Guatemala: Aluminium Hydroxide Market 2024

Aluminium Hydroxide Market Size in Guatemala

The Guatemalan aluminium hydroxide market contracted modestly to $X in 2022, with a decrease of -2.8% against the previous year. Over the period under review, consumption showed a prominent expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Aluminium Hydroxide Production in Guatemala

In value terms, aluminium hydroxide production declined slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 49%. Aluminium hydroxide production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Aluminium Hydroxide Exports

Exports from Guatemala

In 2022, aluminium hydroxide exports from Guatemala reached X tons, surging by 13% against the previous year's figure. Over the period under review, exports saw buoyant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 258%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, aluminium hydroxide exports skyrocketed to $X in 2022. In general, exports saw a resilient increase. The growth pace was the most rapid in 2021 when exports increased by 201%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Nicaragua (X tons), Honduras (X tons) and the Dominican Republic (X tons) were the main destinations of aluminium hydroxide exports from Guatemala, together accounting for 91% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +32.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for aluminium hydroxide exported from Guatemala were Nicaragua ($X), Honduras ($X) and Costa Rica ($X), with a combined 83% share of total exports. The Dominican Republic and El Salvador lagged somewhat behind, together accounting for a further 17%.

The Dominican Republic, with a CAGR of +32.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average aluminium hydroxide export price amounted to $X per ton, picking up by 13% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium hydroxide export price decreased by -34.3% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 56% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+13.9%), while the prices for the other major destinations experienced mixed trend patterns.

Aluminium Hydroxide Imports

Imports into Guatemala

Aluminium hydroxide imports into Guatemala shrank to X tons in 2022, reducing by -11.3% on the year before. Over the period under review, imports saw a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 117%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, aluminium hydroxide imports surged to $X in 2022. Overall, imports, however, continue to indicate a noticeable expansion. The pace of growth was the most pronounced in 2021 with an increase of 124%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

India (X tons), South Korea (X tons) and the United States (X tons) were the main suppliers of aluminium hydroxide imports to Guatemala, together comprising 97% of total imports. Mexico lagged somewhat behind, comprising a further 2%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +28.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of aluminium hydroxide to Guatemala, comprising 50% of total imports. The second position in the ranking was held by India ($X), with a 22% share of total imports. It was followed by the United States, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from South Korea totaled +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.8% per year) and the United States (-2.8% per year).

Import Prices by Country

The average aluminium hydroxide import price stood at $X per ton in 2022, rising by 31% against the previous year. Overall, the import price recorded significant growth. The growth pace was the most rapid in 2014 an increase of 178%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 ($X per ton), while the price for Mexico ($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 (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform