Latin America and the Caribbean: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Latin America and the Caribbean

The Latin American urea and thiourea resins market dropped modestly to $X in 2022, approximately reflecting the previous year. Overall, consumption showed a slight downturn. 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.

Production of Urea Resins And Thiourea Resins In Primary Forms in Latin America and the Caribbean

In value terms, urea and thiourea resins production fell slightly to $X in 2022 estimated in export price. In general, production, however, recorded a slight curtailment. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports in Latin America and the Caribbean

In 2022, urea and thiourea resins exports in Latin America and the Caribbean surged to X tons, with an increase of X% against the year before. Overall, exports posted a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, urea and thiourea resins exports surged to $X in 2022. In general, exports enjoyed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Trinidad and Tobago represented the key exporting country with an export of about X tons, which finished at X% of total exports. Brazil (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Peru (X%). The following exporters - Colombia (X tons) and Mexico (X tons) - together made up X% of total exports.

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

In value terms, Trinidad and Tobago ($X) emerged as the largest urea and thiourea resins supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Peru, with a X% share.

In Trinidad and Tobago, urea and thiourea resins exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Peru (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

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 Mexico ($X per ton), while Brazil ($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 (X%), while the other leaders experienced more modest paces of growth.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports in Latin America and the Caribbean

Urea and thiourea resins imports fell to X tons in 2022, reducing by X% on the previous year. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, urea and thiourea resins imports rose rapidly to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Argentina (X tons), distantly followed by Ecuador (X tons), Guatemala (X tons), Paraguay (X tons), Bolivia (X tons) and Mexico (X tons) were the main importers of urea resins and thiourea resins in primary forms, together constituting X% of total imports. Brazil (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest urea and thiourea resins importing markets in Latin America and the Caribbean were Argentina ($X), Guatemala ($X) and Ecuador ($X), with a combined X% share of total imports.

Argentina, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform