Latin America and the Caribbean: Aluminum Market 2025

Aluminum Market Size in Latin America and the Caribbean

In 2021, the Latin American aluminum market increased by 54% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Aluminum Production in Latin America and the Caribbean

In value terms, aluminum production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 21%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Aluminum Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of aluminum increased by 2.9% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of 14% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, aluminum exports soared to $X in 2021. Overall, exports, however, showed a pronounced shrinkage. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) and Argentina (X tons) represented the main exporters of aluminum in 2021, finishing at near 46% and 35% of total exports, respectively. It was distantly followed by Venezuela (X tons) and Mexico (X tons), together achieving a 19% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Venezuela (with a CAGR of +4.3%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest aluminum supplying countries in Latin America and the Caribbean were Brazil ($X), Argentina ($X) and Venezuela ($X), with a combined 91% share of total exports.

In terms of the main exporting countries, Venezuela, with a CAGR of +7.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of 45% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Mexico ($X per ton) and Argentina ($X per ton), while Brazil ($X per ton) and Venezuela ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Venezuela (+2.9%), while the other leaders experienced more modest paces of growth.

Aluminum Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of aluminum were finally on the rise to reach X tons after two years of decline. Over the period under review, imports continue to indicate tangible growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, aluminum imports surged to $X in 2021. Total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X tons) and Brazil (X tons) represented roughly 94% of total imports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Brazil (with a CAGR of +19.9%).

In value terms, Mexico ($X) and Brazil ($X) were the countries with the highest levels of imports in 2021.

Brazil, with a CAGR of +21.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with a decrease of -3.5% against the previous year. Import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aluminum import price decreased by -29.9% against 2018 indices. The pace of growth appeared the most rapid in 2015 when the import price increased by 44%. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Mexico ($X per ton), while Brazil amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+1.6%).

Source: IndexBox Platform

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