Cuba: Market for Manganites, Manganates And Permanganates, Molybdates And Tungstates 2024

Market Size for Manganites, Manganates And Permanganates, Molybdates And Tungstates in Cuba

In 2021, the Cuban market for manganites, manganates and permanganates, molybdates and tungstates increased by 49% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, continues to indicate a mild decline. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Exports of Manganites, Manganates And Permanganates, Molybdates And Tungstates

Exports from Cuba

For the third consecutive year, Cuba recorded growth in overseas shipments of manganites, manganates and permanganates, molybdates and tungstates, which increased by 42% to X kg in 2019. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 95%. The exports peaked in 2019 and are likely to see steady growth in the immediate term.

In value terms, manganites, manganates, molybdates and tungstates exports surged to $X in 2019. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2018 when exports increased by 188% against the previous year. Over the period under review, the exports reached the maximum in 2019 and are likely to continue growth in the near future.

Exports by Country

Nicaragua (X kg) was the main destination for manganites, manganates, molybdates and tungstates exports from Cuba, with a approx. 100% share of total exports.

From 2017 to 2019, the average annual rate of growth in terms of volume to Nicaragua amounted to +66.4%.

In value terms, Nicaragua ($X) also remains the key foreign market for manganites, manganates and permanganates, molybdates and tungstates exports from Cuba.

From 2017 to 2019, the average annual growth rate of value to Nicaragua amounted to +100.8%.

Export Prices by Country

In 2019, the average export price for manganites, manganates and permanganates, molybdates and tungstates amounted to $X per ton, stabilizing at the previous year. In general, export price indicated a significant increase from 2017 to 2019: its price increased at an average annual rate of +20.7% over the last two years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, manganites, manganates, molybdates and tungstates export price increased by +45.6% against 2017 indices. The growth pace was the most rapid in 2018 an increase of 47% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

As there is only one major export destination, the average price level is determined by prices for Nicaragua.

From 2017 to 2019, the rate of growth in terms of prices for Nicaragua amounted to +20.7% per year.

Imports of Manganites, Manganates And Permanganates, Molybdates And Tungstates

Imports into Cuba

For the third year in a row, Cuba recorded growth in supplies from abroad of manganites, manganates and permanganates, molybdates and tungstates, which increased by 58% to X tons in 2021. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 262% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, manganites, manganates, molybdates and tungstates imports soared to $X in 2021. Over the period under review, imports, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 133% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X kg), Spain (X kg) and Belgium (X kg) were the main suppliers of manganites, manganates, molybdates and tungstates imports to Cuba, with a combined 80% share of total imports. Germany lagged somewhat behind, comprising a further 6%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +60.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X) constituted the largest supplier of manganites, manganates and permanganates, molybdates and tungstates to Cuba, comprising 52% of total imports. The second position in the ranking was taken by Spain ($X), with an 18% share of total imports. It was followed by Belgium, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-2.6% per year) and Belgium (+23.2% per year).

Import Prices by Country

The average import price for manganites, manganates and permanganates, molybdates and tungstates stood at $X per ton in 2021, with a decrease of -14.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 126%. As a result, import price reached the peak level of $X per ton. From 2019 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 Italy ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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