Chile: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Chile

In 2021, the Chilean iron oxide pigment market increased by 3.8% to $X for the first time since 2016, thus ending a four-year declining trend. In general, consumption, however, showed a abrupt contraction. Iron oxide pigment consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Iron Oxide Pigment Production in Chile

In value terms, iron oxide pigment production skyrocketed to $X in 2021 estimated in export price. In general, production enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 134% against the previous year. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Iron Oxide Pigment Exports

Exports from Chile

In 2021, shipments abroad of iron oxide pigments decreased by -23.4% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports showed a pronounced curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 1,491% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron oxide pigment exports amounted to $X in 2021. In general, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2019 with an increase of 957% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for iron oxide pigment exports from Chile, with a 90% share of total exports. Moreover, iron oxide pigment exports to Mexico exceeded the volume sent to the second major destination, Peru (X kg), tenfold.

From 2013 to 2021, the average annual growth rate of volume to Mexico totaled +61.6%.

In value terms, Mexico ($X) remains the key foreign market for iron oxide pigments exports from Chile, comprising 80% of total exports. The second position in the ranking was held by Peru ($X), with a 9.4% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of value to Mexico totaled +56.3%.

Export Prices by Country

In 2021, the average iron oxide pigment export price amounted to $X per ton, increasing by 45% against the previous year. Over the period under review, the export price, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2015 an increase of 120% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Mexico totaled $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+215.7%), while the prices for the other major destinations experienced a decline.

Iron Oxide Pigment Imports

Imports into Chile

In 2021, the amount of iron oxide pigments imported into Chile surged to X tons, picking up by 25% against 2020. The total import volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron oxide pigment imports soared to $X in 2021. In general, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.7% 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 +51.0% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 43%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of iron oxide pigment imports to Chile, with a combined 71% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +9.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron oxide pigment suppliers to Chile were Germany ($X), China ($X) and Colombia ($X), with a combined 78% share of total imports.

Germany, with a CAGR of +12.3%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, with an increase of 7.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2014 an increase of 31% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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