Argentina: Abrasives Market 2024

Abrasives Market Size in Argentina

In 2021, the Argentinian abrasives market increased by 13% to $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -12.4% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Abrasives Production in Argentina

In value terms, abrasives production skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -12.0% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 48% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Abrasives Exports

Exports from Argentina

In 2021, shipments abroad of abrasives (natural) was finally on the rise to reach X tons after two years of decline. In general, total exports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 59% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, abrasives exports surged to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Chile (X tons) was the main destination for abrasives exports from Argentina, with a 79% share of total exports. Moreover, abrasives exports to Chile exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), eightfold. The third position in this ranking was taken by Paraguay (X tons), with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile amounted to +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+56.8% per year) and Paraguay (-10.8% per year).

In value terms, Chile ($X) remains the key foreign market for abrasives (natural) exports from Argentina, comprising 64% of total exports. The second position in the ranking was held by Uruguay ($X), with a 14% share of total exports. It was followed by Paraguay, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value to Chile totaled +15.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (+3.4% per year) and Paraguay (-9.5% per year).

Export Prices by Country

The average abrasives export price stood at $X per ton in 2021, picking up by 21% against the previous year. In general, the export price, however, saw a slight curtailment. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Uruguay ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Abrasives Imports

Imports into Argentina

In 2021, approx. X tons of abrasives (natural) were imported into Argentina; almost unchanged from the previous year. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 33%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, abrasives imports reached $X in 2021. Over the period under review, total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.0% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 36%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and South Africa (X tons) were the main suppliers of abrasives imports to Argentina, together comprising 73% of total imports. These countries were followed by Kuwait, the United States, the United Arab Emirates and Hong Kong SAR, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +103.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of abrasives (natural) to Argentina, comprising 37% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 14% share of total imports. It was followed by India, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+72.4% per year) and India (-13.1% per year).

Import Prices by Country

The average abrasives import price stood at $X per ton in 2021, surging by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2017 an increase of 27% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+0.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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