Latin America and the Caribbean: Market for Calcium Ammonium Nitrate (CAN) 2025

Market Size for Calcium Ammonium Nitrate (CAN) in Latin America and the Caribbean

In 2021, the Latin American calcium ammonium nitrate (CAN) market decreased by -4.3% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.4% against 2016 indices. As a result, consumption attained the peak level of $X, and then fell in the following year.

Production of Calcium Ammonium Nitrate (CAN) in Latin America and the Caribbean

In value terms, calcium ammonium nitrate (CAN) production fell to $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +64.9% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 24% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then shrank in the following year.

Exports of Calcium Ammonium Nitrate (CAN)

Exports in Latin America and the Caribbean

In 2021, the amount of calcium ammonium nitrate (CAN) exported in Latin America and the Caribbean dropped remarkably to X tons, falling by -23.7% on the previous year's figure. Overall, exports recorded a dramatic decline. The growth pace was the most rapid in 2019 with an increase of 204%. 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, calcium ammonium nitrate (CAN) exports dropped sharply to $X in 2021. In general, exports showed a sharp descent. The most prominent rate of growth was recorded in 2019 when exports increased by 211% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Costa Rica represented the key exporter of calcium ammonium nitrate (CAN) in Latin America and the Caribbean, with the volume of exports recording X tons, which was approx. 55% of total exports in 2021. Trinidad and Tobago (X tons) took a 27% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (17%). Chile (X tons) followed a long way behind the leaders.

Exports from Costa Rica decreased at an average annual rate of -8.9% from 2012 to 2021. Trinidad and Tobago (-3.8%), Argentina (-7.7%) and Chile (-28.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Costa Rica, Trinidad and Tobago and Argentina increased by +40, +22 and +13 percentage points, respectively.

In value terms, the largest calcium ammonium nitrate (CAN) supplying countries in Latin America and the Caribbean were Costa Rica ($X), Argentina ($X) and Trinidad and Tobago ($X), with a combined 98% share of total exports.

Argentina, with a CAGR of -0.1%, saw the highest growth rate of the value of exports, in terms of the main exporting countries 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 2021, rising by 6.4% against the previous year. Overall, the export price, however, continues to indicate a slight decrease. The pace of growth was the most pronounced in 2018 when the export price increased by 19%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+8.2%), while the other leaders experienced a decline in the export price figures.

Imports of Calcium Ammonium Nitrate (CAN)

Imports in Latin America and the Caribbean

Calcium ammonium nitrate (CAN) imports expanded markedly to X tons in 2021, with an increase of 13% on the previous year's figure. Overall, imports showed a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 63% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, calcium ammonium nitrate (CAN) imports surged to $X in 2021. In general, imports enjoyed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Belize (X tons) was the main importer of calcium ammonium nitrate (CAN), committing 49% of total imports. Mexico (X tons) took a 26% share (based on physical terms) of total imports, which put it in second place, followed by Turks and Caicos Islands (8.6%), Trinidad and Tobago (8.6%) and Suriname (6.6%).

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +35.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belize ($X) constitutes the largest market for imported calcium ammonium nitrate (CAN) in Latin America and the Caribbean, comprising 51% of total imports. The second position in the ranking was held by Mexico ($X), with a 25% share of total imports. It was followed by Trinidad and Tobago, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value in Belize amounted to +2.4%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+32.9% per year) and Trinidad and Tobago (+30.6% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 59% against the previous year. In general, the import price, however, faced a deep reduction. 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 Suriname ($X per ton) and Belize ($X per ton), while Turks and Caicos Islands ($X per ton) and Trinidad and Tobago ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Suriname (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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