Latin America and the Caribbean: Lime Market 2024

Lime Market Size in Latin America and the Caribbean

In 2021, the Latin American lime market decreased by -2.7% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the market value increased by 6.1%. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Lime Production in Latin America and the Caribbean

In value terms, lime production fell modestly to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 7.1%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Lime Exports

Exports in Latin America and the Caribbean

In 2021, the amount of quicklime, slaked lime and hydraulic lime exported in Latin America and the Caribbean rose significantly to X tons, increasing by 8.2% against 2020 figures. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, lime exports expanded sharply to $X in 2021. Total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -16.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 17%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Argentina was the key exporting country with an export of about X tons, which reached 47% of total exports. Uruguay (X tons) ranks second in terms of the total exports with a 16% share, followed by Colombia (14%), Guatemala (8.1%) and Peru (4.6%). Brazil (X tons) and Mexico (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to lime exports from Argentina stood at -3.0%. At the same time, Colombia (+36.1%), Peru (+28.5%), Brazil (+23.5%) and Uruguay (+21.9%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +36.1% from 2012-2021. Guatemala experienced a relatively flat trend pattern. By contrast, Mexico (-7.6%) illustrated a downward trend over the same period. While the share of Uruguay (+13 p.p.), Colombia (+13 p.p.), Peru (+4 p.p.) and Brazil (+3.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Guatemala (-2.4 p.p.), Mexico (-3.4 p.p.) and Argentina (-27.1 p.p.) displayed negative dynamics.

In value terms, Argentina ($X), Colombia ($X) and Uruguay ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 72% of total exports.

In terms of the main exporting countries, Colombia, with a CAGR of +35.3%, saw 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

The export price in Latin America and the Caribbean stood at $X per ton in 2021, falling by -1.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2017 an increase of 9.1% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+3.4%), while the other leaders experienced more modest paces of growth.

Lime Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of quicklime, slaked lime and hydraulic lime decreased by -7.2% to X tons, falling for the second year in a row after four years of growth. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when imports increased by 11%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, lime imports shrank to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 17%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Chile was the largest importer of quicklime, slaked lime and hydraulic lime in Latin America and the Caribbean, with the volume of imports accounting for X tons, which was near 57% of total imports in 2021. Brazil (X tons) held the second position in the ranking, distantly followed by Panama (X tons). All these countries together held near 22% share of total imports. The following importers - El Salvador (X tons), Nicaragua (X tons), Paraguay (X tons) and Ecuador (X tons) - together made up 11% of total imports.

Chile experienced a relatively flat trend pattern with regard to volume of imports of quicklime, slaked lime and hydraulic lime. At the same time, Panama (+68.4%), Ecuador (+48.9%), Brazil (+21.1%), Paraguay (+17.3%), Nicaragua (+6.5%) and El Salvador (+2.6%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +68.4% from 2012-2021. While the share of Brazil (+12 p.p.), Panama (+7.5 p.p.), Paraguay (+1.7 p.p.) and Ecuador (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Chile (-14.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported quicklime, slaked lime and hydraulic lime in Latin America and the Caribbean, comprising 57% of total imports. The second position in the ranking was taken by Brazil ($X), with a 14% share of total imports. It was followed by Panama, with a 7.8% share.

In Chile, lime imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+20.6% per year) and Panama (+65.2% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by 18%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Nicaragua ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nicaragua (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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