MERCOSUR: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in MERCOSUR

After four years of decline, the MERCOSUR iron oxide pigment market increased by 2.9% to $X in 2021. Overall, consumption recorded a noticeable contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Iron Oxide Pigment Production in MERCOSUR

In value terms, iron oxide pigment production expanded modestly to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -20.4% against 2015 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 76%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Iron Oxide Pigment Exports

Exports in MERCOSUR

After two years of growth, overseas shipments of iron oxide pigments decreased by -2.7% to X tons in 2021. Over the period under review, exports recorded a deep reduction. The pace of growth was the most pronounced in 2016 when exports increased by 7.2% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, iron oxide pigment exports rose sharply to $X in 2021. In general, exports recorded a perceptible descent. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil represented the key exporting country with an export of around X tons, which amounted to 81% of total exports. It was distantly followed by Colombia (X tons), generating a 19% share of total exports.

Exports from Brazil decreased at an average annual rate of -19.2% from 2012 to 2021. Colombia (-2.5%) illustrated a downward trend over the same period. Colombia (+15 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -13.3% from 2012 to 2021, respectively.

In value terms, Brazil ($X) remains the largest iron oxide pigment supplier in MERCOSUR, comprising 74% of total exports. The second position in the ranking was held by Colombia ($X), with a 26% share of total exports.

In Brazil, iron oxide pigment exports plunged by an average annual rate of -2.4% over the period from 2012-2021.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, picking up by 10% against the previous year. Over the period under review, the export price recorded prominent growth. The growth pace was the most rapid in 2013 an increase of 372% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Brazil amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+20.8%).

Iron Oxide Pigment Imports

Imports in MERCOSUR

In 2021, the amount of iron oxide pigments imported in MERCOSUR skyrocketed to X tons, growing by 31% compared with 2020 figures. Overall, imports, however, showed a pronounced decrease. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, iron oxide pigment imports skyrocketed to $X in 2021. In general, imports, however, showed a mild decrease. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X tons) was the key importer of iron oxide pigments, mixing up 33% of total imports. It was distantly followed by Chile (X tons), Argentina (X tons), Peru (X tons), Colombia (X tons) and Ecuador (X tons), together mixing up a 61% share of total imports. Uruguay (X tons) held a little share of total imports.

Imports into Brazil decreased at an average annual rate of -3.1% from 2012 to 2021. At the same time, Argentina (+8.7%), Chile (+2.4%) and Uruguay (+1.7%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +8.7% from 2012-2021. By contrast, Peru (-2.0%), Colombia (-3.1%) and Ecuador (-6.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Argentina and Chile increased by +8.5 and +5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported iron oxide pigments in MERCOSUR, comprising 36% of total imports. The second position in the ranking was taken by Chile ($X), with a 16% share of total imports. It was followed by Argentina, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil stood at -3.9%. In the other countries, the average annual rates were as follows: Chile (+3.7% per year) and Argentina (+6.4% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, surging by 15% against the previous year. Overall, the import price recorded a modest expansion. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform