Latin America and the Caribbean: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Latin America and the Caribbean

In 2022, the Latin American industrial stearic acid market increased by X% to $X, rising for the second consecutive year after eight years of decline. Overall, consumption saw a deep contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Industrial Stearic Acid Production in Latin America and the Caribbean

In value terms, industrial stearic acid production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Industrial Stearic Acid Exports

Exports in Latin America and the Caribbean

In 2022, industrial stearic acid exports in Latin America and the Caribbean contracted markedly to X tons, waning by X% compared with the previous year's figure. Overall, exports showed a noticeable contraction. The pace of growth was the most pronounced in 2017 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, industrial stearic acid exports dropped remarkably to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then plummeted in the following year.

Exports by Country

Brazil represented the major exporter of industrial stearic acid in Latin America and the Caribbean, with the volume of exports reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Honduras (X tons), generating a X% share of total exports. Nicaragua (X tons) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the industrial stearic acid exports, with a CAGR of X% from 2012 to 2022. At the same time, Honduras (X%) and Nicaragua (X%) displayed positive paces of growth. Brazil (X p.p.), Honduras (X p.p.) and Nicaragua (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest industrial stearic acid supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Honduras ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Brazil amounted to X%. In the other countries, the average annual rates were as follows: Honduras (X% per year) and Nicaragua (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price saw noticeable growth. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (X%), while the other leaders experienced mixed trends in the export price figures.

Industrial Stearic Acid Imports

Imports in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in supplies from abroad of industrial stearic acid, when their volume decreased by X% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, industrial stearic acid imports rose notably to $X in 2022. In general, imports, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Mexico represented the major importer of industrial stearic acid in Latin America and the Caribbean, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Brazil (X tons) held the second position in the ranking, distantly followed by Colombia (X tons) and Argentina (X tons). All these countries together took near X% share of total imports. Peru (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Argentina (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Colombia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Argentina and Peru lagged somewhat behind, together comprising a further X%.

Argentina, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price continues to indicate noticeable growth. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Argentina ($X per ton) and Brazil ($X per ton), while Colombia ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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