Latin America and the Caribbean: Ammonium Sulphate Market 2024

Ammonium Sulphate Market Size in Latin America and the Caribbean

In 2022, the Latin American ammonium sulphate market increased by 69% to $X, rising for the seventh consecutive year after three years of decline. In general, consumption enjoyed prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ammonium Sulphate Production in Latin America and the Caribbean

In value terms, ammonium sulphate production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ammonium Sulphate Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of ammonium sulphate increased by 22% to X tons, rising for the fifth consecutive year after four years of decline. Overall, exports showed a measured increase. The most prominent rate of growth was recorded in 2020 when exports increased by 26%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, ammonium sulphate exports soared to $X in 2022. In general, exports recorded a pronounced increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the three major exporters of ammonium sulphate, namely Honduras, Guatemala and Brazil, represented more than two-thirds of total export. The Dominican Republic (X tons) took the next position in the ranking, followed by El Salvador (X tons) and Costa Rica (X tons). All these countries together held near 19% share of total exports. Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Costa Rica (with a CAGR of +40.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest ammonium sulphate supplying countries in Latin America and the Caribbean were Brazil ($X), Guatemala ($X) and Honduras ($X), together accounting for 67% of total exports. El Salvador, the Dominican Republic, Uruguay and Costa Rica lagged somewhat behind, together accounting for a further 27%.

Among the main exporting countries, Uruguay, with a CAGR of +39.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of 13% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 28% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+2.8%), while the other leaders experienced more modest paces of growth.

Ammonium Sulphate Imports

Imports in Latin America and the Caribbean

For the seventh year in a row, LatAmerica and the Caribbean recorded growth in supplies from abroad of ammonium sulphate, which increased by 40% to X tons in 2022. Over the period under review, imports recorded a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ammonium sulphate imports soared to $X in 2022. In general, imports saw buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil dominates imports structure, recording X tons, which was approx. 69% of total imports in 2022. It was distantly followed by Mexico (X tons), comprising a 6.4% share of total imports. The following importers - El Salvador (X tons), Peru (X tons), Uruguay (X tons), Colombia (X tons), Paraguay (X tons), Guatemala (X tons), Ecuador (X tons) and Argentina (X tons) - together made up 21% of total imports.

Imports into Brazil increased at an average annual rate of +11.9% from 2012 to 2022. At the same time, Paraguay (+27.2%), Argentina (+24.2%), Uruguay (+23.5%), Ecuador (+16.5%), Colombia (+13.0%), El Salvador (+7.5%), Mexico (+7.0%), Guatemala (+2.9%) and Peru (+1.8%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +27.2% from 2012-2022. From 2012 to 2022, the share of Brazil, Uruguay and Paraguay increased by +7.8, +2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported ammonium sulphate in Latin America and the Caribbean, comprising 77% of total imports. The second position in the ranking was held by Mexico ($X), with a 3.9% share of total imports. It was followed by Paraguay, with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at +14.9%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+4.4% per year) and Paraguay (+26.7% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 46% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ammonium sulphate import price increased by +86.1% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Guatemala ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+4.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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