Latin America and the Caribbean: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in Latin America and the Caribbean

The Latin American zinc ores and concentrates market soared to $X in 2021, rising by 92% against the previous year. In general, consumption recorded a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Zinc Ores And Concentrates in Latin America and the Caribbean

In value terms, zinc ores and concentrates production skyrocketed to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Zinc Ores And Concentrates

Exports in Latin America and the Caribbean

In 2021, shipments abroad of zinc ores and concentrates decreased by -15.7% to X tons, falling for the third consecutive year after three years of growth. In general, exports continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 11%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, zinc ores and concentrates exports soared to $X in 2021. Total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -26.5% against 2018 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 42%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Peru represented the major exporter of zinc ores and concentrates in Latin America and the Caribbean, with the volume of exports resulting at X tons, which was approx. 66% of total exports in 2021. Bolivia (X tons) ranks second in terms of the total exports with a 19% share, followed by Mexico (7.4%). The following exporters - Cuba (X tons) and Chile (X tons) - together made up 6.3% of total exports.

Peru experienced a relatively flat trend pattern with regard to volume of exports of zinc ores and concentrates. At the same time, Cuba (+6.6%) displayed positive paces of growth. Moreover, Cuba emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +6.6% from 2012-2021. By contrast, Chile (-1.3%), Bolivia (-4.9%) and Mexico (-12.4%) illustrated a downward trend over the same period. Peru (+15 p.p.) and Cuba (+2 p.p.) significantly strengthened its position in terms of the total exports, while Bolivia and Mexico saw its share reduced by -4.7% and -11.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest zinc ores and concentrates supplying countries in Latin America and the Caribbean were Peru ($X), Bolivia ($X) and Mexico ($X), together accounting for 94% of total exports. These countries were followed by Cuba and Chile, which together accounted for a further 4.6%.

Among the main exporting countries, Cuba, with a CAGR of +10.2%, recorded 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, with an increase of 47% against the previous year. Export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Bolivia ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+12.7%), while the other leaders experienced more modest paces of growth.

Imports of Zinc Ores And Concentrates

Imports in Latin America and the Caribbean

In 2021, approx. X tons of zinc ores and concentrates were imported in Latin America and the Caribbean; rising by 56% compared with 2020. Overall, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, zinc ores and concentrates imports soared to $X in 2021. Over the period under review, imports continue to indicate a tangible increase. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Brazil represented the main importing country with an import of about X tons, which amounted to 84% of total imports. It was distantly followed by Mexico (X tons), constituting a 12% share of total imports. Peru (X tons) took a little share of total imports.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of zinc ores and concentrates. At the same time, Mexico (+10.8%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.8% from 2012-2021. By contrast, Peru (-5.0%) illustrated a downward trend over the same period. Mexico (+7.3 p.p.) significantly strengthened its position in terms of the total imports, while Peru saw its share reduced by -2.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported zinc ores and concentrates in Latin America and the Caribbean, comprising 81% of total imports. The second position in the ranking was held by Mexico ($X), with a 13% share of total imports.

In Brazil, zinc ores and concentrates imports increased at an average annual rate of +3.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+8.7% per year) and Peru (-6.2% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 8.4% against the previous year. Import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the import price increased by 63% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was Peru ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+3.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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