Ecuador: Solid Biofuel Market 2023

Solid Biofuel Market Size in Ecuador

The Ecuadorian solid biofuel market rose modestly to $X in 2022, growing by 1.8% against the previous year. In general, consumption, however, enjoyed resilient growth. Solid biofuel consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Solid Biofuel Production in Ecuador

In value terms, solid biofuel production rose modestly to $X in 2022 estimated in export price. Over the period under review, production saw a buoyant expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 28%. Solid biofuel production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Solid Biofuel Exports

Exports from Ecuador

Solid biofuel exports from Ecuador expanded slightly to X tons in 2022, picking up by 4.3% compared with the previous year's figure. In general, exports, however, saw a dramatic slump. The most prominent rate of growth was recorded in 2019 when exports increased by 404% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, solid biofuel exports surged to $X in 2022. Over the period under review, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 823% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for solid biofuel exports from Ecuador, accounting for a 33% share of total exports. Moreover, solid biofuel exports to Mexico exceeded the volume sent to the second major destination, Spain (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico totaled -23.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-4.3% per year) and Chile (-34.3% per year).

In value terms, Mexico ($X) remains the key foreign market for solid biofuels exports from Ecuador, comprising 42% of total exports. The second position in the ranking was taken by Spain ($X), with a 7.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Mexico totaled -11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-24.4% per year) and Chile (-39.7% per year).

Export Prices by Country

In 2022, the average solid biofuel export price amounted to $X per ton, picking up by 28% against the previous year. Over the period under review, the export price posted a moderate expansion. The pace of growth was the most pronounced in 2014 an increase of 199%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Spain ($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 Israel (+96.2%), while the prices for the other major destinations experienced mixed trend patterns.

Solid Biofuel Imports

Imports into Ecuador

In 2022, the amount of solid biofuels imported into Ecuador fell rapidly to X tons, declining by -28.5% compared with the previous year. Over the period under review, imports recorded a abrupt setback. The growth pace was the most rapid in 2014 when imports increased by 66%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, solid biofuel imports dropped markedly to $X in 2022. Overall, imports faced a abrupt shrinkage. The growth pace was the most rapid in 2020 when imports increased by 105% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Colombia (X tons), Peru (X tons) and Panama (X kg) were the main suppliers of solid biofuel imports to Ecuador, together accounting for 41% of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +49.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) constituted the largest supplier of solid biofuels to Ecuador, comprising 24% of total imports. The second position in the ranking was held by Colombia ($X), with a 9.4% share of total imports. It was followed by China, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Peru totaled -14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+3.2% per year) and China (-19.2% per year).

Import Prices by Country

In 2022, the average solid biofuel import price amounted to $X per ton, waning by -5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 68%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+23.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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