Latin America and the Caribbean: Carbides Market 2024

Carbides Market Size in Latin America and the Caribbean

The Latin American carbides market contracted modestly to $X in 2022, declining by -4.6% against the previous year. In general, consumption showed a abrupt decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Carbides Production in Latin America and the Caribbean

In value terms, carbides production shrank to $X in 2022 estimated in export price. In general, production recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Carbides Exports

Exports in Latin America and the Caribbean

In 2022, the amount of carbides exported in Latin America and the Caribbean dropped to X tons, with a decrease of -10.8% against the year before. Over the period under review, exports recorded a perceptible slump. The pace of growth appeared the most rapid in 2018 when exports increased by 44% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, carbides exports surged to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 67%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil was the largest exporting country with an export of about X tons, which amounted to 77% of total exports. Venezuela (X tons) took the second position in the ranking, followed by Mexico (X tons). All these countries together held approx. 19% share of total exports. Argentina (X tons) followed a long way behind the leaders.

Exports from Brazil increased at an average annual rate of +1.9% from 2012 to 2022. At the same time, Mexico (+17.9%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +17.9% from 2012-2022. By contrast, Venezuela (-5.4%) and Argentina (-22.1%) illustrated a downward trend over the same period. While the share of Brazil (+29 p.p.) and Mexico (+6.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Venezuela (-3.4 p.p.) and Argentina (-27.1 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) remains the largest carbides supplier in Latin America and the Caribbean, comprising 81% of total exports. The second position in the ranking was taken by Mexico ($X), with an 8.2% share of total exports. It was followed by Venezuela, with a 7.5% share.

In Brazil, carbides exports expanded at an average annual rate of +3.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+15.5% per year) and Venezuela (-2.8% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, jumping by 43% against the previous year. Export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carbides export price increased by +68.5% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Carbides Imports

Imports in Latin America and the Caribbean

In 2022, imports of carbides in Latin America and the Caribbean shrank dramatically to X tons, which is down by -16% against the year before. Over the period under review, imports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, carbides imports expanded significantly to $X in 2022. In general, imports continue to indicate a slight contraction. The pace of growth was the most pronounced in 2021 when imports increased by 47% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Mexico represented the major importer of carbides in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was approx. 34% of total imports in 2022. Argentina (X tons) held the second position in the ranking, followed by Brazil (X tons), Peru (X tons), Guatemala (X tons), Colombia (X tons) and Chile (X tons). All these countries together took approx. 48% share of total imports.

Imports into Mexico decreased at an average annual rate of -2.3% from 2012 to 2022. At the same time, Guatemala (+3.0%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +3.0% from 2012-2022. Argentina and Chile experienced a relatively flat trend pattern. By contrast, Brazil (-1.4%), Peru (-5.7%) and Colombia (-10.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico, Argentina, Guatemala and Brazil increased by +5.1, +4.6, +2.7 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest carbides importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), with a combined 68% share of total imports. Peru, Chile, Guatemala and Colombia lagged somewhat behind, together comprising a further 18%.

Among the main importing countries, Guatemala, with a CAGR of +6.1%, recorded the highest growth rate of 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

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 33% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. 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 Brazil ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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