Latin America and the Caribbean: Market for Granules, Chippings And Powder Of Monumental Stone 2024

Market Size for Granules, Chippings And Powder Of Monumental Stone in Latin America and the Caribbean

In 2021, the Latin American market for granules, chippings and powder of monumental stone decreased by -3.6% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption recorded a slight slump. The pace of growth appeared the most rapid in 2020 with an increase of 7.7%. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Granules, Chippings And Powder Of Monumental Stone in Latin America and the Caribbean

In value terms, monumental stone granules and powder production declined modestly to $X in 2021 estimated in export price. Overall, production recorded a slight reduction. The pace of growth appeared the most rapid in 2020 with an increase of 6.3% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports in Latin America and the Caribbean

In 2021, approx. X tons of granules, chippings and powder of monumental stone were exported in Latin America and the Caribbean; increasing by 37% compared with 2020 figures. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 74% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, monumental stone granules and powder exports surged to $X in 2021. In general, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 96% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Jamaica was the largest exporting country with an export of around X tons, which resulted at 71% of total exports. Mexico (X tons) ranks second in terms of the total exports with a 16% share, followed by Argentina (10%). Guatemala (X tons) held a relatively small share of total exports.

Exports from Jamaica increased at an average annual rate of +8.6% from 2012 to 2021. At the same time, Guatemala (+45.4%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +45.4% from 2012-2021. By contrast, Mexico (-7.6%) and Argentina (-10.0%) illustrated a downward trend over the same period. Jamaica (+34 p.p.) and Guatemala (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Mexico saw its share reduced by -18.5% and -18.8% from 2012 to 2021, respectively.

In value terms, the largest monumental stone granules and powder supplying countries in Latin America and the Caribbean were Jamaica ($X), Mexico ($X) and Guatemala ($X), together accounting for 87% of total exports.

Among the main exporting countries, Guatemala, with a CAGR of +47.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 42% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.4%. 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 Guatemala ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+15.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in purchases abroad of granules, chippings and powder of monumental stone, when their volume increased by 23% to X tons. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 80%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, monumental stone granules and powder imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 58% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Chile (X tons) and Argentina (X tons) prevails in imports structure, together committing 83% of total imports. It was distantly followed by Trinidad and Tobago (X tons), committing a 6.4% share of total imports. The following importers - Colombia (X tons) and Mexico (X tons) - each accounted for a 6.8% 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 Argentina (with a CAGR of +60.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Argentina ($X) and Colombia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 74% share of total imports.

Argentina, with a CAGR of +39.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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, growing by 2.8% against the previous year. Overall, the import price, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2013 an increase of 31% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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