Mexico: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in Mexico

The Mexican aromatic hydrocarbons derivatives market declined remarkably to $X in 2021, which is down by -15.4% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -25.4% against 2017 indices. Aromatic hydrocarbons derivatives consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Aromatic Hydrocarbons Derivatives Production in Mexico

In value terms, aromatic hydrocarbons derivatives production fell slightly to $X in 2021 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +4.6% against 2019 indices. The growth pace was the most rapid in 2014 when the production volume increased by 41%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Aromatic Hydrocarbons Derivatives Exports

Exports from Mexico

In 2021, the amount of halogenated derivatives of aromatic hydrocarbons exported from Mexico reduced to X tons, waning by -13.6% compared with the year before. Overall, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of 55% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, aromatic hydrocarbons derivatives exports totaled $X in 2021. In general, exports recorded a abrupt contraction. The pace of growth was the most pronounced in 2013 with an increase of 50% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for aromatic hydrocarbons derivatives exports from Mexico, with a 97% share of total exports. It was followed by India (X tons), with a 2.6% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled -6.0%.

In value terms, the United States ($X) remains the key foreign market for halogenated derivatives of aromatic hydrocarbons exports from Mexico, comprising 93% of total exports. The second position in the ranking was taken by India ($X), with a 5.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -7.4%.

Export Prices by Country

The average aromatic hydrocarbons derivatives export price stood at $X per ton in 2021, with an increase of 32% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. 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 India ($X per ton), while the average price for exports to the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+1.5%).

Aromatic Hydrocarbons Derivatives Imports

Imports into Mexico

In 2021, purchases abroad of halogenated derivatives of aromatic hydrocarbons decreased by -40.1% to X tons, falling for the second year in a row after three years of growth. Overall, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 245% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, aromatic hydrocarbons derivatives imports dropped markedly to $X in 2021. Over the period under review, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2013 when imports increased by 110% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest aromatic hydrocarbons derivatives supplier to Mexico, with a 57% share of total imports. Moreover, aromatic hydrocarbons derivatives imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Belgium (X tons), with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.7% per year) and Belgium (+10.0% per year).

In value terms, China ($X) constituted the largest supplier of halogenated derivatives of aromatic hydrocarbons to Mexico, comprising 63% of total imports. The second position in the ranking was taken by the United States ($X), with a 20% share of total imports. It was followed by India, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.7% per year) and India (+0.6% per year).

Import Prices by Country

The average aromatic hydrocarbons derivatives import price stood at $X per ton in 2021, jumping by 38% against the previous year. Overall, the import price saw measured growth. The most prominent rate of growth was recorded in 2015 when the average import price increased by 45%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Portugal ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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