Latin America and the Caribbean: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in Latin America and the Caribbean

The Latin American o-acetylsalicylic acid market reduced sharply to $X in 2021, declining by -24.2% against the previous year. Over the period under review, consumption continues to indicate a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

O-Acetylsalicylic Acid Production in Latin America and the Caribbean

In value terms, o-acetylsalicylic acid production dropped to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 11% against the previous year. The level of production peaked at $X in 2020, and then shrank modestly in the following year.

O-Acetylsalicylic Acid Exports

Exports in Latin America and the Caribbean

In 2021, the amount of o-acetylsalicylic acid, its salts and esters exported in Latin America and the Caribbean contracted sharply to X tons, shrinking by -46.7% compared with the previous year's figure. Over the period under review, exports, however, recorded a moderate increase. The growth pace was the most rapid in 2013 with an increase of 64%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, o-acetylsalicylic acid exports reduced markedly to $X in 2021. In general, exports saw a dramatic decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 86%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Ecuador (X tons) represented the largest exporter of o-acetylsalicylic acid, its salts and esters, generating 75% of total exports. It was distantly followed by Guatemala (X tons), constituting a 15% share of total exports. Colombia (X tons), Panama (X tons), the Dominican Republic (X tons) and Mexico (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to o-acetylsalicylic acid exports from Ecuador stood at +8.1%. At the same time, the Dominican Republic (+96.1%) and Guatemala (+10.2%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +96.1% from 2012-2021. Panama experienced a relatively flat trend pattern. By contrast, Colombia (-12.5%) and Mexico (-15.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ecuador, Guatemala and the Dominican Republic increased by +29, +7.2 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest o-acetylsalicylic acid supplier in Latin America and the Caribbean, comprising 71% of total exports. The second position in the ranking was held by Guatemala ($X), with a 12% share of total exports. It was followed by Colombia, with a 5.9% share.

In Ecuador, o-acetylsalicylic acid exports increased at an average annual rate of +10.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Guatemala (+7.5% per year) and Colombia (-7.0% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price, however, recorded a dramatic slump. The most prominent rate of growth was recorded in 2019 an increase of 16% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+6.3%), while the other leaders experienced more modest paces of growth.

O-Acetylsalicylic Acid Imports

Imports in Latin America and the Caribbean

In 2021, the amount of o-acetylsalicylic acid, its salts and esters imported in Latin America and the Caribbean reduced sharply to X tons, dropping by -32.8% on the previous year. Overall, imports saw a deep reduction. The most prominent rate of growth was recorded in 2016 when imports increased by 47% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, o-acetylsalicylic acid imports dropped notably to $X in 2021. Over the period under review, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 34% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X tons), Argentina (X tons), Guatemala (X tons) and Mexico (X tons) was the major importer of o-acetylsalicylic acid, its salts and esters in Latin America and the Caribbean, comprising 72% of total import. It was distantly followed by Colombia (X tons) and Chile (X tons), together generating a 16% share of total imports. Cuba (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +12.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Brazil ($X), Argentina ($X) and Mexico ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 61% share of total imports. These countries were followed by Chile, Guatemala, Colombia and Cuba, which together accounted for a further 29%.

Chile, with a CAGR of +21.9%, saw the highest rates of growth with regard to 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

The import price in Latin America and the Caribbean stood at $X per ton in 2021, surging by 9.2% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 13% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+8.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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