Report Latin America and the Caribbean - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Jan 18, 2023

Latin America and the Caribbean - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends and Insights

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Latin America and the Caribbean: Market for Processed Petroleum Oils and Distillates 2023

Market Size for Processed Petroleum Oils and Distillates in Latin America and the Caribbean

In 2021, the Latin American market for processed petroleum oils and distillates was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a deep setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Processed Petroleum Oils and Distillates in Latin America and the Caribbean

In value terms, processed petroleum oils and distillates production stood at $X in 2021 estimated in export price. Overall, production, however, showed a abrupt slump. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports in Latin America and the Caribbean

Processed petroleum oils and distillates exports skyrocketed to X tons in 2021, jumping by 27% on 2020. The total export volume increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a pronounced decrease. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Mexico (X tons) and Brazil (X tons) were the largest exporters of processed petroleum oils and distillates in Latin America and the Caribbean, together constituting 66% of total exports. Colombia (X tons) held the next position in the ranking, followed by Ecuador (X tons) and Peru (X tons). All these countries together held near 26% share of total exports. The following exporters - Argentina (X tons) and Trinidad and Tobago (X tons) - together made up 5.8% of total exports.

From 2012 to 2021, the biggest increases were in Mexico (with a CAGR of +13.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest processed petroleum oils and distillates supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Ecuador ($X), together accounting for 70% of total exports.

Ecuador, with a CAGR of +8.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, jumping by 23% against the previous year. Overall, the export price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the export price increased by 32% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Trinidad and Tobago ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-3.8%), while the other leaders experienced a decline in the export price figures.

Imports of Processed Petroleum Oils and Distillates

Imports in Latin America and the Caribbean

In 2021, the amount of processed petroleum oils and distillates imported in Latin America and the Caribbean rose markedly to X tons, increasing by 15% on 2020. Total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 23%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, processed petroleum oils and distillates imports surged to $X in 2021. Overall, imports, however, continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Mexico (X tons) was the largest importer of processed petroleum oils and distillates, achieving 40% of total imports. Brazil (X tons) held the second position in the ranking, followed by Panama (X tons), Argentina (X tons) and Chile (X tons). All these countries together took approx. 30% share of total imports. Guatemala (X tons), Peru (X tons), Bahamas (X tons), the Dominican Republic (X tons), Ecuador (X tons), Honduras (X tons), Colombia (X tons) and Costa Rica (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to processed petroleum oils and distillates imports into Mexico stood at +11.3%. At the same time, Guatemala (+11.7%), the Dominican Republic (+10.0%), Peru (+9.6%), Argentina (+9.5%), Honduras (+3.0%), Costa Rica (+2.0%), Chile (+1.2%) and Bahamas (+1.0%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +11.7% from 2012-2021. Brazil, Panama and Ecuador experienced a relatively flat trend pattern. By contrast, Colombia (-6.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico, Guatemala and Argentina increased by +17, +1.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported processed petroleum oils and distillates in Latin America and the Caribbean, comprising 39% of total imports. The second position in the ranking was held by Brazil ($X), with a 10% share of total imports. It was followed by Panama, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-10.4% per year) and Panama (-6.5% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 4.3% against the previous year. Over the period under review, the import price, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 when the import price increased by 18% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Costa Rica ($X per ton) and Peru ($X per ton), while Bahamas ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (-7.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for processed petroleum oils and distillates in LatAmerica and the Caribbean?
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The countries with the highest volumes of consumption in 2021 were Brazil, Mexico and Argentina, together comprising 68% of total consumption. Chile, Colombia, Panama, Peru, Venezuela, Guatemala, Ecuador and Bahamas lagged somewhat behind, together comprising a further 24%.
What are the largest producers of processed petroleum oils and distillates in LatAmerica and the Caribbean?
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The country with the largest volume of processed petroleum oils and distillates production was Brazil, comprising approx. 50% of total volume. Moreover, processed petroleum oils and distillates production in Brazil exceeded the figures recorded by the second-largest producer, Mexico, threefold. Argentina ranked third in terms of total production with an 11% share.
What are the leading suppliers of processed petroleum oils and distillates in LatAmerica and the Caribbean?
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In value terms, the largest processed petroleum oils and distillates supplying countries in Latin America and the Caribbean were Brazil, Mexico and Ecuador, with a combined 70% share of total exports.
What are the leading importers of processed petroleum oils and distillates in LatAmerica and the Caribbean?
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In value terms, Mexico constitutes the largest market for imported processed petroleum oils and distillates in Latin America and the Caribbean, comprising 39% of total imports. The second position in the ranking was held by Brazil, with a 10% share of total imports. It was followed by Panama, with an 8.6% share.
What is the average export price for processed petroleum oils and distillates in LatAmerica and the Caribbean?
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The export price in Latin America and the Caribbean stood at $389 per ton in 2021, increasing by 23% against the previous year.
What is the average import price for processed petroleum oils and distillates in LatAmerica and the Caribbean?
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The import price in Latin America and the Caribbean stood at $386 per ton in 2021, picking up by 4.3% against the previous year.

This report provides an in-depth analysis of the market for processed petroleum oils and distillates in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
Country coverage:
• Anguilla
• Antigua and Barbuda
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• British Virgin Islands
• Cayman Islands
• Costa Rica
• Curacao
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Saint Kitts and Nevis
• Saint Lucia
• Saint Maarten (Dutch part)
• Saint Vincent and the Grenadines
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Latin America and the Caribbean, split by region and country
• Trade (exports and imports) in Latin America and the Caribbean
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Anguilla
• Antigua and Barbuda
• Argentina
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• Brazil
• British Virgin Islands
• Cayman Islands
• Chile
• Colombia
• Costa Rica
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Ecuador
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Mexico
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Peru
• Saint Kitts and Nevis
• Saint Lucia
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay
• Venezuela
• Puerto Rico
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption, By Country, 2018–2022
Table 5:
Production, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Physical Terms, By Country, 2012–2022
Table 7:
Imports, In Value Terms, By Country, 2012–2022
Table 8:
Import Prices, By Country Of Destination, 2012–2022
Table 9:
Exports, In Physical Terms, By Country, 2012–2022
Table 10:
Exports, In Value Terms, By Country, 2012–2022
Table 11:
Export Prices, By Country Of Origin, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Consumption, By Country, 2022
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2012–2022
Figure 17:
Production, In Value Terms, 2012–2022
Figure 18:
Production, By Country, 2022
Figure 19:
Production, In Physical Terms, By Country, 2012–2022
Figure 20:
Imports, In Physical Terms, 2012–2022
Figure 21:
Imports, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, By Country, 2022
Figure 23:
Imports, In Physical Terms, By Country, 2012–2022
Figure 24:
Imports, In Value Terms, By Country, 2012–2022
Figure 25:
Import Prices, By Country, 2012–2022
Figure 26:
Exports, In Physical Terms, 2012–2022
Figure 27:
Exports, In Value Terms, 2012–2022
Figure 28:
Exports, In Physical Terms, By Country, 2022
Figure 29:
Exports, In Physical Terms, By Country, 2012–2022
Figure 30:
Exports, In Value Terms, By Country, 2012–2022
Figure 31:
Export Prices, 2012–2022
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