Latin America and the Caribbean: Zinc Market 2025

Zinc Market Size in Latin America and the Caribbean

The Latin American zinc market reached $X in 2022, flattening at the previous year. In general, consumption continues to indicate a resilient expansion. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Zinc Production in Latin America and the Caribbean

In value terms, zinc production totaled $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.1% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 37% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Zinc Exports

Exports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded decline in overseas shipments of zinc, unwrought (not alloyed), which decreased by -2.5% to X tons in 2022. Over the period under review, exports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 28% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, zinc exports surged to $X in 2022. Total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 54% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Peru (X tons) represented the main exporter of zinc, unwrought (not alloyed), creating 64% of total exports. Brazil (X tons) held the second position in the ranking, followed by Mexico (X tons). All these countries together held approx. 36% share of total exports.

Exports from Peru decreased at an average annual rate of -1.9% from 2012 to 2022. At the same time, Brazil (+1.6%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +1.6% from 2012-2022. By contrast, Mexico (-11.9%) illustrated a downward trend over the same period. Peru (+13 p.p.) and Brazil (+9 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -20.4% from 2012 to 2022, respectively.

In value terms, Peru ($X) remains the largest zinc supplier in Latin America and the Caribbean, comprising 66% of total exports. The second position in the ranking was taken by Brazil ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Peru amounted to +5.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+8.0% per year) and Mexico (-7.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 21% against the previous year. Export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc export price increased by +55.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 48%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Brazil ($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 (+7.1%), while the other leaders experienced more modest paces of growth.

Zinc Imports

Imports in Latin America and the Caribbean

In 2022, imports of zinc, unwrought (not alloyed) in Latin America and the Caribbean contracted to X tons, shrinking by -12.4% against the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 32%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, zinc imports rose to $X in 2022. In general, imports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 63%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

In 2022, Brazil (X tons) represented the largest importer of zinc, unwrought (not alloyed), making up 38% of total imports. Argentina (X tons) ranks second in terms of the total imports with a 22% share, followed by Colombia (13%) and Chile (5.7%). Mexico (X tons), Guatemala (X tons), Ecuador (X tons), Costa Rica (X tons) and Venezuela (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Argentina (with a CAGR of +16.8%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Brazil ($X), Argentina ($X) and Colombia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 74% share of total imports.

Argentina, with a CAGR of +24.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 19% against the previous year. Import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc import price increased by +46.5% against 2020 indices. The pace of growth was the most pronounced in 2017 when the import price increased by 33% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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