Mexico: Composite Laboratory Reagents Market 2024

Composite Laboratory Reagents Market Size in Mexico

In 2022, the Mexican composite laboratory reagents market decreased by -27.2% to $X, falling for the second consecutive year after three years of growth. In general, consumption saw a deep downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Composite Laboratory Reagents Production in Mexico

In value terms, composite laboratory reagents production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2019 when the production volume increased by 15%. Composite laboratory reagents production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Composite Laboratory Reagents Exports

Exports from Mexico

Composite laboratory reagents exports from Mexico soared to X tons in 2022, increasing by 171% on the previous year's figure. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 862%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, composite laboratory reagents exports amounted to $X in 2022. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 628%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for composite laboratory reagents exports from Mexico, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +30.0%.

In value terms, the United States ($X) also remains the key foreign market for composite diagnostic or laboratory reagents exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +12.2%.

Export Prices by Country

The average composite laboratory reagents export price stood at $X per ton in 2022, shrinking by -60.2% against the previous year. Overall, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of 30%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -13.7% per year.

Composite Laboratory Reagents Imports

Imports into Mexico

For the fourth year in a row, Mexico recorded growth in purchases abroad of composite diagnostic or laboratory reagents, which increased by 30% to X tons in 2022. Overall, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +116.7% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, composite laboratory reagents imports surged to $X in 2022. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 49% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest composite laboratory reagents supplier to Mexico, accounting for a 50% share of total imports. Moreover, composite laboratory reagents imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.0% per year) and Germany (+0.3% per year).

In value terms, the United States ($X) constituted the largest supplier of composite diagnostic or laboratory reagents to Mexico, comprising 52% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.7% share of total imports. It was followed by China, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.4% per year) and China (+37.6% per year).

Import Prices by Country

The average composite laboratory reagents import price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, composite laboratory reagents import price decreased by -0.0% against 2020 indices. The growth pace was the most rapid in 2016 when the average import price increased by 66%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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