MERCOSUR: Sulphur Market 2024

Sulphur Market Size in MERCOSUR

The MERCOSUR sulphur market contracted to $X in 2022, with a decrease of -12% against the previous year. Over the period under review, consumption saw a perceptible reduction. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Sulphur Production in MERCOSUR

In value terms, sulphur production dropped notably to $X in 2022 estimated in export price. In general, production recorded a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 43,530% against the previous year. As a result, production attained the peak level of $X, and then dropped remarkably in the following year.

Sulphur Exports

Exports in MERCOSUR

In 2022, the amount of sulphur exported in MERCOSUR reduced to X tons, which is down by -7.3% against 2021. In general, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2020 when exports increased by 20%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sulphur exports surged to $X in 2022. Overall, exports faced a abrupt downturn. The pace of growth was the most pronounced in 2021 when exports increased by 29% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Chile (X tons) represented the largest exporter of sulphur, constituting 48% of total exports. It was distantly followed by Venezuela (X tons), Brazil (X tons) and Colombia (X tons), together constituting a 49% share of total exports. Peru (X tons) followed a long way behind the leaders.

Exports from Chile decreased at an average annual rate of -4.5% from 2012 to 2022. At the same time, Brazil (+13.5%) and Peru (+7.0%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +13.5% from 2012-2022. By contrast, Colombia (-2.1%) and Venezuela (-34.2%) illustrated a downward trend over the same period. While the share of Chile (+43 p.p.), Brazil (+19 p.p.), Colombia (+8 p.p.) and Peru (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Venezuela (-72.7 p.p.) displayed negative dynamics.

In value terms, the largest sulphur supplying countries in MERCOSUR were Chile ($X), Brazil ($X) and Venezuela ($X), with a combined 94% share of total exports.

Brazil, with a CAGR of +14.2%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, surging by 38% against the previous year. In general, the export price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 an increase of 93% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Colombia ($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 (+1.2%), while the other leaders experienced more modest paces of growth.

Sulphur Imports

Imports in MERCOSUR

After two years of growth, overseas purchases of sulphur decreased by -49.6% to X tons in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 78% against the previous year. As a result, imports attained the peak of X tons, and then dropped rapidly in the following year.

In value terms, sulphur imports soared to $X in 2022. In general, imports, however, recorded a tangible expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil prevails in imports structure, accounting for X tons, which was approx. 83% of total imports in 2022. It was distantly followed by Chile (X tons), constituting a 9.6% share of total imports. The following importers - Argentina (X tons) and Uruguay (X tons) - together made up 6.2% of total imports.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of sulphur. At the same time, Uruguay (+2.6%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +2.6% from 2012-2022. Chile experienced a relatively flat trend pattern. By contrast, Argentina (-2.9%) illustrated a downward trend over the same period. Brazil (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported sulphur in MERCOSUR, comprising 85% of total imports. The second position in the ranking was held by Chile ($X), with a 9.8% share of total imports. It was followed by Argentina, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at +5.1%. In the other countries, the average annual rates were as follows: Chile (+7.5% per year) and Argentina (-2.1% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, picking up by 305% against the previous year. In general, the import price saw a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Brazil ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform