Peru: Other Chemical Products Market 2024

Other Chemical Products Market Size in Peru

In 2022, the Peruvian other chemical products market decreased by -4.2% to $X for the first time since 2014, thus ending a seven-year rising trend. Over the period under review, consumption, however, showed a prominent expansion. Over the period under review, the market attained the peak level at $X in 2021, and then dropped in the following year.

Other Chemical Products Exports

Exports from Peru

After six years of decline, overseas shipments of other chemical products increased by 25% to X tons in 2022. Over the period under review, exports, however, faced a dramatic setback. The pace of growth was the most pronounced in 2015 with an increase of 44%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, other chemical products exports surged to $X in 2022. In general, exports, however, showed a precipitous decrease. The pace of growth was the most pronounced in 2013 with an increase of 36%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Brazil (X tons) was the main destination for other chemical products exports from Peru, with a 67% share of total exports. Moreover, other chemical products exports to Brazil exceeded the volume sent to the second major destination, Ecuador (X tons), sevenfold. Thailand (X tons) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil totaled -27.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-29.2% per year) and Thailand (-36.4% per year).

In value terms, Brazil ($X) remains the key foreign market for other chemical products exports from Peru, comprising 61% of total exports. The second position in the ranking was held by Ecuador ($X), with a 16% share of total exports. It was followed by Bolivia, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil amounted to -22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-24.8% per year) and Bolivia (-33.6% per year).

Export Prices by Country

In 2022, the average other chemical products export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price saw a slight curtailment. The most prominent rate of growth was recorded in 2017 an increase of 65% against the previous year. 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 lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Portugal ($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 Bolivia (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Other Chemical Products Imports

Imports into Peru

After seven years of growth, purchases abroad of other chemical products decreased by -3.3% to X tons in 2022. In general, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.4% 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 +108.8% against 2014 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined slightly in the following year.

In value terms, other chemical products imports dropped modestly to $X in 2022. Overall, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of 57% against the previous year. Imports peaked at $X in 2021, and then fell slightly in the following year.

Imports by Country

China (X tons), the United States (X tons) and Colombia (X tons) were the main suppliers of other chemical products imports to Peru, with a combined 39% share of total imports. Chile, Germany, Spain, the UK, Mexico, Brazil, India and Italy lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +27.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of other chemical products to Peru, comprising 26% of total imports. The second position in the ranking was taken by the United States ($X), with an 11% share of total imports. It was followed by Germany, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value from Chile amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.3% per year) and Germany (+10.2% per year).

Import Prices by Country

The average other chemical products import price stood at $X per ton in 2022, flattening at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The growth pace was the most rapid in 2013 when the average import price increased by 24% against the previous year. The import price peaked at $X per ton in 2021, and then contracted in the following year.

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 Chile ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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