Brazil: Alumina Market 2024

Alumina Market Size in Brazil

In 2022, the Brazilian alumina market increased by 13% to $X for the first time since 2018, thus ending a three-year declining trend. In general, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Alumina Production in Brazil

In value terms, alumina production reached $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 -1.9% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 34% against the previous year. Alumina production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Alumina Exports

Exports from Brazil

After three years of growth, overseas shipments of alumina decreased by -6% to X tons in 2022. The total export volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 16%. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, alumina exports expanded sharply to $X in 2022. In general, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +35.9% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 29% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Canada (X tons), Norway (X tons) and the United States (X tons) were the main destinations of alumina exports from Brazil, together comprising 85% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +17.1%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Norway ($X) and the United States ($X) were the largest markets for alumina exported from Brazil worldwide, together accounting for 85% of total exports.

Among the main countries of destination, the United States, with a CAGR of +22.4%, recorded the highest rates of growth with regard to 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

The average alumina export price stood at $X per ton in 2022, surging by 17% against the previous year. In general, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, alumina export price increased by +32.0% against 2020 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 36% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Canada ($X per ton), while the average price for exports to Norway ($X per ton) and Iceland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Alumina Imports

Imports into Brazil

Alumina imports into Brazil fell sharply to X tons in 2022, waning by -56.8% against the previous year's figure. Overall, imports recorded a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 109% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, alumina imports declined markedly to $X in 2022. In general, imports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2021 when imports increased by 79% against the previous year. As a result, imports attained the peak of $X, and then declined notably in the following year.

Imports by Country

China (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of alumina imports to Brazil, with a combined 61% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +45.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the Netherlands ($X) appeared to be the largest alumina suppliers to Brazil, together comprising 50% of total imports.

In terms of the main suppliers, China, with a CAGR of +43.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average alumina import price stood at $X per ton in 2022, growing by 67% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +9.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Suriname (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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