Latin America and the Caribbean: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Latin America and the Caribbean

In 2022, the Latin American propyl and isopropyl alcohol market increased by 0.1% to $X, rising for the third year in a row after two years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Latin America and the Caribbean

In value terms, propyl and isopropyl alcohol production expanded significantly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2020 when the production volume increased by 36%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports in Latin America and the Caribbean

In 2022, shipments abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -27.9% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a deep reduction. The pace of growth appeared the most rapid in 2020 when exports increased by 86%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, propyl and isopropyl alcohol exports shrank dramatically to $X in 2022. Overall, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2020 with an increase of 121%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) and Guatemala (X tons) prevails in exports structure, together constituting 82% of total exports. It was distantly followed by Mexico (X tons) and Colombia (X tons), together creating a 10% share of total exports. Chile (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +45.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Guatemala ($X) and Mexico ($X) constituted the countries with the highest levels of exports in 2022, with a combined 86% share of total exports.

Brazil, with a CAGR of +37.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, growing by 14% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propyl and isopropyl alcohol export price increased by +55.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 65%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports in Latin America and the Caribbean

After two years of growth, overseas purchases of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -4.2% to X tons in 2022. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 21%. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, propyl and isopropyl alcohol imports reduced slightly to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.0% against 2019 indices. The pace of growth was the most pronounced in 2017 when imports increased by 42% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

Mexico represented the main importing country with an import of about X tons, which reached 38% of total imports. It was distantly followed by Brazil (X tons), Colombia (X tons), Argentina (X tons) and Peru (X tons), together making up a 41% share of total imports. The following importers - Guatemala (X tons), Ecuador (X tons), Chile (X tons), the Dominican Republic (X tons), Venezuela (X tons) and Costa Rica (X tons) - together made up 14% of total imports.

Imports into Mexico increased at an average annual rate of +1.4% from 2012 to 2022. At the same time, Ecuador (+10.4%), Guatemala (+10.0%), Argentina (+8.0%), Brazil (+5.9%), Costa Rica (+3.8%), Peru (+3.8%), the Dominican Republic (+2.0%) and Colombia (+1.9%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.4% from 2012-2022. By contrast, Chile (-2.0%) and Venezuela (-6.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Argentina and Guatemala increased by +4.2, +2.7 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in Latin America and the Caribbean, comprising 38% of total imports. The second position in the ranking was taken by Brazil ($X), with a 17% share of total imports. It was followed by Colombia, with an 8% share.

In Mexico, propyl and isopropyl alcohol imports increased at an average annual rate of +3.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+7.0% per year) and Colombia (+2.4% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, flattening at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2017 an increase of 18% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then contracted slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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