Mexico: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Mexico

The Mexican plant-growth regulators market surged to $X in 2022, rising by 119% 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, consumption continues to indicate a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Plant-Growth Regulators Exports

Exports from Mexico

After two years of decline, shipments abroad of plant-growth regulators increased by 4.8% to X tons in 2022. Overall, exports, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2019 when exports increased by 17%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, plant-growth regulators exports contracted modestly to $X in 2022. Over the period under review, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 9.9%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Guatemala (X tons), the United States (X tons) and Peru (X tons) were the main destinations of plant-growth regulators exports from Mexico, together accounting for 68% of total exports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +3.3%), while shipments for the other leaders experienced a decline.

In value terms, Guatemala ($X), the United States ($X) and Peru ($X) were the largest markets for plant-growth regulators exported from Mexico worldwide, together accounting for 68% of total exports. Colombia, Costa Rica, Nicaragua, Honduras and the Dominican Republic lagged somewhat behind, together comprising a further 28%.

Nicaragua, with a CAGR of +7.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average plant-growth regulators export price amounted to $X per ton, with a decrease of -7.9% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plant-growth regulators export price increased by +14.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 25%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Guatemala ($X per ton) and the United States ($X per ton), while the average price for exports to Peru ($X per ton) and the Dominican Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+29.1%), while the prices for the other major destinations experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports into Mexico

In 2022, imports of plant-growth regulators into Mexico skyrocketed to X tons, increasing by 88% on the previous year. Overall, imports showed a relatively flat trend pattern. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, plant-growth regulators imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and Germany (X tons) were the main suppliers of plant-growth regulators imports to Mexico, with a combined 90% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +27.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Germany ($X) appeared to be the largest plant-growth regulators suppliers to Mexico, together accounting for 90% of total imports.

Among the main suppliers, China, with a CAGR of +17.5%, recorded 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

The average plant-growth regulators import price stood at $X per ton in 2022, rising by 2.3% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 18%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform