Mexico: Resinoids Market 2022

Resinoids Market Size in Mexico

In 2021, the Mexican resinoids market was finally on the rise to reach $X after four years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Resinoids Production in Mexico

In value terms, resinoids production expanded markedly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 60%. Resinoids production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Resinoids Exports

Exports from Mexico

After two years of growth, overseas shipments of resinoids decreased by -48.6% to X tons in 2021. Over the period under review, exports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2020 with an increase of 129% against the previous year. As a result, the exports reached the peak of X tons, and then fell dramatically in the following year.

In value terms, resinoids exports contracted sharply to $X in 2021. In general, exports saw a pronounced downturn. The growth pace was the most rapid in 2020 when exports increased by 142%. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

The United States (X tons), Peru (X tons) and Guatemala (X kg) were the main destinations of resinoids exports from Mexico, together comprising 87% of total exports.

From 2012 to 2021, the biggest increases were in Guatemala (with a CAGR of +29.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for resinoids exports from Mexico, comprising 20% of total exports. The second position in the ranking was held by Guatemala ($X), with a 6.1% share of total exports. It was followed by Colombia, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+25.8% per year) and Colombia (+2.0% per year).

Export Prices by Country

In 2021, the average resinoids export price amounted to $X per ton, which is down by -25% against the previous year. Over the period under review, the export price saw a slight curtailment. The most prominent rate of growth was recorded in 2018 when the average export price increased by 92% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Peru ($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 Costa Rica (+15.6%), while the prices for the other major destinations experienced mixed trend patterns.

Resinoids Imports

Imports into Mexico

In 2021, the amount of resinoids imported into Mexico declined slightly to X tons, reducing by -2.9% against 2020 figures. In general, imports saw a pronounced setback. The most prominent rate of growth was recorded in 2016 with an increase of 50% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, resinoids imports fell significantly to $X in 2021. Overall, imports saw a slight slump. The pace of growth appeared the most rapid in 2016 when imports increased by 49%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X tons), France (X tons) and Spain (X kg) were the main suppliers of resinoids imports to Mexico, with a combined 95% share of total imports. India lagged somewhat behind, accounting for a further 5.2%.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +14.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, France ($X) constituted the largest supplier of resinoids to Mexico, comprising 68% of total imports. The second position in the ranking was held by Spain ($X), with a 17% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-2.9% per year) and the United States (-0.8% per year).

Import Prices by Country

The average resinoids import price stood at $X per ton in 2021, shrinking by -18.8% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, resinoids import price decreased by -47.0% against 2015 indices. The pace of growth appeared the most rapid in 2015 when the average import price increased by 48% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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