MERCOSUR: Salicylic Acid Market 2024

Salicylic Acid Market Size in MERCOSUR

In 2021, the MERCOSUR salicylic acid market decreased by -7.8% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption showed resilient growth. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

Salicylic Acid Production in MERCOSUR

In value terms, salicylic acid production declined to $X in 2021 estimated in export price. In general, production, however, showed a strong expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 54%. The level of production peaked at $X in 2020, and then contracted in the following year.

Salicylic Acid Exports

Exports in MERCOSUR

In 2021, overseas shipments of salicylic acid and its salts were finally on the rise to reach X tons after four years of decline. Over the period under review, exports, however, continue to indicate a sharp setback. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, salicylic acid exports soared to $X in 2021. Overall, exports, however, recorded a dramatic contraction. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil represented the major exporter of salicylic acid and its salts in MERCOSUR, with the volume of exports resulting at X tons, which was near 68% of total exports in 2021. Argentina (X tons) held a 24% share (based on physical terms) of total exports, which put it in second place, followed by Colombia (6.9%).

From 2012 to 2021, average annual rates of growth with regard to salicylic acid exports from Brazil stood at -55.2%. At the same time, Colombia (+30.0%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +30.0% from 2012-2021. By contrast, Argentina (-5.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Argentina and Colombia increased by +24 and +6.9 percentage points, respectively.

In value terms, Brazil ($X), Argentina ($X) and Colombia ($X) constituted the countries with the highest levels of exports in 2021, together comprising 99% of total exports.

In terms of the main exporting countries, Colombia, with a CAGR of +1.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, falling by -25.1% against the previous year. Over the period under review, the export price, however, recorded strong growth. The growth pace was the most rapid in 2019 when the export price increased by 438%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Brazil (+16.1%), while the other leaders experienced a decline in the export price figures.

Salicylic Acid Imports

Imports in MERCOSUR

In 2021, approx. X tons of salicylic acid and its salts were imported in MERCOSUR; jumping by 41% against the previous year's figure. Over the period under review, imports posted a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 53%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, salicylic acid imports soared to $X in 2021. Overall, imports saw resilient growth. The most prominent rate of growth was recorded in 2018 when imports increased by 39% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

Brazil dominates imports structure, finishing at X tons, which was approx. 75% of total imports in 2021. Ecuador (X tons) ranks second in terms of the total imports with a 7.4% share, followed by Chile (5.8%). Colombia (X tons), Argentina (X tons) and Peru (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to salicylic acid imports into Brazil stood at +27.7%. At the same time, Chile (+43.1%), Ecuador (+20.7%), Peru (+5.2%) and Colombia (+3.7%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +43.1% from 2012-2021. By contrast, Argentina (-2.8%) illustrated a downward trend over the same period. While the share of Brazil (+39 p.p.), Chile (+4.8 p.p.) and Ecuador (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Peru (-4.4 p.p.), Colombia (-9.4 p.p.) and Argentina (-18.7 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) constitutes the largest market for imported salicylic acid and its salts in MERCOSUR, comprising 71% of total imports. The second position in the ranking was taken by Peru ($X), with a 7.8% share of total imports. It was followed by Colombia, with a 5.5% share.

In Brazil, salicylic acid imports increased at an average annual rate of +29.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Peru (+1.1% per year) and Colombia (-2.5% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, which is down by -5.6% against the previous year. In general, the import price saw a perceptible setback. The most prominent rate of growth was recorded in 2014 an increase of 16%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Peru ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+2.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform