Peru: Fuse And Detonator Market 2024

Fuse And Detonator Market Size in Peru

In 2021, the Peruvian fuse and detonator market decreased by -20.4% to $X, falling for the third year in a row after two years of growth. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -33.5% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Fuse And Detonator Production in Peru

In value terms, fuse and detonator production declined to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a strong increase. The growth pace was the most rapid in 2014 when the production volume increased by 84%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Fuse And Detonator Exports

Exports from Peru

In 2021, the amount of safety fuses, detonating fuses and electric detonators exported from Peru skyrocketed to X tons, jumping by 18% on the previous year's figure. Over the period under review, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 66%. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, fuse and detonator exports soared to $X in 2021. In general, total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +110.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), Ecuador (X tons) and Chile (X tons) were the main destinations of fuse and detonator exports from Peru, with a combined 72% share of total exports. These countries were followed by South Africa, Nicaragua, Panama, Colombia, Bolivia, Costa Rica and Zimbabwe, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for South Africa (with a CAGR of +26.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), South Africa ($X) and Chile ($X) were the largest markets for fuse and detonator exported from Peru worldwide, together accounting for 63% of total exports.

Among the main countries of destination, South Africa, with a CAGR of +18.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average fuse and detonator export price amounted to $X per ton, surging by 24% against the previous year. In general, the export price, however, recorded a abrupt setback. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Panama ($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 Nicaragua (+39.3%), while the prices for the other major destinations experienced more modest paces of growth.

Fuse And Detonator Imports

Imports into Peru

In 2021, approx. X tons of safety fuses, detonating fuses and electric detonators were imported into Peru; increasing by 53% on the previous year. In general, imports, however, saw a relatively flat trend pattern. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, fuse and detonator imports surged to $X in 2021. Overall, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.9% against 2019 indices. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Canada (X tons), Bolivia (X tons) and Chile (X tons) were the main suppliers of fuse and detonator imports to Peru, with a combined 89% share of total imports. These countries were followed by France, India, China, South Africa and Brazil, which together accounted for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +32.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) constituted the largest supplier of safety fuses, detonating fuses and electric detonators to Peru, comprising 57% of total imports. The second position in the ranking was held by Chile ($X), with a 13% share of total imports. It was followed by Bolivia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Canada stood at +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (-0.9% per year) and Bolivia (+10.3% per year).

Import Prices by Country

The average fuse and detonator import price stood at $X per ton in 2021, with a decrease of -9.1% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fuse and detonator import price decreased by -30.9% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 31% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+27.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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