Mexico: Lime Market 2024

Lime Market Size in Mexico

After four years of growth, the Mexican lime market decreased by -6.1% to $X in 2021. The market value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Lime consumption peaked at $X in 2020, and then contracted in the following year.

Lime Production in Mexico

In value terms, lime production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 25%. Over the period under review, production hit record highs at $X in 2020, and then shrank in the following year.

Lime Exports

Exports from Mexico

In 2021, after two years of decline, there was significant growth in shipments abroad of quicklime, slaked lime and hydraulic lime, when their volume increased by 35% to X tons. Overall, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 41%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, lime exports soared to $X in 2021. In general, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 51% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for lime exports from Mexico, with a 52% share of total exports. Moreover, lime exports to the United States exceeded the volume sent to the second major destination, Trinidad and Tobago (X tons), threefold. The third position in this ranking was taken by the Dominican Republic (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (+0.5% per year) and the Dominican Republic (+60.1% per year).

In value terms, the United States ($X) emerged as the key foreign market for quicklime, slaked lime and hydraulic lime exports from Mexico, comprising 44% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a 20% share of total exports. It was followed by Chile, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+93.0% per year) and Chile (+22.9% per year).

Export Prices by Country

The average lime export price stood at $X per ton in 2021, leveling off at the previous year. Over the last nine years, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2018 when the average export price increased by 22%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Cuba ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.

Lime Imports

Imports into Mexico

In 2021, supplies from abroad of quicklime, slaked lime and hydraulic lime was finally on the rise to reach X tons for the first time since 2013, thus ending a seven-year declining trend. Overall, imports, however, continue to indicate a abrupt decrease. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, lime imports surged to $X in 2021. Over the period under review, imports enjoyed a pronounced increase. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest lime supplier to Mexico, accounting for a 54% share of total imports. Moreover, lime imports from the United States exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), sixfold. The third position in this ranking was held by China (X tons), with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (-10.9% per year) and China (+60.4% per year).

In value terms, the largest lime suppliers to Mexico were China ($X), the United States ($X) and Japan ($X), with a combined 63% share of total imports.

In terms of the main suppliers, China, with a CAGR of +84.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average lime import price amounted to $X per ton, picking up by 8.4% against the previous year. Over the period under review, the import price recorded a prominent expansion. The pace of growth appeared the most rapid in 2019 when the average import price increased by 39%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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