Mexico: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Mexico

The Mexican carboxylic acid market skyrocketed to $X in 2021, picking up by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +54.7% against 2014 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Carboxylic Acid Exports

Exports from Mexico

In 2021, shipments abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions decreased by -26% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports faced a sharp slump. The most prominent rate of growth was recorded in 2018 when exports increased by 231% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, carboxylic acid exports dropped rapidly to $X in 2021. Overall, exports faced a sharp decline. The most prominent rate of growth was recorded in 2018 with an increase of 502%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Colombia (X tons) and Guatemala (X tons) were the main destinations of carboxylic acid exports from Mexico, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia (with a CAGR of -10.6%), while the other leaders experienced a decline.

In value terms, the largest markets for carboxylic acid exported from Mexico were the United States ($X), Colombia ($X) and Guatemala ($X), with a combined 99% share of total exports.

Guatemala, with a CAGR of +6.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average carboxylic acid export price amounted to $X per ton, shrinking by -50.3% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2017 when the average export price increased by 202% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Guatemala ($X per ton), while the average price for exports to the United States ($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 Guatemala (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into Mexico

In 2021, the amount of carboxylic acid with alcohol, phenol, aldehyde or ketone functions imported into Mexico soared to X tons, growing by 28% against the previous year's figure. Overall, total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +107.2% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, carboxylic acid imports rose remarkably to $X in 2021. The total import value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 16%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and India (X tons) were the main suppliers of carboxylic acid imports to Mexico, with a combined 73% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +11.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and the United States ($X) appeared to be the largest carboxylic acid suppliers to Mexico, with a combined 80% share of total imports.

Among the main suppliers, India, with a CAGR of +8.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average carboxylic acid import price amounted to $X per ton, reducing by -12% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 37%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :