MERCOSUR: Chromates Market 2024

Chromates Market Size in MERCOSUR

In 2022, the MERCOSUR chromates market increased by 32% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +39.9% against 2020 indices. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Chromates Production in MERCOSUR

In value terms, chromates production totaled $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 4.4% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Chromates Exports

Exports in MERCOSUR

In 2022, after two years of growth, there was significant decline in shipments abroad of chromates, dichromates and peroxochromates, when their volume decreased by -88.5% to X tons. In general, exports recorded a significant decrease. The pace of growth was the most pronounced in 2021 with an increase of 68% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, chromates exports contracted dramatically to $X in 2022. Over the period under review, exports recorded a deep downturn. The pace of growth was the most pronounced in 2016 when exports increased by 6.5% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Chile dominates exports structure, accounting for X tons, which was near 92% of total exports in 2022. Colombia (X tons) and Venezuela (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to chromates exports from Chile stood at -5.4%. Venezuela experienced a relatively flat trend pattern. Colombia (-5.8%) illustrated a downward trend over the same period. While the share of Chile (+83 p.p.), Colombia (+3.2 p.p.) and Venezuela (+3.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest chromates supplier in MERCOSUR, comprising 88% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 4.4% share of total exports.

In Chile, chromates exports decreased by an average annual rate of -3.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Venezuela (+5.8% per year) and Colombia (-3.4% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, picking up by 202% against the previous year. Overall, the export price continues to indicate strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+5.8%), while the other leaders experienced more modest paces of growth.

Chromates Imports

Imports in MERCOSUR

In 2022, approx. X tons of chromates, dichromates and peroxochromates were imported in MERCOSUR; which is down by -12.6% compared with the year before. In general, imports saw a mild downturn. The pace of growth appeared the most rapid in 2013 when imports increased by 54% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, chromates imports skyrocketed to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Uruguay (X tons) represented the main importer of chromates, dichromates and peroxochromates, mixing up 56% of total imports. Brazil (X tons) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (15%). Argentina (X tons) followed a long way behind the leaders.

Uruguay experienced a relatively flat trend pattern with regard to volume of imports of chromates, dichromates and peroxochromates. Colombia experienced a relatively flat trend pattern. Brazil (-4.1%) and Argentina (-5.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Uruguay increased by +12 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uruguay ($X) constitutes the largest market for imported chromates, dichromates and peroxochromates in MERCOSUR, comprising 61% of total imports. The second position in the ranking was held by Colombia ($X), with a 14% share of total imports. It was followed by Brazil, with a 13% share.

In Uruguay, chromates imports expanded at an average annual rate of +5.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (+1.5% per year) and Brazil (-6.4% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, rising by 80% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price 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. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform