Uruguay: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Uruguay

The Uruguayan odoriferous substance mixture market rose slightly to $X in 2022, surging by 3% against the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +9.9% against 2019 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Odoriferous Substance Mixture Production in Uruguay

In value terms, odoriferous substance mixture production rose markedly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a dramatic setback. The growth pace was the most rapid in 2020 with an increase of 29% against the previous year. Odoriferous substance mixture production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Odoriferous Substance Mixture Exports

Exports from Uruguay

In 2022, the amount of mixtures of odoriferous substances and their preparations exported from Uruguay fell significantly to X tons, declining by -58.5% on 2021 figures. In general, exports showed a significant curtailment. The smallest decline of -20% was in 2019. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, odoriferous substance mixture exports shrank to $X in 2022. Over the period under review, exports faced a sharp decrease. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Paraguay (X tons) was the main destination for odoriferous substance mixture exports from Uruguay, accounting for a 47% share of total exports. Moreover, odoriferous substance mixture exports to Paraguay exceeded the volume sent to the second major destination, Ecuador (X kg), threefold. The third position in this ranking was taken by Argentina (X kg), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Paraguay amounted to -54.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-46.9% per year) and Argentina (-49.4% per year).

In value terms, Ecuador ($X) remains the key foreign market for mixtures of odoriferous substances and their preparations exports from Uruguay, comprising 60% of total exports. The second position in the ranking was held by Argentina ($X), with a 17% share of total exports. It was followed by Paraguay, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled -45.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-48.1% per year) and Paraguay (-56.5% per year).

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, rising by 106% against the previous year. Over the period under review, the export price recorded a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to the Netherlands ($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 Germany (+36.4%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Uruguay

Odoriferous substance mixture imports into Uruguay declined slightly to X tons in 2022, flattening at the previous year's figure. In general, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.3% 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 +3.0% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 23% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, odoriferous substance mixture imports shrank slightly to $X in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.4% against 2018 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 37%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest odoriferous substance mixture supplier to Uruguay, with a 66% share of total imports. Moreover, odoriferous substance mixture imports from Argentina exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), fourfold. Brazil (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+10.0% per year) and Brazil (+3.0% per year).

In value terms, Argentina ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Uruguay, comprising 73% of total imports. The second position in the ranking was held by Free Zones ($X), with a 15% share of total imports. It was followed by Brazil, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from Argentina totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+8.3% per year) and Brazil (+0.7% per year).

Import Prices by Country

The average odoriferous substance mixture import price stood at $X per ton in 2022, dropping by -1.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2020 an increase of 12% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat 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 ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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