Latin America and the Caribbean: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in Latin America and the Caribbean

The Latin American primary cell and battery market contracted modestly to $X in 2022, remaining relatively unchanged against the previous year. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.6% against 2020 indices. The level of consumption peaked at $X in 2021, and then reduced slightly in the following year.

Production of Primary Cells and Batteries in Latin America and the Caribbean

In value terms, primary cell and battery production reduced slightly to $X in 2022 estimated in export price. The total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 58% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Primary Cells and Batteries

Exports in Latin America and the Caribbean

In 2022, shipments abroad of primary cells and batteries decreased by -0.2% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports showed a pronounced decline. The most prominent rate of growth was recorded in 2017 when exports increased by 38%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, primary cell and battery exports soared to $X in 2022. In general, exports saw a perceptible decrease. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil was the main exporter of primary cells and batteries in Latin America and the Caribbean, with the volume of exports reaching X units, which was approx. 42% of total exports in 2022. Costa Rica (X units) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Guatemala (14%), Chile (6.4%), the Dominican Republic (6.1%) and Peru (4.8%). Mexico (X units) held a little share of total exports.

Exports from Brazil increased at an average annual rate of +2.9% from 2012 to 2022. At the same time, Chile (+33.4%), the Dominican Republic (+11.6%) and Costa Rica (+5.5%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +33.4% from 2012-2022. By contrast, Mexico (-2.0%), Guatemala (-5.6%) and Peru (-11.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Costa Rica, Chile and the Dominican Republic increased by +16, +11, +6.1 and +4.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest primary cell and battery supplier in Latin America and the Caribbean, comprising 39% of total exports. The second position in the ranking was held by Brazil ($X), with a 17% share of total exports. It was followed by Chile, with a 16% share.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at +4.7%. In the other countries, the average annual rates were as follows: Brazil (+4.9% per year) and Chile (+13.0% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, picking up by 33% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per unit in 2013; however, from 2014 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 Mexico ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+11.2%), while the other leaders experienced more modest paces of growth.

Imports of Primary Cells and Batteries

Imports in Latin America and the Caribbean

In 2022, after three years of growth, there was significant decline in overseas purchases of primary cells and batteries, when their volume decreased by -10.8% to X units. Total imports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.8% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. As a result, imports reached the peak of X units, and then declined in the following year.

In value terms, primary cell and battery imports rose slightly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 14%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

The purchases of the four major importers of primary cells and batteries, namely Brazil, El Salvador, Mexico and Argentina, represented more than half of total import. Peru (X units) held the next position in the ranking, followed by Colombia (X units) and Chile (X units). All these countries together took approx. 18% share of total imports.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of +22.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported primary cells and batteries in Latin America and the Caribbean, comprising 45% of total imports. The second position in the ranking was taken by Brazil ($X), with a 13% share of total imports. It was followed by Argentina, with a 6.8% share.

In Mexico, primary cell and battery imports expanded at an average annual rate of +3.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-1.2% per year) and Argentina (-1.6% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, surging by 18% against the previous year. Over the period under review, the import price, however, continues to indicate a mild setback. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per unit), while El Salvador (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+2.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform