MERCOSUR: Tantalum Market 2024

Tantalum Market Size in MERCOSUR

The MERCOSUR tantalum market shrank slightly to $X in 2022, which is down by -2.2% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Tantalum Production in MERCOSUR

In value terms, tantalum production fell slightly to $X in 2022 estimated in export price. The total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.6% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 37%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Tantalum Exports

Exports in MERCOSUR

Tantalum exports declined notably to X kg in 2022, reducing by -80% on 2021 figures. In general, exports saw a precipitous curtailment. The pace of growth was the most pronounced in 2015 with an increase of 147% against the previous year. As a result, the exports attained the peak of X kg. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, tantalum exports contracted remarkably to $X in 2022. Over the period under review, exports continue to indicate a precipitous setback. The growth pace was the most rapid in 2015 when exports increased by 150% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of tantalum, namely Brazil, represented more than two-thirds of total export.

Brazil was also the fastest-growing in terms of the tantalum exports, with a CAGR of -26.6% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) also remains the largest tantalum supplier in MERCOSUR.

From 2012 to 2022, the average annual growth rate of value in Brazil totaled -24.1%.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, shrinking by -22.6% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2017 figures, tantalum export price increased by +38.7% against 2012 indices. The growth pace was the most rapid in 2016 when the export price increased by 67%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Brazil.

From 2012 to 2022, the rate of growth in terms of prices for Brazil amounted to +3.3% per year.

Tantalum Imports

Imports in MERCOSUR

In 2022, after two years of growth, there was significant decline in supplies from abroad of tantalum, when their volume decreased by -15.6% to X kg. Over the period under review, imports showed a abrupt setback. The growth pace was the most rapid in 2021 when imports increased by 256% against the previous year. The volume of import peaked at X kg in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, tantalum imports dropped dramatically to $X in 2022. In general, imports faced a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 177%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Brazil was the main importing country with an import of about X kg, which amounted to 78% of total imports. It was distantly followed by Chile (X kg), constituting a 19% share of total imports. Uruguay (X kg) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to tantalum imports into Brazil stood at -9.7%. At the same time, Chile (+9.6%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +9.6% from 2012-2022. Uruguay experienced a relatively flat trend pattern. While the share of Brazil (+47 p.p.), Chile (+17 p.p.) and Uruguay (+3.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Chile ($X) and Uruguay ($X) were the countries with the highest levels of imports in 2022, with a combined 73% share of total imports.

Chile, with a CAGR of +32.4%, recorded 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 mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, shrinking by -15.1% against the previous year. Over the period under review, the import price, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 when the import price increased by 82%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Chile ($X per ton), while Uruguay ($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 (+20.8%).

Source: IndexBox Platform