Latin America and the Caribbean: Lignite Market 2024

Lignite Market Size in Latin America and the Caribbean

The Latin American lignite market reached $X in 2022, approximately mirroring the previous year. Over the period under review, consumption, however, recorded a mild decline. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Lignite Production in Latin America and the Caribbean

In value terms, lignite production surged to $X in 2022 estimated in export price. Over the period under review, production recorded a significant increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 1,900%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Lignite Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of lignites decreased by -5.4% to X tons, falling for the second year in a row after three years of growth. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -18.9% against 2020 indices. The growth pace was the most rapid in 2013 when exports increased by 58% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, lignite exports soared to $X in 2022. Overall, exports, however, enjoyed a pronounced increase. The pace of growth was the most pronounced in 2014 when exports increased by 83% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mexico (X tons), Colombia (X tons) and Argentina (X tons) represented roughly 70% of total exports in 2022. Ecuador (X tons) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (9.3%). The Dominican Republic (X tons) and Guatemala (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Argentina (with a CAGR of +18.9%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the largest lignite supplier in Latin America and the Caribbean, comprising 51% of total exports. The second position in the ranking was held by Mexico ($X), with a 14% share of total exports. It was followed by Colombia, with an 11% share.

In Brazil, lignite exports shrank by an average annual rate of -5.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+11.7% per year) and Colombia (-12.3% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 28% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 65%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+15.7%), while the other leaders experienced more modest paces of growth.

Lignite Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of lignites decreased by -16.4% to X tons, falling for the third consecutive year after two years of growth. Overall, imports, however, enjoyed a measured increase. The growth pace was the most rapid in 2015 with an increase of 785% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, lignite imports stood at $X in 2022. Over the period under review, imports, however, continue to indicate a moderate increase. The growth pace was the most rapid in 2013 with an increase of 3,791%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Guyana (X tons) was the largest importer of lignites, committing 55% of total imports. Mexico (X tons) ranks second in terms of the total imports with a 14% share, followed by Brazil (7.4%), Ecuador (5.9%) and Colombia (5.6%). The following importers - Honduras (X tons) and the Dominican Republic (X tons) - together made up 5.9% of total imports.

Guyana was also the fastest-growing in terms of the lignites imports, with a CAGR of +87.3% from 2012 to 2022. At the same time, Honduras (+35.2%), Ecuador (+23.4%) and Brazil (+5.9%) displayed positive paces of growth. The Dominican Republic experienced a relatively flat trend pattern. By contrast, Colombia (-1.8%) and Mexico (-10.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Guyana, Ecuador and Honduras increased by +55, +4.8 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Guyana ($X) and Mexico ($X) were the countries with the highest levels of imports in 2022, with a combined 80% share of total imports.

Guyana, with a CAGR of +83.7%, 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 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by 21% against the previous year. Overall, the import price, however, saw a mild decrease. The most prominent rate of growth was recorded in 2013 when the import price increased by 2,765%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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 ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+13.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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