Latin America and the Caribbean: Bauxite Market 2024

Bauxite Market Size in Latin America and the Caribbean

The Latin American bauxite market rose to $X in 2022, increasing by 3.3% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2012; afterwards, it flattened through to 2022.

Bauxite Production in Latin America and the Caribbean

In value terms, bauxite production amounted to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 11%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Bauxite Exports

Exports in Latin America and the Caribbean

Bauxite exports dropped to X tons in 2022, which is down by -12.9% against 2021 figures. Over the period under review, exports saw a deep contraction. The growth pace was the most rapid in 2015 with an increase of 25% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, bauxite exports rose remarkably to $X in 2022. In general, exports saw a drastic downturn. The growth pace was the most rapid in 2015 with an increase of 22%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) and Jamaica (X tons) dominates exports structure, together constituting 92% of total exports. It was distantly followed by Guyana (X tons), generating a 5.7% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Brazil (with a CAGR of -4.8%), while the other leaders experienced a decline in the exports figures.

In value terms, Brazil ($X), Guyana ($X) and Jamaica ($X) were the countries with the highest levels of exports in 2022, with a combined 97% share of total exports.

Among the main exporting countries, Guyana, with a CAGR of -3.8%, saw 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

The export price in Latin America and the Caribbean stood at $X per ton in 2022, growing by 21% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Guyana ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (+10.5%), while the other leaders experienced mixed trends in the export price figures.

Bauxite Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of bauxite decreased by -36.8% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 67% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, bauxite imports expanded significantly to $X in 2022. Overall, imports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 75%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Argentina (X tons) was the key importer of bauxite, making up 47% of total imports. Mexico (X tons) took the second position in the ranking, followed by Uruguay (X tons), Colombia (X tons), Brazil (X tons), Ecuador (X tons) and Saint Lucia (X tons). All these countries together held approx. 47% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to bauxite imports into Argentina stood at -5.3%. At the same time, Saint Lucia (+61.6%) displayed positive paces of growth. Moreover, Saint Lucia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +61.6% from 2012-2022. Uruguay experienced a relatively flat trend pattern. By contrast, Ecuador (-3.1%), Colombia (-6.8%), Mexico (-16.7%) and Brazil (-23.8%) illustrated a downward trend over the same period. While the share of Argentina (+21 p.p.), Uruguay (+6.7 p.p.), Saint Lucia (+5 p.p.), Ecuador (+3.6 p.p.) and Colombia (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (-12.1 p.p.) and Brazil (-27 p.p.) displayed negative dynamics.

In value terms, Argentina ($X) constitutes the largest market for imported bauxite in Latin America and the Caribbean, comprising 54% of total imports. The second position in the ranking was taken by Mexico ($X), with a 13% share of total imports. It was followed by Saint Lucia, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Argentina amounted to -7.3%. In the other countries, the average annual rates were as follows: Mexico (-7.8% per year) and Saint Lucia (+70.2% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by 70% against the previous year. Overall, the import price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when the import price increased by 116% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood 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 Saint Lucia ($X per ton), while Uruguay ($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 (+22.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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