Venezuela: Market for Industrial Monocarboxylic Fatty Acids 2025

Market Size for Industrial Monocarboxylic Fatty Acids in Venezuela

In 2021, the Venezuelan industrial monocarboxylic fatty acids market decreased by -6.2% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption recorded a noticeable setback. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Industrial Monocarboxylic Fatty Acids in Venezuela

In value terms, industrial monocarboxylic fatty acids production dropped to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when the production volume increased by 17% against the previous year. Industrial monocarboxylic fatty acids production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Venezuela

In 2021, shipments abroad of industrial monocarboxylic fatty acids increased by 37% to X tons, rising for the fourth year in a row after two years of decline. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2015 when exports increased by 844%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, industrial monocarboxylic fatty acids exports surged to $X in 2021. Over the period under review, exports, however, showed a deep slump. The pace of growth was the most pronounced in 2015 when exports increased by 440%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for industrial monocarboxylic fatty acids exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Colombia amounted to +22.8%.

In value terms, Colombia ($X) also remains the key foreign market for industrial monocarboxylic fatty acids exports from Venezuela.

From 2012 to 2021, the average annual growth rate of value to Colombia totaled -12.6%.

Export Prices by Country

In 2021, the average industrial monocarboxylic fatty acids export price amounted to $X per ton, falling by -12.5% against the previous year. Over the period under review, the export price recorded a sharp reduction. The growth pace was the most rapid in 2019 when the average export price decreased by -6.9% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2012 to 2021, the rate of growth in terms of prices for Colombia amounted to -28.8% per year.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Venezuela

In 2021, after three years of decline, there was significant growth in supplies from abroad of industrial monocarboxylic fatty acids, when their volume increased by 186% to X tons. Overall, imports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 256% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, industrial monocarboxylic fatty acids imports surged to $X in 2021. Over the period under review, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 260% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest industrial monocarboxylic fatty acids supplier to Venezuela, accounting for a 55% share of total imports. Moreover, industrial monocarboxylic fatty acids imports from India exceeded the figures recorded by the second-largest supplier, Colombia (X tons), threefold. The third position in this ranking was taken by Canada (X tons), with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-4.3% per year) and Canada (+15.6% per year).

In value terms, India ($X) constituted the largest supplier of industrial monocarboxylic fatty acids to Venezuela, comprising 48% of total imports. The second position in the ranking was taken by Colombia ($X), with a 20% share of total imports. It was followed by Mexico, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India amounted to -8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+15.3% per year) and Mexico (-1.3% per year).

Import Prices by Country

The average industrial monocarboxylic fatty acids import price stood at $X per ton in 2021, growing by 17% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 38% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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