Latin America and the Caribbean: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Latin America and the Caribbean

The Latin American octyl alcohol market contracted modestly to $X in 2022, which is down by -2.4% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then declined modestly in the following year.

Octyl Alcohol Production in Latin America and the Caribbean

In value terms, octyl alcohol production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 20% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Octyl Alcohol Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of octanol (octyl alcohol) and isomers thereof increased by 122% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 645%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, octyl alcohol exports surged to $X in 2022. In general, exports, however, faced a abrupt curtailment. The pace of growth was the most pronounced in 2018 with an increase of 672% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Brazil prevails in exports structure, reaching X tons, which was approx. 90% of total exports in 2022. It was distantly followed by Chile (X tons), creating an 8.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to octyl alcohol exports from Brazil stood at -20.3%. At the same time, Chile (+66.7%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +66.7% from 2012-2022. Chile (+8.9 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -9.7% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest octyl alcohol supplier in Latin America and the Caribbean, comprising 88% of total exports. The second position in the ranking was held by Chile ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at -17.7%.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, declining by -10.4% against the previous year. Overall, the export price, however, posted measured growth. The most prominent rate of growth was recorded in 2021 when the export price increased by 236% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.3%).

Octyl Alcohol Imports

Imports in Latin America and the Caribbean

In 2022, the amount of octanol (octyl alcohol) and isomers thereof imported in Latin America and the Caribbean contracted modestly to X tons, waning by -3.4% against the previous year's figure. Total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +2.0% 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 +38.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 43%. As a result, imports attained the peak of X tons, and then fell slightly in the following year.

In value terms, octyl alcohol imports fell modestly to $X in 2022. In general, imports, however, continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 134% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Mexico (X tons) and Brazil (X tons) represented the major importers of octanol (octyl alcohol) and isomers thereof in Latin America and the Caribbean, together reaching near 66% of total imports. Colombia (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (10%) and Chile (9.7%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Brazil (with a CAGR of +80.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 79% of total imports.

Brazil, with a CAGR of +71.1%, saw the highest growth rate of the value of imports, in terms of 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 3.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 64% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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