Guatemala: Cement Market 2024

Cement Market Size in Guatemala

In 2022, the Guatemalan cement market decreased by -3.1% to $X for the first time since 2016, thus ending a five-year rising trend. In general, consumption, however, showed a relatively flat trend pattern. Cement consumption peaked at $X in 2021, and then fell in the following year.

Cement Production in Guatemala

In value terms, cement production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2020 with an increase of 5% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cement Exports

Exports from Guatemala

In 2022, overseas shipments of cement increased by 45% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 111%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, cement exports soared to $X in 2022. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of 78% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

El Salvador (X tons), Colombia (X tons) and Belize (X tons) were the main destinations of cement exports from Guatemala, with a combined 92% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia (with a CAGR of +165.8%), while the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X) emerged as the key foreign market for cement exports from Guatemala, comprising 55% of total exports. The second position in the ranking was taken by Colombia ($X), with an 18% share of total exports. It was followed by Belize, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador amounted to +19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+166.7% per year) and Belize (+68.8% per year).

Export Prices by Country

In 2022, the average cement export price amounted to $X per ton, picking up by 16% against the previous year. In general, the export price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2017 an increase of 20%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to Colombia ($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 El Salvador (+1.6%), while the prices for the other major destinations experienced mixed trend patterns.

Cement Imports

Imports into Guatemala

In 2022, overseas purchases of cement decreased by -12.7% to X tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2018 with an increase of 148%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, cement imports amounted to $X in 2022. Overall, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 115% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of cement to Guatemala, with a 76% share of total imports. Moreover, cement imports from Vietnam exceeded the figures recorded by the second-largest supplier, Honduras (X tons), ninefold. Mexico (X tons) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam amounted to +95.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (+176.0% per year) and Mexico (+29.6% per year).

In value terms, Vietnam ($X) constituted the largest supplier of cement to Guatemala, comprising 71% of total imports. The second position in the ranking was taken by Honduras ($X), with an 8.2% share of total imports. It was followed by Mexico, with a 7% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam stood at +99.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (+145.0% per year) and Mexico (+24.2% per year).

Import Prices by Country

The average cement import price stood at $X per ton in 2022, picking up by 23% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cement import price increased by +25.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 30% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Vietnam ($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 Dominican Republic (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform