U.S.: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in the U.S.

The U.S. plant-growth regulators market expanded to $X in 2022, with an increase of 3.3% against the previous year. In general, consumption recorded a remarkable increase. Plant-growth regulators consumption peaked in 2022 and is likely to see steady growth in the near future.

Plant-Growth Regulators Production in the U.S.

In value terms, plant-growth regulators production reached $X in 2022. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.0% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 24%. Plant-growth regulators production peaked at $X in 2020; afterwards, it flattened through to 2022.

Plant-Growth Regulators Exports

Exports from the U.S.

In 2022, approx. X tons of plant-growth regulators were exported from the United States; growing by 12% compared with 2021 figures. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 28%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plant-growth regulators exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 30%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Canada (X tons) was the main destination for plant-growth regulators exports from the United States, with a 64% share of total exports. Moreover, plant-growth regulators exports to Canada exceeded the volume sent to the second major destination, Brazil (X tons), fivefold. Mexico (X tons) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+8.2% per year) and Mexico (-0.0% per year).

In value terms, the largest markets for plant-growth regulators exported from the United States were Canada ($X), Brazil ($X) and Mexico ($X), together comprising 75% of total exports.

In terms of the main countries of destination, Brazil, with a CAGR of +9.9%, 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 plant-growth regulators export price stood at $X per ton in 2022, increasing by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Canada ($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 Mexico (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports into the U.S.

For the third consecutive year, the United States recorded growth in supplies from abroad of plant-growth regulators, which increased by 42% to X tons in 2022. Over the period under review, imports enjoyed a resilient increase. The growth pace was the most rapid in 2015 when imports increased by 54%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, plant-growth regulators imports surged to $X in 2022. In general, imports recorded a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), India (X tons) and the UK (X tons) were the main suppliers of plant-growth regulators imports to the United States, with a combined 65% share of total imports.

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 +33.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Germany ($X) appeared to be the largest plant-growth regulators suppliers to the United States, together accounting for 62% of total imports.

In terms of the main suppliers, India, with a CAGR of +34.1%, 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

In 2022, the average plant-growth regulators import price amounted to $X per ton, surging by 28% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform