Latin America and the Caribbean: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Latin America and the Caribbean

In 2023, the Latin American plant-growth regulators market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption, however, saw a temperate increase. As a result, consumption reached the peak level of $X, and then reduced remarkably in the following year.

Plant-Growth Regulators Production in Latin America and the Caribbean

In value terms, plant-growth regulators production fell to $X in 2023 estimated in export price. Over the period under review, production, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Plant-Growth Regulators Exports

Exports in Latin America and the Caribbean

In 2023, exports of plant-growth regulators in Latin America and the Caribbean skyrocketed to X tons, with an increase of X% on 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports remained at a lower figure.

In value terms, plant-growth regulators exports expanded to $X in 2023. Total exports indicated mild growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Argentina was the largest exporter of plant-growth regulators in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. Colombia (X tons) held the second position in the ranking, followed by Guatemala (X tons), Brazil (X tons), Paraguay (X tons) and Costa Rica (X tons). All these countries together took approx. X% share of total exports. Mexico (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to plant-growth regulators exports from Argentina stood at X%. At the same time, Paraguay (X%), Colombia (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Costa Rica experienced a relatively flat trend pattern. By contrast, Brazil (X%) and Mexico (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Colombia, Paraguay and Guatemala increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X), Brazil ($X) and Colombia ($X) were the countries with the highest levels of exports in 2023, together comprising X% of total exports. Guatemala, Paraguay, Mexico and Costa Rica lagged somewhat behind, together accounting for a further X%.

Paraguay, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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 2023, shrinking by X% against the previous year. Export price indicated a tangible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, plant-growth regulators export price increased by X% against 2016 indices. The growth pace was the most rapid in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports in Latin America and the Caribbean

In 2023, after seven years of growth, there was significant decline in overseas purchases of plant-growth regulators, when their volume decreased by X% to X tons. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, plant-growth regulators imports declined remarkably to $X in 2023. In general, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then declined dramatically in the following year.

Imports by Country

Brazil dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2023. Argentina (X tons) ranks second in terms of the total imports with a X% share, followed by Colombia (X%), Uruguay (X%), Bolivia (X%) and Paraguay (X%). Mexico (X tons), Chile (X tons), Peru (X tons), Ecuador (X tons), Nicaragua (X tons), Honduras (X tons) and Guatemala (X tons) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the plant-growth regulators imports, with a CAGR of X% from 2012 to 2023. At the same time, Colombia (X%), Paraguay (X%), Peru (X%), Nicaragua (X%), Ecuador (X%), Bolivia (X%), Uruguay (X%), Chile (X%), Guatemala (X%), Honduras (X%) and Mexico (X%) displayed positive paces of growth. By contrast, Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Brazil increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported plant-growth regulators in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Argentina ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

In Brazil, plant-growth regulators imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Colombia (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then fell sharply in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bolivia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform