Venezuela: Market for Caustic Soda in the Solid Form 2024

Market Size for Caustic Soda in the Solid Form in Venezuela

The Venezuelan market for caustic soda in the solid form contracted markedly to $X in 2021, which is down by -28.7% 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 recorded a deep setback. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Exports of Caustic Soda in the Solid Form

Exports from Venezuela

In 2021, shipments abroad of caustic soda in the solid form increased by 7.8% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 140% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of caustic soda in the solid form reduced to $X in 2021. Overall, exports saw significant growth. The growth pace was the most rapid in 2014 with an increase of 102% against the previous year. Over the period under review, the exports of caustic soda in solid form reached the maximum at $X in 2020, and then shrank in the following year.

Exports by Country

Trinidad and Tobago (X tons) was the main destination for exports of caustic soda in the solid form from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Trinidad and Tobago stood at +35.1%.

In value terms, Trinidad and Tobago ($X) also remains the key foreign market for caustic soda in the solid form exports from Venezuela.

From 2012 to 2021, the average annual rate of growth in terms of value to Trinidad and Tobago totaled +42.4%.

Export Prices by Country

The average export price for caustic soda in the solid form stood at $X per ton in 2021, which is down by -11.2% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for caustic soda in the solid form increased by +79.3% against 2017 indices. The growth pace was the most rapid in 2013 an increase of 27%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then fell in the following year.

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

From 2012 to 2021, the rate of growth in terms of prices for Trinidad and Tobago amounted to +5.4% per year.

Imports of Caustic Soda in the Solid Form

Imports into Venezuela

In 2021, the amount of caustic soda in the solid form imported into Venezuela reduced markedly to X tons, falling by -33.3% on the previous year's figure. Over the period under review, imports recorded a noticeable slump. The pace of growth appeared the most rapid in 2018 when imports increased by 478% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of caustic soda in the solid form declined rapidly to $X in 2021. In general, imports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 438% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest caustic soda in the solid form supplier to Venezuela, with a 51% share of total imports. Moreover, imports of caustic soda in the solid form from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Poland (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+33.3% per year) and Poland (-15.5% per year).

In value terms, China ($X), Germany ($X) and Panama ($X) constituted the largest caustic soda in the solid form suppliers to Venezuela, together comprising 53% of total imports. These countries were followed by India, Poland, Kuwait, Peru and the United States, which together accounted for a further 29%.

Kuwait, with a CAGR of +580.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for caustic soda in the solid form amounted to $X per ton, increasing by 12% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt decline. The growth pace was the most rapid in 2017 an increase of 35%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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