Chile: Lithium Oxide Market 2024

Lithium Oxide Market Size in Chile

The Chilean lithium oxide market surged to $X in 2021, with an increase of 21% against the previous year. Overall, consumption recorded significant growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Lithium Oxide Production in Chile

In value terms, lithium oxide production surged to $X in 2021 estimated in export price. Overall, production recorded resilient growth. The pace of growth was the most pronounced in 2016 when the production volume increased by 137% against the previous year. Lithium oxide production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Lithium Oxide Exports

Exports from Chile

In 2021, approx. X tons of lithium oxides were exported from Chile; jumping by 21% on 2020 figures. In general, exports posted a remarkable increase. The growth pace was the most rapid in 2019 when exports increased by 51% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, lithium oxide exports skyrocketed to $X in 2021. Over the period under review, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 144% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea (X tons) was the main destination for lithium oxide exports from Chile, accounting for a 63% share of total exports. Moreover, lithium oxide exports to South Korea exceeded the volume sent to the second major destination, China (X tons), fivefold. The United States (X tons) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +30.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+29.3% per year) and the United States (-5.4% per year).

In value terms, South Korea ($X) remains the key foreign market for lithium oxides exports from Chile, comprising 61% of total exports. The second position in the ranking was taken by China ($X), with a 13% share of total exports. It was followed by the United States, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +37.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+39.1% per year) and the United States (+0.3% per year).

Export Prices by Country

In 2021, the average lithium oxide export price amounted to $X per ton, picking up by 40% against the previous year. Over the period under review, the export price posted resilient growth. The growth pace was the most rapid in 2016 an increase of 65% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Belgium ($X per ton), while the average price for exports to South Korea ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium Oxide Imports

Imports into Chile

In 2021, the amount of lithium oxides imported into Chile soared to X tons, with an increase of 48% against 2020 figures. In general, imports continue to indicate a noticeable increase. The pace of growth was the most pronounced in 2017 when imports increased by 39,248%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, lithium oxide imports surged to $X in 2021. Over the period under review, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 46,536%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of lithium oxide to Chile, with a 86% share of total imports. Moreover, lithium oxide imports from the United States exceeded the figures recorded by the second-largest supplier, China (X kg), more than tenfold. The third position in this ranking was held by Russia (X kg), with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+182.0% per year) and Russia (-43.0% per year).

In value terms, the United States ($X), China ($X) and the Netherlands ($X) were the largest lithium oxide suppliers to Chile, together accounting for 89% of total imports.

China, with a CAGR of +343.5%, recorded the highest growth rate of 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 lithium oxide import price stood at $X per ton in 2021, surging by 34% against the previous year. Over the period under review, the import price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 an increase of 78% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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 the Netherlands ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+58.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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