Latin America and the Caribbean: Market for Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates 2024

Market Size for Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates in Latin America and the Caribbean

After three years of decline, the Latin American market for gravel, pebbles and crushed stone for concrete and road aggregates increased by 11% to $X in 2021. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates in Latin America and the Caribbean

In value terms, production of gravel, pebbles and crushed stone for concrete and road aggregates expanded rapidly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 24%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

Exports in Latin America and the Caribbean

In 2021, exports of gravel, pebbles and crushed stone for concrete and road aggregates in Latin America and the Caribbean skyrocketed to X tons, rising by 21% on 2020. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 28%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, exports of gravel, pebbles and crushed stone for concrete and road aggregates fell to $X in 2021. The total export value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 31% against the previous year. Over the period under review, the exports of hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Mexico (X tons) was the largest exporter of gravel, pebbles and crushed stone for concrete and road aggregates in Latin America and the Caribbean, constituting 95% of total export.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of gravel, pebbles and crushed stone for concrete and road aggregates. Mexico (+7.8 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) also remains the largest gravel, pebbles and crushed stone for concrete and road aggregates supplier in Latin America and the Caribbean.

From 2012 to 2021, the average annual growth rate of value in Mexico amounted to +2.9%.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, with a decrease of -17.9% against the previous year. Over the period under review, the export price, however, continues to indicate measured growth. The growth pace was the most rapid in 2016 when the export price increased by 57%. Over the period under review, the export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Mexico.

From 2012 to 2021, the rate of growth in terms of prices for Mexico amounted to +1.9% per year.

Imports of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

Imports in Latin America and the Caribbean

In 2021, approx. X tons of gravel, pebbles and crushed stone for concrete and road aggregates were imported in Latin America and the Caribbean; surging by 12% compared with the previous year's figure. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +78.5% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 71% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, imports of gravel, pebbles and crushed stone for concrete and road aggregates soared to $X in 2021. Over the period under review, imports saw a slight increase. The most prominent rate of growth was recorded in 2013 with an increase of 51%. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Guyana represented the main importing country with an import of about X tons, which finished at 47% of total imports. Mexico (X tons) ranks second in terms of the total imports with a 12% share, followed by Cayman Islands (9.1%), Bahamas (7%), Aruba (6.7%), Trinidad and Tobago (4.7%) and Turks and Caicos Islands (4.6%).

From 2012 to 2021, average annual rates of growth with regard to gravel, pebbles and crushed stone for concrete and road aggregates imports into Guyana stood at +28.5%. At the same time, Mexico (+31.8%), Bahamas (+17.5%), Turks and Caicos Islands (+11.4%), Cayman Islands (+7.7%) and Aruba (+4.8%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +31.8% from 2012-2021. By contrast, Trinidad and Tobago (-10.5%) illustrated a downward trend over the same period. Guyana (+36 p.p.), Mexico (+9.7 p.p.) and Bahamas (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Aruba and Trinidad and Tobago saw its share reduced by -2.8% and -22.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guyana ($X) constitutes the largest market for imported gravel, pebbles and crushed stone for concrete and road aggregates in Latin America and the Caribbean, comprising 56% of total imports. The second position in the ranking was taken by Aruba ($X), with a 6.6% share of total imports. It was followed by Mexico, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value in Guyana stood at +33.2%. The remaining importing countries recorded the following average annual rates of imports growth: Aruba (+2.0% per year) and Mexico (+13.0% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 5.7% against the previous year. Overall, the import price, however, recorded a deep slump. The pace of growth appeared the most rapid in 2017 an increase of 14% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 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 Guyana ($X per ton), while Bahamas ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turks and Caicos Islands (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :