Mexico: Quinones Market 2024

Quinones Market Size in Mexico

In 2022, the Mexican quinones market decreased by -17.3% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, continues to indicate a pronounced expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Quinones Production in Mexico

In value terms, quinones production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 44%. Quinones production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Quinones Exports

Exports from Mexico

In 2022, overseas shipments of quinones were finally on the rise to reach X tons after three years of decline. In general, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2013 when exports increased by 159%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, quinones exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2017 when exports increased by 240%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Brazil (X tons) was the main destination for quinones exports from Mexico, accounting for a 92% share of total exports. Moreover, quinones exports to Brazil exceeded the volume sent to the second major destination, Colombia (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil stood at +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+77.4% per year) and the United States (-4.5% per year).

In value terms, the largest markets for quinones exported from Mexico were the United States ($X), Brazil ($X) and Colombia ($X), together accounting for 99.9% of total exports.

In terms of the main countries of destination, Colombia, with a CAGR of +109.2%, 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 quinones export price stood at $X per ton in 2022, surging by 3.3% against the previous year. In general, the export price showed notable growth. The pace of growth appeared the most rapid in 2017 an increase of 317%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.

Quinones Imports

Imports into Mexico

In 2022, supplies from abroad of quinones decreased by -40.5% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a abrupt slump. The growth pace was the most rapid in 2020 when imports increased by 380% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, quinones imports shrank markedly to $X in 2022. In general, imports faced a abrupt decline. The pace of growth appeared the most rapid in 2020 when imports increased by 212% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest quinones supplier to Mexico, accounting for a 90% share of total imports. Moreover, quinones imports from China exceeded the figures recorded by the second-largest supplier, Japan (X kg), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -4.6%.

In value terms, China ($X) constituted the largest supplier of quinones to Mexico, comprising 85% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to -10.0%.

Import Prices by Country

The average quinones import price stood at $X per ton in 2022, which is down by -38.8% against the previous year. Overall, the import price showed a deep reduction. The pace of growth appeared the most rapid in 2017 when the average import price increased by 40%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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