Latin America and the Caribbean: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Latin America and the Caribbean

The Latin American sulphuric acid market surged to $X in 2022, rising by 34% against the previous year. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +77.4% against 2014 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sulphuric Acid Production in Latin America and the Caribbean

In value terms, sulphuric acid production amounted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 20%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Sulphuric Acid Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of sulphuric acid and oleum increased by 58% to X tons, rising for the fifth consecutive year after two years of decline. In general, exports continue to indicate a measured increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sulphuric acid exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a mild descent. The growth pace was the most rapid in 2018 when exports increased by 105%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico prevails in exports structure, amounting to X tons, which was near 88% of total exports in 2022. It was distantly followed by Peru (X tons), creating a 6% share of total exports. Uruguay (X tons) held a minor share of total exports.

Exports from Mexico increased at an average annual rate of +4.2% from 2012 to 2022. At the same time, Uruguay (+35.4%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +35.4% from 2012-2022. By contrast, Peru (-7.9%) illustrated a downward trend over the same period. While the share of Mexico (+8.9 p.p.) and Uruguay (+3.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Peru (-12.6 p.p.) displayed negative dynamics.

In value terms, the largest sulphuric acid supplying countries in Latin America and the Caribbean were Mexico ($X), Peru ($X) and Uruguay ($X), together comprising 96% of total exports.

In terms of the main exporting countries, Uruguay, with a CAGR of +27.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, falling by -12.8% against the previous year. Overall, the export price recorded a noticeable contraction. The growth pace was the most rapid in 2018 when the export price increased by 38%. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, 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 Peru ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+2.6%), while the other leaders experienced a decline in the export price figures.

Sulphuric Acid Imports

Imports in Latin America and the Caribbean

In 2022, the amount of sulphuric acid and oleum imported in Latin America and the Caribbean surged to X tons, jumping by 104% against the previous year's figure. Over the period under review, imports showed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sulphuric acid imports skyrocketed to $X in 2022. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 136% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

Chile was the major importer of sulphuric acid and oleum in Latin America and the Caribbean, with the volume of imports resulting at X tons, which was approx. 84% of total imports in 2022. It was distantly followed by Brazil (X tons), committing a 13% share of total imports. Argentina (X tons) followed a long way behind the leaders.

Imports into Chile increased at an average annual rate of +9.5% from 2012 to 2022. At the same time, Argentina (+10.5%) and Brazil (+8.6%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.5% from 2012-2022. While the share of Chile (+13 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported sulphuric acid and oleum in Latin America and the Caribbean, comprising 75% of total imports. The second position in the ranking was taken by Brazil ($X), with a 19% share of total imports.

In Chile, sulphuric acid imports expanded at an average annual rate of +7.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+20.1% per year) and Argentina (+19.6% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 10% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 53%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+10.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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