Guatemala: Filter Block Market 2024

Filter Block Market Size in Guatemala

The Guatemalan filter block market declined rapidly to $X in 2022, reducing by -22.8% against the previous year. Over the period under review, consumption, however, continues to indicate a prominent increase. As a result, consumption reached the peak level of $X, and then shrank rapidly in the following year.

Filter Block Production in Guatemala

In value terms, filter block production declined sharply to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a significant expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 178% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Filter Block Exports

Exports from Guatemala

In 2022, after two years of decline, there was significant growth in overseas shipments of filter blocks, slabs and plates of paper pulp, when their volume increased by 72% to X tons. Overall, exports recorded a strong increase. The growth pace was the most rapid in 2016 when exports increased by 3,175% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, filter block exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a mild reduction. The pace of growth was the most pronounced in 2016 with an increase of 1,589% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Nicaragua (X tons) was the main destination for filter block exports from Guatemala, with a 86% share of total exports. Moreover, filter block exports to Nicaragua exceeded the volume sent to the second major destination, Honduras (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nicaragua totaled +93.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+1.8% per year) and El Salvador (-18.0% per year).

In value terms, Nicaragua ($X) remains the key foreign market for filter blocks, slabs and plates of paper pulp exports from Guatemala, comprising 93% of total exports. The second position in the ranking was taken by Honduras ($X), with a 5.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Nicaragua stood at +44.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-19.9% per year) and El Salvador (-33.6% per year).

Export Prices by Country

In 2022, the average filter block export price amounted to $X per ton, reducing by -22.4% against the previous year. In general, the export price faced a abrupt downturn. The most prominent rate of growth was recorded in 2021 an increase of 65% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 Nicaragua ($X per ton), while the average price for exports to Honduras ($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 (-19.0%), while the prices for the other major destinations experienced a decline.

Filter Block Imports

Imports into Guatemala

In 2022, after two years of growth, there was significant decline in supplies from abroad of filter blocks, slabs and plates of paper pulp, when their volume decreased by -14.5% to X tons. Over the period under review, imports, however, saw a tangible expansion. The pace of growth was the most pronounced in 2017 when imports increased by 89%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, filter block imports rose notably to $X in 2022. In general, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 98%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Mexico (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of filter block imports to Guatemala, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +19.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest filter block suppliers to Guatemala were Germany ($X), Mexico ($X) and the United States ($X), with a combined 98% share of total imports.

The United States, with a CAGR of +21.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average filter block import price stood at $X per ton in 2022, picking up by 28% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, filter block import price increased by +86.6% against 2019 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 33%. The import price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Panama ($X per ton) and the United States ($X per ton), while the price for Mexico ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform