Venezuela: Polycarboxylic Acid Market 2023

Polycarboxylic Acid Market Size in Venezuela

In 2021, the Venezuelan polycarboxylic acid market increased by 28% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded a precipitous decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Polycarboxylic Acid Exports

Exports from Venezuela

Polycarboxylic acid exports from Venezuela expanded modestly to X tons in 2021, with an increase of 1.6% compared with the previous year's figure. Over the period under review, exports, however, saw a abrupt downturn. The growth pace was the most rapid in 2017 when exports increased by 220% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, polycarboxylic acid exports contracted slightly to $X in 2021. Overall, exports, however, recorded a sharp contraction. The pace of growth was the most pronounced in 2017 with an increase of 297% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tons) was the main destination for polycarboxylic acid exports from Venezuela, with a 88% share of total exports. Moreover, polycarboxylic acid exports to Colombia exceeded the volume sent to the second major destination, Costa Rica (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Colombia stood at -10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-17.7% per year) and the Dominican Republic (-20.5% per year).

In value terms, Colombia ($X) remains the key foreign market for polycarboxylic acids exports from Venezuela, comprising 79% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia totaled -17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-17.9% per year) and the Dominican Republic (-20.8% per year).

Export Prices by Country

In 2021, the average polycarboxylic acid export price amounted to $X per ton, with a decrease of -3.9% against the previous year. Over the period under review, the export price continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2013 when the average export price increased by 27%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (-0.2%), while the prices for the other major destinations experienced a decline.

Polycarboxylic Acid Imports

Imports into Venezuela

In 2021, imports of polycarboxylic acids into Venezuela declined to X tons, therefore, remained relatively stable against the previous year. In general, imports recorded a precipitous setback. The pace of growth was the most pronounced in 2017 when imports increased by 55%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, polycarboxylic acid imports surged to $X in 2021. Overall, imports showed a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 51% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Brazil (X tons) and Chile (X tons) were the main suppliers of polycarboxylic acid imports to Venezuela, together comprising 46% of total imports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +10.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), China ($X) and Chile ($X) were the largest polycarboxylic acid suppliers to Venezuela, together accounting for 30% of total imports.

Mexico, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average polycarboxylic acid import price amounted to $X per ton, growing by 45% against the previous year. Over the period under review, the import price, however, saw a slight downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Colombia ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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