Guatemala: Carbides Market 2024

Carbides Market Size in Guatemala

The Guatemalan carbides market soared to $X in 2022, jumping by 29% 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). Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +10.6% against 2018 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the immediate term.

Carbides Exports

Exports from Guatemala

In 2022, the amount of carbides exported from Guatemala declined sharply to X tons, waning by -29% against the year before. In general, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 1,162% against the previous year. As a result, the exports reached the peak of X tons, and then contracted markedly in the following year.

In value terms, carbides exports declined modestly to $X in 2022. Over the period under review, exports, however, saw a significant increase. The growth pace was the most rapid in 2021 when exports increased by 1,082% against the previous year. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

Honduras (X tons), Panama (X tons) and Nicaragua (X tons) were the main destinations of carbides exports from Guatemala.

From 2013 to 2022, the biggest increases were recorded for Panama (with a CAGR of +55.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X), Panama ($X) and Nicaragua ($X) were the largest markets for carbides exported from Guatemala worldwide, with a combined 99.9% share of total exports.

Panama, with a CAGR of +39.0%, recorded the highest rates of growth with regard to the value of exports, among 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

The average carbides export price stood at $X per ton in 2022, surging by 40% against the previous year. Overall, the export price, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2016 when the average export price increased by 1,280% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Honduras ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+22.0%), while the prices for the other major destinations experienced a decline.

Carbides Imports

Imports into Guatemala

In 2022, approx. X tons of carbides were imported into Guatemala; therefore, remained relatively stable against the previous year. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, carbides imports soared to $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +22.9% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 39% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons) constituted the largest carbides supplier to Guatemala, with a 70% share of total imports. Moreover, carbides imports from Mexico exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Mexico stood at +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+78.2% per year) and China (-3.3% per year).

In value terms, Mexico ($X) constituted the largest supplier of carbides to Guatemala, comprising 63% of total imports. The second position in the ranking was held by Brazil ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Mexico amounted to +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+102.3% per year) and China (+3.4% per year).

Import Prices by Country

In 2022, the average carbides import price amounted to $X per ton, jumping by 35% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. As a result, import price attained the peak level and is likely to continue 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 China ($X per ton), while the price for Mexico ($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 Netherlands (+36.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform