Costa Rica: Alumina Market 2024

Alumina Market Size in Costa Rica

The Costa Rican alumina market fell to $X in 2022, declining by -9.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +56.1% against 2020 indices. Alumina consumption peaked at $X in 2021, and then fell in the following year.

Alumina Exports

Exports from Costa Rica

In 2022, shipments abroad of alumina decreased by -2.6% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports saw a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of 275%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, alumina exports expanded modestly to $X in 2022. Over the period under review, exports faced a deep slump. The growth pace was the most rapid in 2019 when exports increased by 302% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Nicaragua (X tons) was the main destination for alumina exports from Costa Rica, with a 80% share of total exports. Moreover, alumina exports to Nicaragua exceeded the volume sent to the second major destination, Guatemala (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Nicaragua amounted to -7.2%.

In value terms, Guatemala ($X) remains the key foreign market for alumina exports from Costa Rica, comprising 71% of total exports. The second position in the ranking was taken by Nicaragua ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Guatemala totaled -7.3%.

Export Prices by Country

The average alumina export price stood at $X per ton in 2022, increasing by 5.1% against the previous year. In general, the export price, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2015 an increase of 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Nicaragua totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+0.8%).

Alumina Imports

Imports into Costa Rica

In 2022, approx. X tons of alumina were imported into Costa Rica; which is down by -4.6% on 2021 figures. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 104%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, alumina imports dropped remarkably to $X in 2022. Overall, imports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 47% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped significantly in the following year.

Imports by Country

In 2022, France (X tons) constituted the largest alumina supplier to Costa Rica, with a 87% share of total imports. Moreover, alumina imports from France exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold. The third position in this ranking was held by the United States (X kg), with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume from France totaled +27.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-12.0% per year) and the United States (-17.5% per year).

In value terms, the largest alumina suppliers to Costa Rica were the United States ($X), France ($X) and Italy ($X), together accounting for 80% of total imports.

France, with a CAGR of +12.0%, 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

In 2022, the average alumina import price amounted to $X per ton, with a decrease of -11.9% against the previous year. In general, the import price, however, recorded a modest increase. The growth pace was the most rapid in 2019 an increase of 63%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, 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 the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+31.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform