32.3%. At the same time, Colombia (+49.1%), Uruguay (+12.2%) and Ecuador (+6.9%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +49.1% from 2012-2022. By contrast, Brazil (-28.6%) illustrated a downward trend over the same period. Brazil (+6.7 p.p.), Colombia (+4.5 p.p.) and Uruguay (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Venezuela saw its share reduced by -15.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Venezuela ($X), Brazil ($X) and Colombia ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 88% of total exports.

In terms of the main exporting countries, Colombia, with a CAGR of +47.1%, recorded 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

In 2022, the export price in MERCOSUR amounted to $X per ton, dropping by -1.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 40%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, 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 Ecuador ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+2.4%), while the other leaders experienced a decline in the export price figures.

Ethylene Glycol Imports

Imports in MERCOSUR

In 2022, supplies from abroad of ethylene glycol (ethanediol) increased by 17% to X tons, rising for the fourth year in a row after two years of decline. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.0% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 34%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, ethylene glycol imports rose remarkably to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +85.1% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 68%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Brazil represented the major importer of ethylene glycol (ethanediol) in MERCOSUR, with the volume of imports reaching X tons, which was near 73% of total imports in 2022. It was distantly followed by Argentina (X tons), constituting a 24% share of total imports.

Brazil was also the fastest-growing in terms of the ethylene glycol (ethanediol) imports, with a CAGR of +14.4% from 2012 to 2022. Argentina experienced a relatively flat trend pattern. From 2012 to 2022, the share of Brazil increased by +33 percentage points.

In value terms, Brazil ($X) constitutes the largest market for imported ethylene glycol (ethanediol) in MERCOSUR, comprising 68% of total imports. The second position in the ranking was taken by Argentina ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at +8.5%.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, declining by -5.7% against the previous year. Overall, the import price saw a abrupt curtailment. The pace of growth was the most pronounced in 2021 when the import price increased by 37%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (-4.8%).

Source: IndexBox Platform