Latin America and the Caribbean: Biodiesel Market 2024

Biodiesel Market Size in Latin America and the Caribbean

The Latin American biodiesel market surged to $X in 2023, with an increase of X% against the previous year. Over the period under review, consumption posted prominent growth. The level of consumption peaked in 2023 and is likely to see steady growth in the near future.

Biodiesel Production in Latin America and the Caribbean

In value terms, biodiesel production rose rapidly to $X in 2023 estimated in export price. In general, production saw a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

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Biodiesel Exports

Exports in Latin America and the Caribbean

After two years of growth, shipments abroad of biodiesel decreased by X% to X tons in 2023. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, biodiesel exports reduced sharply to $X in 2023. In general, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then reduced dramatically in the following year.

Exports by Country

Argentina represented the largest exporter of biodiesel in Latin America and the Caribbean, with the volume of exports recording X tons, which was near X% of total exports in 2023. It was distantly followed by Brazil (X tons), creating a X% share of total exports. Uruguay (X tons) and Paraguay (X tons) took a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to biodiesel exports from Argentina stood at X%. At the same time, Paraguay (X.8%), Uruguay (X%) and Brazil (X%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X.8% from 2012-2023. Brazil (X p.p.), Uruguay (X p.p.) and Paraguay (X p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Argentina ($X) remains the largest biodiesel supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Uruguay, with a X% share.

In Argentina, biodiesel exports contracted by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Uruguay (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, waning by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then declined remarkably in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Uruguay ($X per ton) and Brazil ($X per ton), while Argentina ($X per ton) and Paraguay ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced mixed trends in the export price figures.

Biodiesel Imports

Imports in Latin America and the Caribbean

In 2023, after two years of growth, there was decline in overseas purchases of biodiesel, when their volume decreased by X% to X tons. In general, imports showed a noticeable reduction. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, biodiesel imports shrank to $X in 2023. Over the period under review, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Peru prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2023. Belize (X tons) held a minor share of total imports.

Imports into Peru decreased at an average annual rate of X% from 2012 to 2023. At the same time, Belize (X%) displayed positive paces of growth. Moreover, Belize emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Belize increased by X percentage points.

In value terms, Peru ($X) constitutes the largest market for imported biodiesel in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Belize ($X), with a X% share of total imports.

In Peru, biodiesel imports decreased by an average annual rate of X% over the period from 2012-2023.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price recorded a slight contraction. The pace of growth appeared the most rapid in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Peru ($X per ton), while Belize stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Peru (X%).

Source: IndexBox Platform