Mexico: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in Mexico

The Mexican aromatic alcohols market rose significantly to $X in 2021, with an increase of 7.2% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Aromatic Alcohols Production in Mexico

In value terms, aromatic alcohols production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable decrease. The growth pace was the most rapid in 2019 when the production volume increased by 24% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Aromatic Alcohols Exports

Exports from Mexico

After two years of growth, shipments abroad of aromatic alcohols and their derivatives decreased by -24.4% to X tons in 2021. In general, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2016 with an increase of 261% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, aromatic alcohols exports shrank to $X in 2021. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 194% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for aromatic alcohols exports from Mexico, accounting for a 43% share of total exports. Moreover, aromatic alcohols exports to the United States exceeded the volume sent to the second major destination, Guatemala (X tons), threefold. Switzerland (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+26.3% per year) and Switzerland (-13.0% per year).

In value terms, the United States ($X), Switzerland ($X) and Guatemala ($X) were the largest markets for aromatic alcohols exported from Mexico worldwide, together accounting for 67% of total exports.

In terms of the main countries of destination, Guatemala, with a CAGR of +23.9%, 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

The average aromatic alcohols export price stood at $X per ton in 2021, surging by 15% against the previous year. In general, the export price, however, showed a abrupt setback. The growth pace was the most rapid in 2019 an increase of 23% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.

Aromatic Alcohols Imports

Imports into Mexico

In 2021, the amount of aromatic alcohols and their derivatives imported into Mexico contracted remarkably to X tons, waning by -16.5% compared with the previous year's figure. Overall, imports, however, showed a resilient increase. The growth pace was the most rapid in 2017 when imports increased by 61% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020, and then declined dramatically in the following year.

In value terms, aromatic alcohols imports contracted sharply to $X in 2021. Over the period under review, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 57%. Over the period under review, imports attained the peak figure at $X in 2020, and then shrank significantly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of aromatic alcohols to Mexico, accounting for a 60% share of total imports. Moreover, aromatic alcohols imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.7% per year) and Germany (-4.5% per year).

In value terms, China ($X) constituted the largest supplier of aromatic alcohols and their derivatives to Mexico, comprising 73% of total imports. The second position in the ranking was taken by the United States ($X), with a 9.3% share of total imports. It was followed by Germany, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.7% per year) and Germany (-7.8% per year).

Import Prices by Country

In 2021, the average aromatic alcohols import price amounted to $X per ton, waning by -31.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 22% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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