Latin America and the Caribbean: Pyrotechnic Articles Market 2024

Pyrotechnic Articles Market Size in Latin America and the Caribbean

The Latin American pyrotechnic articles market reached $X in 2021, with an increase of 1.6% against the previous year. In general, consumption, however, continues to indicate a deep reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Pyrotechnic Articles Production in Latin America and the Caribbean

In value terms, pyrotechnic articles production reduced to $X in 2021 estimated in export price. Overall, production, however, saw a deep downturn. The pace of growth appeared the most rapid in 2020 when the production volume increased by 5.6%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Pyrotechnic Articles Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of signalling flares, rain rockets, fog signals and other pyrotechnic articles decreased by -5% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports, however, saw a strong increase. The growth pace was the most rapid in 2014 when exports increased by 113%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, pyrotechnic articles exports dropped sharply to $X in 2021. Overall, exports saw a drastic downturn. The pace of growth was the most pronounced in 2014 with an increase of 188%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

El Salvador was the main exporter of signalling flares, rain rockets, fog signals and other pyrotechnic articles in Latin America and the Caribbean, with the volume of exports reaching X tons, which was near 68% of total exports in 2021. It was distantly followed by Guatemala (X tons) and Peru (X tons), together committing a 31% share of total exports.

El Salvador was also the fastest-growing in terms of the signalling flares, rain rockets, fog signals and other pyrotechnic articles exports, with a CAGR of +18.1% from 2012 to 2021. At the same time, Guatemala (+16.5%) and Peru (+16.5%) displayed positive paces of growth. From 2012 to 2021, the share of El Salvador, Guatemala and Peru increased by +40, +11 and +5.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, El Salvador ($X) remains the largest pyrotechnic articles supplier in Latin America and the Caribbean, comprising 62% of total exports. The second position in the ranking was taken by Peru ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in El Salvador amounted to +18.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (+13.7% per year) and Guatemala (+13.5% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, which is down by -34.7% against the previous year. Overall, the export price recorded a significant contraction. The most prominent rate of growth was recorded in 2017 when the export price increased by 102% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+0.7%), while the other leaders experienced a decline in the export price figures.

Pyrotechnic Articles Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of signalling flares, rain rockets, fog signals and other pyrotechnic articles were imported in Latin America and the Caribbean; waning by -18.9% compared with 2020 figures. Overall, imports showed a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 41% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, pyrotechnic articles imports surged to $X in 2021. The total import value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Guatemala prevails in imports structure, reaching X tons, which was near 73% of total imports in 2021. It was distantly followed by Mexico (X tons), comprising a 4.7% share of total imports. Chile (X tons), El Salvador (X tons), Panama (X tons), Peru (X tons), Argentina (X tons), Paraguay (X tons) and Brazil (X tons) followed a long way behind the leaders.

Imports into Guatemala decreased at an average annual rate of -9.1% from 2012 to 2021. At the same time, Paraguay (+61.7%), El Salvador (+33.8%), Mexico (+9.7%), Peru (+6.0%), Argentina (+5.6%), Chile (+2.8%) and Brazil (+1.7%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +61.7% from 2012-2021. By contrast, Panama (-2.2%) illustrated a downward trend over the same period. While the share of Mexico (+3.8 p.p.), El Salvador (+3.4 p.p.), Chile (+3 p.p.), Paraguay (+1.9 p.p.), Peru (+1.8 p.p.) and Argentina (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Guatemala (-1.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pyrotechnic articles importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Guatemala ($X), with a combined 53% share of total imports. Peru, Panama, Brazil, Argentina, El Salvador and Paraguay lagged somewhat behind, together accounting for a further 33%.

Among the main importing countries, Paraguay, with a CAGR of +30.4%, saw the highest growth rate of the value of imports, 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 2021, rising by 68% against the previous year. Overall, the import price recorded prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Chile ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+19.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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