Brazil: Carbides Market 2024

Carbides Market Size in Brazil

The Brazilian carbides market fell slightly to $X in 2022, waning by -4.7% against the previous year. Over the period under review, consumption saw a deep contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Carbides Production in Brazil

In value terms, carbides production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a deep downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 33%. Carbides production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Carbides Exports

Exports from Brazil

In 2022, after two years of growth, there was significant decline in shipments abroad of carbides, when their volume decreased by -10.8% to X tons. Overall, total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.9% 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 +2.0% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of 99% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, carbides exports skyrocketed to $X in 2022. In general, exports, however, recorded a pronounced increase. The most prominent rate of growth was recorded in 2018 with an increase of 83% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Norway (X tons), the United States (X tons) and Belgium (X tons) were the main destinations of carbides exports from Brazil, together accounting for 50% of total exports. Argentina, Mexico, Germany, Italy, the UK, the Netherlands, Peru, Bolivia, Chile and Portugal lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +35.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for carbides exported from Brazil were the United States ($X), Norway ($X) and Belgium ($X), together accounting for 52% of total exports. Argentina, Mexico, Germany, the UK, Italy, Peru, Portugal, the Netherlands, Bolivia and Chile lagged somewhat behind, together accounting for a further 37%.

Portugal, with a CAGR of +37.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average carbides export price stood at $X per ton in 2022, picking up by 47% against the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carbides export price increased by +54.6% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Carbides Imports

Imports into Brazil

In 2022, the amount of carbides imported into Brazil skyrocketed to X tons, rising by 26% on the previous year. Over the period under review, imports, however, recorded a mild setback. The most prominent rate of growth was recorded in 2014 with an increase of 306%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, carbides imports surged to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 99% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of carbides to Brazil, accounting for a 78% share of total imports. Moreover, carbides imports from China exceeded the figures recorded by the second-largest supplier, Argentina (X tons), sevenfold. The third position in this ranking was taken by South Africa (X tons), with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-13.7% per year) and South Africa (+18.1% per year).

In value terms, South Africa ($X), China ($X) and Argentina ($X) appeared to be the largest carbides suppliers to Brazil, together comprising 60% of total imports. These countries were followed by Spain, which accounted for a further 3.6%.

Spain, with a CAGR of +30.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average carbides import price amounted to $X per ton, increasing by 1.9% against the previous year. Overall, the import price enjoyed mild growth. The pace of growth appeared the most rapid in 2018 an increase of 90% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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