Report Update Nov 1, 2024

Uruguay - Formic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Uruguay: Market for Formic Acid, Its Salts And Esters 2024

Market Size for Formic Acid, Its Salts And Esters in Uruguay

In 2021, the Uruguayan market for formic acid, its salts and esters was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, saw a abrupt decline. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Formic Acid, Its Salts And Esters

Exports from Uruguay

In 2021, approx. X tons of formic acid, its salts and esters were exported from Uruguay; reducing by -28.6% compared with the year before. In general, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by 117%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of formic acid, its salts and esters expanded remarkably to $X in 2021. Overall, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 74% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Brazil (X tons) was the main destination for exports of formic acid, its salts and esters from Uruguay, with a 63% share of total exports. Moreover, exports of formic acid, its salts and esters to Brazil exceeded the volume sent to the second major destination, Argentina (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Brazil amounted to +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+113.3% per year) and Paraguay (+17.9% per year).

In value terms, Brazil ($X), Argentina ($X) and Paraguay ($X) appeared to be the largest markets for formic acid, its salts and esters exported from Uruguay worldwide.

Argentina, with a CAGR of +62.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for formic acid, its salts and esters stood at $X per ton in 2021, surging by 48% against the previous year. In general, the export price, however, showed a deep downturn. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Paraguay ($X per ton), while the average price for exports to Brazil ($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 Ecuador (+73.6%), while the prices for the other major destinations experienced a decline.

Imports of Formic Acid, Its Salts And Esters

Imports into Uruguay

In 2021, purchases abroad of formic acid, its salts and esters increased by 67% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a abrupt curtailment. Over the period under review, imports of attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of formic acid, its salts and esters soared to $X in 2021. In general, imports, however, showed a abrupt contraction. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Sweden (X tons), China (X tons) and Spain (X tons) were the main suppliers of imports of formic acid, its salts and esters to Uruguay, with a combined 63% share of total imports. These countries were followed by Finland, Taiwan (Chinese), Turkey, the United States, Germany and Belgium, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +37.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest formic acid, its salts and esters suppliers to Uruguay were China ($X), Sweden ($X) and Finland ($X), with a combined 55% share of total imports. Spain, the United States, Taiwan (Chinese), Turkey, Germany and Belgium lagged somewhat behind, together accounting for a further 26%.

Among the main suppliers, the United States, with a CAGR of +24.1%, saw the highest growth rate of 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 import price for formic acid, its salts and esters stood at $X per ton in 2021, with an increase of 12% against the previous year. In general, the import price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by 45% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for formic acid, its salts and esters in the world?

The country with the largest volume of consumption of formic acid, its salts and esters was China, accounting for 26% of total volume. Moreover, consumption of formic acid, its salts and esters in China exceeded the figures recorded by the second-largest consumer, India, twofold. The United States ranked third in terms of total consumption with a 9.8% share.

What are the largest producers of formic acid, its salts and esters in the world?

China constituted the country with the largest volume of production of formic acid, its salts and esters, accounting for 41% of total volume. Moreover, production of formic acid, its salts and esters in China exceeded the figures recorded by the second-largest producer, the United States, fourfold. The third position in this ranking was occupied by India, with an 8.1% share.

What are the leading suppliers of formic acid, its salts and esters to Uruguay?

In value terms, China constituted the largest supplier of formic acid, its salts and esters to Uruguay, comprising 55% of total imports. The second position in the ranking was occupied by Sweden, with a 20% share of total imports. It was followed by the United States, with a 10% share.

What are the leading importers of formic acid, its salts and esters from Uruguay?

In value terms, Brazil remains the key foreign market for formic acid, its salts and esters exports from Uruguay, comprising 68% of total exports. The second position in the ranking was occupied by China, with an 18% share of total exports.

What is the average export price for formic acid, its salts and esters in Uruguay?

In 2020, the average export price for formic acid, its salts and esters amounted to $510 per ton, waning by -51% against the previous year.

What is the average import price for formic acid, its salts and esters in Uruguay?

The average import price for formic acid, its salts and esters stood at $519 per ton in 2020, dropping by -9% against the previous year.

This report provides an in-depth analysis of the market for formic acid, its salts and esters in Uruguay. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20143250 - Formic acid, its salts and esters

Country coverage:

Uruguay

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Uruguay
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023