Argentina: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Argentina

In 2021, the Argentinian iron oxide pigment market decreased by -11.7% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, posted a buoyant expansion. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Iron Oxide Pigment Production in Argentina

In value terms, iron oxide pigment production fell notably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate buoyant growth. The growth pace was the most rapid in 2020 with an increase of 55%. As a result, production reached the peak level of $X, and then shrank significantly in the following year.

Iron Oxide Pigment Exports

Exports from Argentina

In 2021, iron oxide pigment exports from Argentina surged to X tons, increasing by 41% on 2020. Overall, exports, however, showed a dramatic setback. The pace of growth appeared the most rapid in 2017 with an increase of 71% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, iron oxide pigment exports skyrocketed to $X in 2021. In general, exports, however, showed a significant decline. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for iron oxide pigment exports from Argentina, with a 76% share of total exports. Moreover, iron oxide pigment exports to China exceeded the volume sent to the second major destination, Paraguay (X tons), eightfold. Chile (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -41.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-14.7% per year) and Chile (-27.5% per year).

In value terms, Brazil ($X), Paraguay ($X) and Chile ($X) were the largest markets for iron oxide pigment exported from Argentina worldwide, together comprising 81% of total exports.

Among the main countries of destination, Paraguay, with a CAGR of -8.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average iron oxide pigment export price amounted to $X per ton, surging by 102% against the previous year. Over the period under review, the export price recorded significant growth. The pace of growth was the most pronounced in 2016 an increase of 319%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to China ($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 Brazil (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Oxide Pigment Imports

Imports into Argentina

In 2021, the amount of iron oxide pigments imported into Argentina soared to X tons, increasing by 96% on the previous year's figure. Over the period under review, imports saw a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 119%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, iron oxide pigment imports skyrocketed to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +26.2% against 2017 indices. The growth pace was the most rapid in 2017 when imports increased by 81%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Brazil (X tons) and Germany (X tons) were the main suppliers of iron oxide pigment imports to Argentina, together comprising 78% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +16.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron oxide pigment suppliers to Argentina were China ($X), Germany ($X) and Brazil ($X), with a combined 75% share of total imports. Colombia, the United States and South Africa lagged somewhat behind, together accounting for a further 15%.

The United States, with a CAGR of +15.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron oxide pigment import price stood at $X per ton in 2021, which is down by -10.8% against the previous year. In general, the import price saw a perceptible curtailment. The pace of growth was the most pronounced in 2020 an increase of 33% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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