Latin America and the Caribbean: Sulphur Market 2024

Sulphur Market Size in Latin America and the Caribbean

In 2021, the Latin American sulphur market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, continues to indicate a mild decline. The pace of growth was the most pronounced in 2017 when the market value increased by 7.2%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sulphur Production in Latin America and the Caribbean

In value terms, sulphur production reached $X in 2021 estimated in export price. Overall, production, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 6.7% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Sulphur Exports

Exports in Latin America and the Caribbean

In 2021, exports of sulphur (sublimed or precipitated) and colloidal sulphur in Latin America and the Caribbean reduced notably to X tons, which is down by -19% against the year before. Overall, exports faced a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 68% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, sulphur exports dropped sharply to $X in 2021. Over the period under review, exports faced a sharp slump. The pace of growth appeared the most rapid in 2017 when exports increased by 85%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay was the main exporter of sulphur (sublimed or precipitated) and colloidal sulphur in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was near 49% of total exports in 2021. Brazil (X tons) took the second position in the ranking, distantly followed by Trinidad and Tobago (X tons). All these countries together held approx. 35% share of total exports. The following exporters - Colombia (X tons), Peru (X tons), Guatemala (X tons) and Chile (X tons) - together made up 14% of total exports.

Paraguay experienced a relatively flat trend pattern with regard to volume of exports of sulphur (sublimed or precipitated) and colloidal sulphur. At the same time, Peru (+72.5%), Brazil (+27.3%), Guatemala (+19.2%) and Colombia (+15.3%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +72.5% from 2012-2021. By contrast, Chile (-19.2%) and Trinidad and Tobago (-33.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Paraguay, Brazil, Peru, Colombia and Guatemala increased by +49, +21, +4.2, +4.2 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Paraguay ($X), Brazil ($X) and Trinidad and Tobago ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 73% share of total exports. Colombia, Peru, Chile and Guatemala lagged somewhat behind, together comprising a further 19%.

Among the main exporting countries, Peru, with a CAGR of +75.7%, saw the highest rates of growth with regard to 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, which is down by -34.2% against the previous year. In general, the export price showed a abrupt decline. The growth pace was the most rapid in 2016 when the export price increased by 14%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Chile ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+1.9%), while the other leaders experienced a decline in the export price figures.

Sulphur Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of sulphur (sublimed or precipitated) and colloidal sulphur was finally on the rise to reach X tons after two years of decline. In general, imports saw resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sulphur imports soared to $X in 2021. Overall, imports, however, showed a pronounced curtailment. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Cuba (X tons) was the key importer of sulphur (sublimed or precipitated) and colloidal sulphur in Latin America and the Caribbean, achieving 99% of total import.

Cuba was also the fastest-growing in terms of the sulphur (sublimed or precipitated) and colloidal sulphur imports, with a CAGR of +5.5% from 2012 to 2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Cuba ($X) constitutes the largest market for imported sulphur (sublimed or precipitated) and colloidal sulphur in Latin America and the Caribbean.

From 2012 to 2021, the average annual growth rate of value in Cuba amounted to -3.1%.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, declining by -5.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2020 when the import price increased by 2.5% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Cuba.

From 2012 to 2021, the rate of growth in terms of prices for Cuba amounted to -8.1% per year.

Source: IndexBox Platform

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