Latin America and the Caribbean: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in Latin America and the Caribbean

The Latin American gravel and crushed stone market was finally on the rise to reach $X in 2021, after three years of decline. In general, consumption, however, continues to indicate a slight curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Gravel And Crushed Stone in Latin America and the Caribbean

In value terms, gravel and crushed stone production expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 21% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Gravel And Crushed Stone

Exports in Latin America and the Caribbean

In 2021, approx. X tons of gravel and crushed stone were exported in Latin America and the Caribbean; with an increase of 41% on the year before. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +9.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.2% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, gravel and crushed stone exports rose sharply to $X in 2021. The total export value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 35%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico dominates exports structure, amounting to X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Jamaica (X tons), comprising a 4.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to gravel and crushed stone exports from Mexico stood at +10.7%. At the same time, Jamaica (+17.3%) displayed positive paces of growth. Moreover, Jamaica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +17.3% from 2012-2021. Mexico (+8.8 p.p.) and Jamaica (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest gravel and crushed stone supplier in Latin America and the Caribbean, comprising 67% of total exports. The second position in the ranking was held by Jamaica ($X), with a 6.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Mexico amounted to +3.2%.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, which is down by -23.1% against the previous year. Overall, the export price showed a pronounced reduction. The pace of growth was the most pronounced in 2013 when the export price increased by 7.5% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 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, amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while Mexico stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-6.7%).

Imports of Gravel And Crushed Stone

Imports in Latin America and the Caribbean

Gravel and crushed stone imports soared to X tons in 2021, rising by 28% on 2020 figures. Total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 68% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, gravel and crushed stone imports surged to $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 29% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Guyana (X tons) represented the main importer of gravel and crushed stone, mixing up 34% of total imports. Mexico (X tons) ranks second in terms of the total imports with an 11% share, followed by Chile (9.1%), Argentina (8%), Cayman Islands (6.7%), Brazil (6.1%) and Bahamas (5%). Aruba (X tons), Trinidad and Tobago (X tons) and Turks and Caicos Islands (X tons) followed a long way behind the leaders.

Guyana was also the fastest-growing in terms of the gravel and crushed stone imports, with a CAGR of +27.0% from 2012 to 2021. At the same time, Mexico (+20.9%), Bahamas (+17.8%), Turks and Caicos Islands (+11.9%), Cayman Islands (+11.6%) and Aruba (+6.2%) displayed positive paces of growth. By contrast, Chile (-2.7%), Brazil (-5.3%), Trinidad and Tobago (-8.1%) and Argentina (-15.3%) illustrated a downward trend over the same period. Guyana (+30 p.p.), Mexico (+8.4 p.p.), Cayman Islands (+3.9 p.p.), Bahamas (+3.7 p.p.), Turks and Caicos Islands (+1.8 p.p.) and Aruba (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Chile, Brazil, Trinidad and Tobago and Argentina saw its share reduced by -4.1%, -5.2%, -5.7% and -32.4% from 2012 to 2021, respectively.

In value terms, Guyana ($X), Chile ($X) and Brazil ($X) were the countries with the highest levels of imports in 2021, together accounting for 54% of total imports.

Guyana, with a CAGR of +25.7%, recorded the highest rates of growth with regard to the value of imports, among 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

The import price in Latin America and the Caribbean stood at $X per ton in 2021, reducing by -8.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the import price increased by 20%. Over the period under review, import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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 Brazil ($X per ton), while Bahamas ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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