Latin America and the Caribbean: Silicates Market 2024

Silicates Market Size in Latin America and the Caribbean

In 2021, the Latin American silicates market decreased by -4.3% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption showed a noticeable contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Silicates Production in Latin America and the Caribbean

In value terms, silicates production contracted slightly to $X in 2021 estimated in export price. In general, production saw a perceptible reduction. The pace of growth appeared the most rapid in 2019 with an increase of 12%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Silicates Exports

Exports in Latin America and the Caribbean

In 2021, exports of silicates, commercial alkali metal silicates in Latin America and the Caribbean soared to X tons, jumping by 42% against 2020 figures. In general, exports recorded a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, silicates exports surged to $X in 2021. Overall, exports showed moderate growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil was the largest exporter of silicates, commercial alkali metal silicates in Latin America and the Caribbean, with the volume of exports resulting at X tons, which was approx. 65% of total exports in 2021. It was distantly followed by Colombia (X tons), comprising a 26% share of total exports. The following exporters - Mexico (X tons), the Dominican Republic (X tons) and Peru (X tons) - together made up 6.3% of total exports.

Brazil was also the fastest-growing in terms of the silicates, commercial alkali metal silicates exports, with a CAGR of +27.1% from 2012 to 2021. At the same time, the Dominican Republic (+17.9%) and Colombia (+6.3%) displayed positive paces of growth. By contrast, Mexico (-16.4%) and Peru (-17.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil increased by +52 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest silicates supplier in Latin America and the Caribbean, comprising 62% of total exports. The second position in the ranking was taken by Colombia ($X), with a 26% share of total exports. It was followed by Mexico, with a 3.2% share.

In Brazil, silicates exports increased at an average annual rate of +18.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (+7.4% per year) and Mexico (-18.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, declining by -4.9% against the previous year. Over the period under review, the export price showed a noticeable setback. The pace of growth was the most pronounced in 2013 an increase of 9.3%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, 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 Peru ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Silicates Imports

Imports in Latin America and the Caribbean

In 2021, the amount of silicates, commercial alkali metal silicates imported in Latin America and the Caribbean surged to X tons, growing by 19% compared with the previous year. Overall, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, silicates imports dropped modestly to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 19% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Guatemala (X tons) and the Dominican Republic (X tons) represented the main importers of silicates, commercial alkali metal silicates in Latin America and the Caribbean, together comprising 42% of total imports. Panama (X tons) took a 7.5% share (based on physical terms) of total imports, which put it in second place, followed by Costa Rica (7.4%) and El Salvador (6.8%). Mexico (X tons), Brazil (X tons), Ecuador (X tons), Honduras (X tons), Turks and Caicos Islands (X tons), Bolivia (X tons), Haiti (X tons) and Chile (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turks and Caicos Islands (with a CAGR of +70.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), the Dominican Republic ($X) and Mexico ($X) constituted the countries with the highest levels of imports in 2021, with a combined 47% share of total imports. These countries were followed by Brazil, Panama, Costa Rica, El Salvador, Ecuador, Chile, Bolivia, Honduras, Haiti and Turks and Caicos Islands, which together accounted for a further 40%.

In terms of the main importing countries, Panama, with a CAGR of +43.5%, recorded the highest rates of growth with regard to 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, with a decrease of -16.2% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 15%. As a result, import price reached the peak level of $X per ton, and then shrank sharply in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Turks and Caicos Islands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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