Latin America and the Caribbean: Sulphur Market 2024

Sulphur Market Size in Latin America and the Caribbean

The Latin American sulphur market dropped to $X in 2022, declining by -12.1% against the previous year. Over the period under review, consumption recorded a perceptible decrease. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Sulphur Production in Latin America and the Caribbean

In value terms, sulphur production reduced remarkably to $X in 2022 estimated in export price. Over the period under review, production enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 38,380%. As a result, production attained the peak level of $X, and then reduced dramatically in the following year.

Sulphur Exports

Exports in Latin America and the Caribbean

In 2022, exports of sulphur in Latin America and the Caribbean dropped to X tons, reducing by -10.9% compared with the year before. Over the period under review, exports faced a significant decline. The growth pace was the most rapid in 2015 when exports increased by 17% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, sulphur exports skyrocketed to $X in 2022. Overall, exports faced a sharp slump. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Chile (X tons), distantly followed by Nicaragua (X tons), British Virgin Islands (X tons), Venezuela (X tons), Brazil (X tons) and Colombia (X tons) were the largest exporters of sulphur, together achieving 93% of total exports. El Salvador (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of +55.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Brazil ($X) and British Virgin Islands ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 71% of total exports. Nicaragua, Venezuela, El Salvador and Colombia lagged somewhat behind, together accounting for a further 26%.

Nicaragua, with a CAGR of +51.7%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 50% against the previous year. Over the period under review, the export price saw a prominent expansion. The pace of growth was the most pronounced in 2018 an increase of 67% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by British Virgin Islands (+8.1%), while the other leaders experienced more modest paces of growth.

Sulphur Imports

Imports in Latin America and the Caribbean

After two years of growth, overseas purchases of sulphur decreased by -48.1% to X tons in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 64%. As a result, imports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, sulphur imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a pronounced increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil dominates imports structure, amounting to X tons, which was approx. 71% of total imports in 2022. Mexico (X tons) held a 9.4% share (based on physical terms) of total imports, which put it in second place, followed by Chile (8.2%). Argentina (X tons) and Cuba (X tons) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of sulphur. At the same time, Cuba (+86.5%) displayed positive paces of growth. Moreover, Cuba emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +86.5% from 2012-2022. Chile experienced a relatively flat trend pattern. By contrast, Argentina (-2.9%) and Mexico (-4.6%) illustrated a downward trend over the same period. While the share of Brazil (+3.3 p.p.) and Cuba (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported sulphur in Latin America and the Caribbean, comprising 73% of total imports. The second position in the ranking was taken by Mexico ($X), with a 9.6% share of total imports. It was followed by Chile, with an 8.4% share.

In Brazil, sulphur imports expanded at an average annual rate of +5.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+0.6% per year) and Chile (+7.5% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by 288% against the previous year. Over the period under review, the import price saw strong growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Brazil ($X per ton) and Chile ($X per ton), while Argentina ($X per ton) and Cuba ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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