MERCOSUR: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in MERCOSUR

The MERCOSUR urea and thiourea resins market totaled $X in 2022, almost unchanged from the previous year. In general, consumption, however, continues to indicate a mild slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Urea Resins And Thiourea Resins In Primary Forms in MERCOSUR

In value terms, urea and thiourea resins production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight slump. The growth pace was the most rapid in 2017 with an increase of 12%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports in MERCOSUR

In 2022, approx. X tons of urea resins and thiourea resins in primary forms were exported in MERCOSUR; reducing by -16.3% compared with the previous year. Over the period under review, exports, however, showed a strong increase. The growth pace was the most rapid in 2021 when exports increased by 107%. As a result, the exports reached the peak of X tons, and then shrank markedly in the following year.

In value terms, urea and thiourea resins exports fell to $X in 2022. Overall, exports, however, posted a notable expansion. The pace of growth appeared the most rapid in 2021 with an increase of 137%. As a result, the exports reached the peak of $X, and then shrank modestly in the following year.

Exports by Country

Brazil represented the largest exporting country with an export of around X tons, which accounted for 71% of total exports. Peru (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Colombia (12%). Chile (X tons) followed a long way behind the leaders.

Exports from Brazil increased at an average annual rate of +13.5% from 2012 to 2022. At the same time, Peru (+51.8%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +51.8% from 2012-2022. By contrast, Colombia (-1.8%) and Chile (-6.6%) illustrated a downward trend over the same period. Brazil (+38 p.p.) and Peru (+13 p.p.) significantly strengthened its position in terms of the total exports, while Chile and Colombia saw its share reduced by -5.9% and -12% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest urea and thiourea resins supplier in MERCOSUR, comprising 69% of total exports. The second position in the ranking was taken by Colombia ($X), with a 13% share of total exports. It was followed by Peru, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Brazil totaled +12.0%. In the other countries, the average annual rates were as follows: Colombia (-3.5% per year) and Peru (+33.8% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, growing by 17% against the previous year. Over the period under review, the export price, however, continues to indicate a mild decline. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Colombia ($X per ton) and Chile ($X per ton), while Peru ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+2.6%), while the other leaders experienced a decline in the export price figures.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports in MERCOSUR

After five years of growth, purchases abroad of urea resins and thiourea resins in primary forms decreased by -14.8% to X tons in 2022. Overall, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 86%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, urea and thiourea resins imports dropped modestly to $X in 2022. Over the period under review, imports, however, recorded a tangible increase. The most prominent rate of growth was recorded in 2021 when imports increased by 92% against the previous year. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

Argentina was the major importer of urea resins and thiourea resins in primary forms in MERCOSUR, with the volume of imports finishing at X tons, which was near 44% of total imports in 2022. It was distantly followed by Paraguay (X tons), Ecuador (X tons) and Brazil (X tons), together achieving a 48% share of total imports. Colombia (X tons), Peru (X tons) and Chile (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Argentina (with a CAGR of +38.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Brazil ($X) and Paraguay ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 71% of total imports.

Argentina, with a CAGR of +26.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, jumping by 17% against the previous year. Overall, the import price, however, showed a mild reduction. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per ton), while Paraguay ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform