Guatemala: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Guatemala

The Guatemalan carbon dioxide market amounted to $X in 2022, growing by 3.7% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.3% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Carbon Dioxide Production in Guatemala

In value terms, carbon dioxide production rose modestly to $X in 2022 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 38%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Carbon Dioxide Exports

Exports from Guatemala

In 2022, the amount of carbon dioxide exported from Guatemala totaled X tons, remaining relatively unchanged against the year before. In general, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2019 when exports increased by 107%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, carbon dioxide exports fell to $X in 2022. Over the period under review, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by 75% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for carbon dioxide exports from Guatemala, with a 45% share of total exports. Moreover, carbon dioxide exports to Mexico exceeded the volume sent to the second major destination, El Salvador (X tons), twofold. The third position in this ranking was taken by Honduras (X tons), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico stood at +90.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-9.6% per year) and Honduras (-15.4% per year).

In value terms, the largest markets for carbon dioxide exported from Guatemala were El Salvador ($X), Mexico ($X) and Uruguay ($X), together accounting for 80% of total exports.

Mexico, with a CAGR of +87.5%, 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

In 2022, the average carbon dioxide export price amounted to $X per ton, dropping by -12.8% against the previous year. Over the period under review, the export price recorded a slight reduction. The most prominent rate of growth was recorded in 2020 an increase of 33%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belize ($X per ton), while the average price for exports to Nicaragua ($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 Belize (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Carbon Dioxide Imports

Imports into Guatemala

In 2022, the amount of carbon dioxide imported into Guatemala contracted slightly to X tons, leveling off at 2021. Over the period under review, imports showed a deep setback. The pace of growth was the most pronounced in 2017 when imports increased by 21% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, carbon dioxide imports expanded markedly to $X in 2022. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 24%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Costa Rica (X tons) constituted the largest carbon dioxide supplier to Guatemala, with a 74% share of total imports. Moreover, carbon dioxide imports from Costa Rica exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Costa Rica stood at +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-25.2% per year) and Trinidad and Tobago (-9.5% per year).

In value terms, Costa Rica ($X) constituted the largest supplier of carbon dioxide to Guatemala, comprising 60% of total imports. The second position in the ranking was held by Mexico ($X), with a 29% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Costa Rica totaled +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-17.7% per year) and Trinidad and Tobago (+14.1% per year).

Import Prices by Country

In 2022, the average carbon dioxide import price amounted to $X per ton, with an increase of 11% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carbon dioxide import price increased by +84.2% against 2012 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 12% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Trinidad and Tobago ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+26.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform