Costa Rica: Silica Sand Market 2024

Silica Sand Market Size in Costa Rica

The Costa Rican silica sand market amounted to $X in 2022, approximately reflecting 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, consumption posted a significant expansion. Silica sand consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Silica Sand Exports

Exports from Costa Rica

In 2022, silica sand exports from Costa Rica totaled X tons, approximately reflecting 2021 figures. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 1.5% against the previous year. As a result, the exports reached the peak of X tons; afterwards, it flattened through to 2022.

In value terms, silica sand exports reached $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 0.5%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X tons) was the main destination for silica sand exports from Costa Rica, accounting for a 94% share of total exports. It was followed by Nicaragua (X tons), with a 1.9% share of total exports. Ecuador (X tons) ranked third in terms of total exports with a 1.8% share.

From 2015 to 2022, the average annual rate of growth in terms of volume to Panama stood at +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+3.6% per year) and Ecuador (+61.4% per year).

In value terms, Panama ($X) remains the key foreign market for silica sands (quartz sands or industrial sands) exports from Costa Rica, comprising 62% of total exports. The second position in the ranking was held by Nicaragua ($X), with an 11% share of total exports. It was followed by Ecuador, with a 2.7% share.

From 2015 to 2022, the average annual rate of growth in terms of value to Panama stood at -4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+12.5% per year) and Ecuador (+35.7% per year).

Export Prices by Country

In 2022, the average silica sand export price amounted to $X per ton, approximately mirroring the previous year. In general, the export price recorded a slight descent. The most prominent rate of growth was recorded in 2021 when the average export price increased by 0.5% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+24.7%), while the prices for the other major destinations experienced mixed trend patterns.

Silica Sand Imports

Imports into Costa Rica

In 2022, the amount of silica sands (quartz sands or industrial sands) imported into Costa Rica amounted to X tons, remaining relatively unchanged against the previous year. In general, imports recorded a significant increase. The pace of growth appeared the most rapid in 2015 when imports increased by 677%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, silica sand imports amounted to $X in 2022. Overall, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 148% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Guyana (X tons) constituted the largest silica sand supplier to Costa Rica, accounting for a 57% share of total imports. Moreover, silica sand imports from Guyana exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. Guatemala (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Guyana totaled +37.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+210.9% per year) and Guatemala (+31.3% per year).

In value terms, Mexico ($X), Guatemala ($X) and France ($X) were the largest silica sand suppliers to Costa Rica, together accounting for 63% of total imports.

France, with a CAGR of +67.6%, saw 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 silica sand import price amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, recorded a dramatic descent. The pace of growth was the most pronounced in 2014 an increase of 98% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Guyana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (-15.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform