Latin America and the Caribbean: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Latin America and the Caribbean

The Latin American natural stone sett market amounted to $X in 2022, surging by 4.9% against the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Natural Stone Sett Production in Latin America and the Caribbean

In value terms, natural stone sett production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by 22%. Over the period under review, production attained the peak level in 2022 and is likely to see steady growth in years to come.

Natural Stone Sett Exports

Exports in Latin America and the Caribbean

In 2022, the amount of natural stone setts, kerbstones and flagstones exported in Latin America and the Caribbean fell remarkably to X tons, reducing by -17.4% against 2021. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 4.8% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, natural stone sett exports shrank to $X in 2022. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 15% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil was the key exporting country with an export of about X tons, which reached 61% of total exports. The Dominican Republic (X tons) held the second position in the ranking, distantly followed by Ecuador (X tons). All these countries together held near 29% share of total exports. The following exporters - Mexico (X tons) and Peru (X tons) - together made up 6.3% of total exports.

Exports from Brazil decreased at an average annual rate of -13.7% from 2012 to 2022. At the same time, Peru (+53.1%), Ecuador (+15.7%) and the Dominican Republic (+5.2%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +53.1% from 2012-2022. By contrast, Mexico (-3.0%) illustrated a downward trend over the same period. The Dominican Republic (+15 p.p.), Ecuador (+9.5 p.p.), Peru (+2.7 p.p.) and Mexico (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -20.1% from 2012 to 2022, respectively.

In value terms, Brazil ($X), the Dominican Republic ($X) and Mexico ($X) were the countries with the highest levels of exports in 2022, with a combined 92% share of total exports. Peru and Ecuador lagged somewhat behind, together accounting for a further 6.6%.

In terms of the main exporting countries, Peru, with a CAGR of +63.1%, 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 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 6% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 9.8% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+6.5%), while the other leaders experienced more modest paces of growth.

Natural Stone Sett Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of natural stone setts, kerbstones and flagstones decreased by -14% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, imports saw a pronounced contraction. The growth pace was the most rapid in 2015 with an increase of 42%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, natural stone sett imports contracted dramatically to $X in 2022. Total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -29.5% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by 21% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Curacao (X tons), Bahamas (X tons), Argentina (X tons), Cuba (X tons), Colombia (X tons), Costa Rica (X tons), Chile (X tons), Panama (X tons), Honduras (X tons), Saint Maarten (Dutch part) (X tons), Mexico (X tons) and Venezuela (X tons) was the major importer of natural stone setts, kerbstones and flagstones in Latin America and the Caribbean, achieving 78% of total import. The Dominican Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bahamas (with a CAGR of +29.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Cuba ($X) and Bahamas ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 37% of total imports.

Bahamas, with a CAGR of +26.3%, recorded the highest growth rate of 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 2022, declining by -7.7% against the previous year. Import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the import price increased by 38% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2021, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+13.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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