Guatemala: Sulphites Market 2024

Sulphites Market Size in Guatemala

In 2022, the Guatemalan sulphites market increased by 61% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption, however, saw a deep contraction. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Sulphites Exports

Exports from Guatemala

In 2022, shipments abroad of sulphites decreased by -72.7% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 486%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, sulphites exports shrank dramatically to $X in 2022. In general, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 870% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Honduras (X tons) was the main destination for sulphites exports from Guatemala, with a 82% share of total exports. Moreover, sulphites exports to Honduras exceeded the volume sent to the second major destination, Nicaragua (X tons), tenfold. Belize (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Honduras totaled +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-5.9% per year) and Belize (-5.4% per year).

In value terms, Honduras ($X) emerged as the key foreign market for sulphites exports from Guatemala, comprising 59% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 25% share of total exports. It was followed by Belize, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to Honduras amounted to +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+7.2% per year) and Belize (-1.5% per year).

Export Prices by Country

In 2022, the average sulphites export price amounted to $X per ton, with a decrease of -34.3% against the previous year. Overall, the export price recorded a slight shrinkage. The pace of growth appeared the most rapid in 2019 when the average export price increased by 142% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to Honduras ($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 (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphites Imports

Imports into Guatemala

Sulphites imports into Guatemala skyrocketed to X tons in 2022, rising by 26% on the previous year. Over the period under review, imports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by 37% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, sulphites imports skyrocketed to $X in 2022. Overall, imports, however, saw a abrupt curtailment. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of sulphites to Guatemala, accounting for a 59% share of total imports. Moreover, sulphites imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-21.3% per year) and Turkey (+30.4% per year).

In value terms, the largest sulphites suppliers to Guatemala were Germany ($X), China ($X) and Turkey ($X), together comprising 82% of total imports.

Turkey, with a CAGR of +38.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sulphites import price amounted to $X per ton, rising by 5.2% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphites import price increased by +20.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 33% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Netherlands ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform