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 totaled $X in 2023, with an increase of X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, 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 expanded modestly to $X in 2023 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports in Latin America and the Caribbean

Urea and thiourea resins exports reduced rapidly to X tons in 2023, shrinking by X% against 2022. Over the period under review, exports saw a pronounced curtailment. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, urea and thiourea resins exports contracted significantly to $X in 2023. Overall, exports saw a pronounced downturn. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

Brazil was the key exporter of urea resins and thiourea resins in primary forms in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2023. Peru (X tons) took the second position in the ranking, followed by Trinidad and Tobago (X tons) and Colombia (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to urea and thiourea resins exports from Brazil stood at X%. At the same time, Peru (X%) and Trinidad and Tobago (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Colombia (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.), Peru (X p.p.) and Trinidad and Tobago (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest urea and thiourea resins supplying countries in Latin America and the Caribbean were Brazil ($X), Trinidad and Tobago ($X) and Peru ($X), together comprising X% of total exports.

Peru, with a CAGR of X%, saw the highest growth rate of 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

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by X% against the previous year. In general, the export price showed a slight curtailment. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports in Latin America and the Caribbean

In 2023, imports of urea resins and thiourea resins in primary forms in Latin America and the Caribbean dropped markedly to X tons, declining by X% compared with the year before. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, urea and thiourea resins imports shrank dramatically to $X in 2023. Total imports indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then declined remarkably in the following year.

Imports by Country

In 2023, Ecuador (X tons), Paraguay (X tons) and Guatemala (X tons) represented the key importer of urea resins and thiourea resins in primary forms in Latin America and the Caribbean, comprising X% of total import. Argentina (X tons) took the next position in the ranking, followed by Mexico (X tons), Colombia (X tons) and Brazil (X tons). All these countries together held approx. X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Argentina (with a CAGR of X%), while imports 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 Brazil ($X), Guatemala ($X) and Ecuador ($X), with a combined X% share of total imports.

Among the main importing countries, Ecuador, with a CAGR of X%, recorded the highest growth rate of the value of imports, 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 2023, growing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the near future.

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

From 2012 to 2023, 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.

Source: IndexBox Platform