Venezuela: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in Venezuela

In 2022, the Venezuelan aromatic hydrocarbon mixtures market decreased by -1% to $X, falling for the third consecutive year after four years of growth. In general, consumption continues to indicate a abrupt descent. Aromatic hydrocarbon mixtures consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Aromatic Hydrocarbon Mixtures Production in Venezuela

In value terms, aromatic hydrocarbon mixtures production amounted to $X in 2022 estimated in export price. Over the period under review, production showed perceptible growth. The most prominent rate of growth was recorded in 2017 with an increase of 89% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Aromatic Hydrocarbon Mixtures Exports

Exports from Venezuela

For the fifth year in a row, Venezuela recorded decline in shipments abroad of naphthalene and other aromatic hydrocarbon mixtures, which decreased by -9.5% to X tons in 2022. In general, exports faced a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of 669%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, aromatic hydrocarbon mixtures exports fell to $X in 2022. Over the period under review, exports continue to indicate a precipitous decline. The most prominent rate of growth was recorded in 2014 when exports increased by 549% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X tons) and the United States (X tons) were the main destinations of aromatic hydrocarbon mixtures exports from Venezuela.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of -13.6%).

In value terms, the largest markets for aromatic hydrocarbon mixtures exported from Venezuela were Colombia ($X) and the United States ($X).

Among the main countries of destination, Colombia, with a CAGR of -17.1%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average aromatic hydrocarbon mixtures export price stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the export price, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2018 an increase of 21%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (-4.0%).

Aromatic Hydrocarbon Mixtures Imports

Imports into Venezuela

In 2022, purchases abroad of naphthalene and other aromatic hydrocarbon mixtures decreased by -14.1% to X tons, falling for the ninth year in a row after two years of growth. Over the period under review, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 19% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, aromatic hydrocarbon mixtures imports declined to $X in 2022. In general, imports showed a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 43% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Oman (X tons) constituted the largest aromatic hydrocarbon mixtures supplier to Venezuela, with a 60% share of total imports. Moreover, aromatic hydrocarbon mixtures imports from Oman exceeded the figures recorded by the second-largest supplier, Colombia (X tons), twofold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Oman amounted to +66.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+27.0% per year) and Germany (+48.4% per year).

In value terms, Oman ($X) constituted the largest supplier of naphthalene and other aromatic hydrocarbon mixtures to Venezuela, comprising 73% of total imports. The second position in the ranking was taken by Germany ($X), with a 10% share of total imports. It was followed by Colombia, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value from Oman totaled +78.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+50.4% per year) and Colombia (+20.5% per year).

Import Prices by Country

The average aromatic hydrocarbon mixtures import price stood at $X per ton in 2022, picking up by 9.4% against the previous year. Over the period under review, the import price recorded a prominent expansion. The pace of growth appeared the most rapid in 2013 an increase of 20%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Brazil ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Curacao (+88.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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