Uruguay: Monophenols Market 2024

Monophenols Market Size in Uruguay

The Uruguayan monophenols market fell rapidly to $X in 2021, declining by -53.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption faced a dramatic setback. The pace of growth appeared the most rapid in 2013 with a decrease of -0.4%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Monophenols Exports

Exports from Uruguay

In 2021, overseas shipments of monophenols increased by 4.3% to X tons, rising for the second year in a row after six years of decline. Over the period under review, exports enjoyed a noticeable expansion. The pace of growth was the most pronounced in 2020 with an increase of 537% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, monophenols exports soared to $X in 2021. In general, exports posted prominent growth. The pace of growth appeared the most rapid in 2020 when exports increased by 643% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Free Zones (X tons) was the main destination for monophenols exports from Uruguay, with a 66% share of total exports. Moreover, monophenols exports to Free Zones exceeded the volume sent to the second major destination, Paraguay (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Free Zones was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+175.2% per year) and Chile (0.0% per year).

In value terms, Paraguay ($X) remains the key foreign market for monophenols exports from Uruguay, comprising 75% of total exports. The second position in the ranking was taken by Free Zones ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Paraguay totaled +54.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (-10.4% per year) and Chile (0.0% per year).

Export Prices by Country

In 2021, the average monophenols export price amounted to $X per ton, picking up by 41% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, monophenols export price increased by +64.5% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Paraguay ($X per ton), while the average price for exports to Free Zones ($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 Free Zones (-10.3%).

Monophenols Imports

Imports into Uruguay

In 2021, overseas purchases of monophenols decreased by -42.3% to X tons, falling for the eighth year in a row after two years of growth. Overall, imports faced a sharp decline. The pace of growth was the most pronounced in 2013 when imports increased by 3.7% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, monophenols imports fell rapidly to $X in 2021. In general, imports recorded a precipitous decline. The growth pace was the most rapid in 2020 with an increase of 11% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest monophenols supplier to Uruguay, accounting for a 61% share of total imports. Moreover, monophenols imports from Russia exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sevenfold. The third position in this ranking was taken by Spain (X tons), with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from Russia stood at -32.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-17.2% per year) and Spain (-6.7% per year).

In value terms, the largest monophenols suppliers to Uruguay were Russia ($X), the Netherlands ($X) and Brazil ($X), together accounting for 52% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +125.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average monophenols import price stood at $X per ton in 2021, waning by -12.3% against the previous year. Over the period under review, the import price, however, posted a measured increase. The growth pace was the most rapid in 2018 an increase of 66%. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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