Latin America and the Caribbean: Pyrites Market 2024

Pyrites Market Size in Latin America and the Caribbean

The Latin American pyrites market skyrocketed to $X in 2022, jumping by 22% against the previous year. Over the period under review, consumption, however, showed a slight descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Pyrites Production in Latin America and the Caribbean

In value terms, pyrites production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 when the production volume increased by 26%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Pyrites Exports

Exports in Latin America and the Caribbean

In 2022, exports of pyrites in Latin America and the Caribbean soared to X tons, jumping by 506% against the previous year's figure. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 6,854%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, pyrites exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 858% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Peru prevails in exports structure, accounting for X tons, which was approx. 90% of total exports in 2022. It was distantly followed by Ecuador (X tons), creating a 6.9% share of total exports. Brazil (X tons) followed a long way behind the leaders.

Exports from Peru increased at an average annual rate of +43.2% from 2012 to 2022. At the same time, Ecuador (+54.1%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +54.1% from 2012-2022. By contrast, Brazil (-6.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Peru and Ecuador increased by +66 and +6 percentage points, respectively.

In value terms, Peru ($X) remains the largest pyrites supplier in Latin America and the Caribbean, comprising 89% of total exports. The second position in the ranking was held by Ecuador ($X), with a 6.4% share of total exports.

In Peru, pyrites exports expanded at an average annual rate of +31.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ecuador (+45.8% per year) and Brazil (-1.5% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, reducing by -12.5% against the previous year. Overall, the export price recorded a pronounced decrease. The most prominent rate of growth was recorded in 2017 an increase of 496% 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.

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 (+5.6%), while the other leaders experienced a decline in the export price figures.

Pyrites Imports

Imports in Latin America and the Caribbean

After five years of growth, purchases abroad of pyrites decreased by -7.6% to X tons in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 29%. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, pyrites imports stood at $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.5% 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 +92.8% against 2014 indices. The growth pace was the most rapid in 2018 when imports increased by 28% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

In 2022, Brazil (X tons) and Mexico (X tons) were the major importers of pyrites in Latin America and the Caribbean, together amounting to near 67% of total imports. It was distantly followed by Argentina (X tons), the Dominican Republic (X tons) and Colombia (X tons), together committing a 26% share of total imports. Venezuela (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Colombia (with a CAGR of +32.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pyrites importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), together accounting for 86% of total imports. Colombia, Venezuela and the Dominican Republic lagged somewhat behind, together comprising a further 7.9%.

Colombia, with a CAGR of +25.7%, saw 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, increasing by 8.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2018 when the import price increased by 9%. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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