Latin America and the Caribbean: Insecticide Market 2024

Insecticide Market Size in Latin America and the Caribbean

In 2022, the Latin American insecticide market increased by X% to $X, rising for the sixth year in a row after two years of decline. Over the period under review, consumption showed a buoyant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Insecticide Production in Latin America and the Caribbean

In value terms, insecticide production expanded slightly to $X in 2022 estimated in export price. The total production indicated a slight increase 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Insecticide Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of insecticides decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports recorded a slight descent. The most prominent rate of growth was recorded in 2015 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, insecticide exports surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina prevails in exports structure, recording X tons, which was near X% of total exports in 2022. Brazil (X tons) took the second position in the ranking, followed by Colombia (X tons), Mexico (X tons) and Guatemala (X tons). All these countries together took near X% share of total exports. The following exporters - Paraguay (X tons) and Costa Rica (X tons) - each recorded a X% share of total exports.

Argentina experienced a relatively flat trend pattern with regard to volume of exports of insecticides. 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 2012-2022. By contrast, Costa Rica (X%), Brazil (X%) and Mexico (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Argentina, Colombia, Guatemala and Paraguay increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest insecticide supplying countries in Latin America and the Caribbean were Mexico ($X), Argentina ($X) and Colombia ($X), with a combined X% share of total exports. Brazil, Guatemala, Paraguay and Costa Rica lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Paraguay, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Argentina ($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.

Insecticide Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of insecticides decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced in the following year.

In value terms, insecticide imports soared to $X in 2022. Total imports indicated a resilient increase 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 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

Brazil prevails in imports structure, amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Colombia (X tons), committing a X% share of total imports. Peru (X tons), Bolivia (X tons), Mexico (X tons), Chile (X tons), Argentina (X tons), Paraguay (X tons), Ecuador (X tons), Costa Rica (X tons), El Salvador (X tons), Guatemala (X tons) and the Dominican Republic (X tons) took a minor share of total imports.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Colombia (X%), the Dominican Republic (X%), El Salvador (X%), Peru (X%), Bolivia (X%), Chile (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Paraguay, Ecuador, Costa Rica and Argentina experienced a relatively flat trend pattern. By contrast, Mexico (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) and Colombia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Argentina (X p.p.) and Mexico (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Brazil, insecticide imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Argentina (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, 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 Mexico ($X per ton), while El Salvador ($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.

Source: IndexBox Platform

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