Latin America and the Caribbean: Bituminous Mixtures Market 2024

Bituminous Mixtures Market Size in Latin America and the Caribbean

In 2021, the Latin American bituminous mixtures market decreased by -0.5% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then dropped slightly in the following year.

Bituminous Mixtures Production in Latin America and the Caribbean

In value terms, bituminous mixtures production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell modestly in the following year.

Bituminous Mixtures Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of bituminous mixtures were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 58%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, bituminous mixtures exports surged to $X in 2021. Overall, exports, however, showed a abrupt decline. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Brazil (X tons) was the major exporter of bituminous mixtures, creating 40% of total exports. Chile (X tons) held the second position in the ranking, followed by Venezuela (X tons), Colombia (X tons) and Trinidad and Tobago (X tons). All these countries together held near 47% share of total exports. El Salvador (X tons) and Peru (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to bituminous mixtures exports from Brazil stood at -2.0%. At the same time, Chile (+37.8%), Colombia (+29.7%) and Trinidad and Tobago (+13.0%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +37.8% from 2012-2021. By contrast, El Salvador (-4.6%), Peru (-12.9%) and Venezuela (-13.6%) illustrated a downward trend over the same period. While the share of Chile (+16 p.p.), Colombia (+10 p.p.), Brazil (+4.8 p.p.) and Trinidad and Tobago (+4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Peru (-5.1 p.p.) and Venezuela (-25.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest bituminous mixtures supplier in Latin America and the Caribbean, comprising 39% of total exports. The second position in the ranking was taken by Chile ($X), with a 17% share of total exports. It was followed by Colombia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled -2.0%. In the other countries, the average annual rates were as follows: Chile (+31.4% per year) and Colombia (+25.8% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 20% against the previous year. In general, the export price, however, showed a mild curtailment. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was El Salvador ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+2.5%), while the other leaders experienced more modest paces of growth.

Bituminous Mixtures Imports

Imports in Latin America and the Caribbean

In 2021, bituminous mixtures imports in Latin America and the Caribbean soared to X tons, picking up by 49% compared with the previous year. Total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +119.8% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, bituminous mixtures imports skyrocketed to $X in 2021. Over the period under review, imports posted a mild expansion. The growth pace was the most rapid in 2017 when imports increased by 73% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

In 2021, Chile (X tons), Paraguay (X tons), Brazil (X tons) and Panama (X tons) represented the largest importer of bituminous mixtures in Latin America and the Caribbean, generating 86% of total import. It was distantly followed by Bolivia (X tons), committing an 8.1% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Panama (with a CAGR of +93.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Paraguay ($X) and Panama ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 65% of total imports.

In terms of the main importing countries, Panama, with a CAGR of +78.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by 6.2% against the previous year. In general, the import price, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2017 an increase of 23% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Panama ($X per ton) and Bolivia ($X per ton), while Chile ($X per ton) and Paraguay ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (-3.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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