Latin America and the Caribbean: Articles Of Peat Market 2024

Articles Of Peat Market Size in Latin America and the Caribbean

The Latin American articles of peat market reached $X in 2022, surging by 3.9% against the previous year. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.7% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Articles Of Peat Production in Latin America and the Caribbean

In value terms, articles of peat production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Articles Of Peat Exports

Exports in Latin America and the Caribbean

Articles of peat exports contracted to X tons in 2022, waning by -11.3% on the previous year's figure. In general, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 176% against the previous year. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, articles of peat exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 146% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Uruguay (X tons) and the Dominican Republic (X tons) prevails in exports structure, together mixing up 91% of total exports. The following exporters - Costa Rica (X kg), Brazil (X kg) and Colombia (X kg) - each reached an 8.4% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Uruguay (with a CAGR of +20.1%), while the other leaders experienced more modest paces of growth.

In value terms, Uruguay ($X) emerged as the largest articles of peat supplier in Latin America and the Caribbean, comprising 60% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a 14% share of total exports. It was followed by Colombia, with a 9.6% share.

In Uruguay, articles of peat exports increased at an average annual rate of +15.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Dominican Republic (-13.1% per year) and Colombia (+11.3% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 57% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced reduction. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+11.5%), while the other leaders experienced more modest paces of growth.

Articles Of Peat Imports

Imports in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in supplies from abroad of articles of peat, when their volume decreased by -39.6% to X tons. Over the period under review, imports recorded a deep downturn. The pace of growth was the most pronounced in 2020 when imports increased by 111% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, articles of peat imports declined sharply to $X in 2022. Overall, imports showed a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of 113% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Chile (X tons) represented the major importer of articles of peat, comprising 54% of total imports. Costa Rica (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (5.4%), Ecuador (5.2%) and Guyana (5.1%). The following importers - Saint Lucia (X tons) and Antigua and Barbuda (X tons) - together made up 6.4% of total imports.

From 2012 to 2022, average annual rates of growth with regard to articles of peat imports into Chile stood at -5.6%. At the same time, Antigua and Barbuda (+68.6%), Argentina (+60.0%), Saint Lucia (+54.9%), Guyana (+12.4%) and Ecuador (+3.6%) displayed positive paces of growth. Moreover, Antigua and Barbuda emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +68.6% from 2012-2022. By contrast, Costa Rica (-19.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile, Argentina, Guyana, Saint Lucia, Ecuador and Antigua and Barbuda increased by +16, +5.4, +4.4, +4, +3.8 and +2.3 percentage points, respectively.

In value terms, Chile ($X) constitutes the largest market for imported articles of peat in Latin America and the Caribbean, comprising 54% of total imports. The second position in the ranking was taken by Costa Rica ($X), with a 14% share of total imports. It was followed by Argentina, with a 6.9% share.

In Chile, articles of peat imports contracted by an average annual rate of -3.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Costa Rica (-18.1% per year) and Argentina (+43.7% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 13% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 76% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

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 Antigua and Barbuda ($X per ton), while Saint Lucia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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