MERCOSUR: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in MERCOSUR

In 2022, the MERCOSUR market for processed petroleum oils and distillates increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, saw a mild decline. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Processed Petroleum Oils and Distillates in MERCOSUR

In value terms, processed petroleum oils and distillates production fell to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports in MERCOSUR

In 2022, approx. X tons of processed petroleum oils and distillates were exported in MERCOSUR; growing by X% against 2021 figures. Total exports indicated a temperate increase from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, processed petroleum oils and distillates exports soared to $X in 2022. In general, exports saw a tangible expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

Brazil was the main exporting country with an export of about X tons, which accounted for X% of total exports. Colombia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Ecuador (X%) and Peru (X%). Argentina (X tons) took a relatively small share of total exports.

Exports from Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Ecuador (X%) and Peru (X%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2022. By contrast, Colombia (X%) and Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil and Ecuador increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest processed petroleum oils and distillates supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was taken by Peru ($X), with an X% share of total exports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil amounted to X%. In the other countries, the average annual rates were as follows: Peru (X% per year) and Colombia (X% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, rising by X% against the previous year. Overall, the export price, however, saw a slight descent. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Peru ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced a decline in the export price figures.

Imports of Processed Petroleum Oils and Distillates

Imports in MERCOSUR

Processed petroleum oils and distillates imports surged to X tons in 2022, with an increase of X% on 2021 figures. Overall, imports posted a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports soared to $X in 2022. Over the period under review, imports posted measured growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

In 2022, Brazil (X tons) was the main importer of processed petroleum oils and distillates, achieving X% of total imports. It was distantly followed by Chile (X tons), Peru (X tons), Colombia (X tons), Argentina (X tons) and Ecuador (X tons), together creating a X% share of total imports. Venezuela (X tons) held a little share of total imports.

Brazil was also the fastest-growing in terms of the processed petroleum oils and distillates imports, with a CAGR of X% from 2012 to 2022. At the same time, Peru (X%), Ecuador (X%), Chile (X%), Argentina (X%), Colombia (X%) and Venezuela (X%) displayed positive paces of growth. Brazil (X p.p.) significantly strengthened its position in terms of the total imports, while Ecuador, Argentina, Colombia and Chile saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported processed petroleum oils and distillates in MERCOSUR, comprising X% of total imports. The second position in the ranking was taken by Chile ($X), with an X% share of total imports. It was followed by Argentina, with an X% share.

In Brazil, processed petroleum oils and distillates imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Chile (X% per year) and Argentina (X% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, recorded a abrupt contraction. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Venezuela ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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