Uruguay: Cement Market 2024

Cement Market Size in Uruguay

In 2022, the Uruguayan cement market decreased by -4.6% to $X, falling for the third year in a row after two years of growth. The market value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Cement Production in Uruguay

In value terms, cement production rose to $X in 2022 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.1% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 9.3%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Cement Exports

Exports from Uruguay

In 2022, exports of cement from Uruguay surged to X tons, with an increase of 62% compared with the previous year's figure. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 333% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, cement exports surged to $X in 2022. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2015 when exports increased by 364% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Paraguay (X tons) was the main destination for cement exports from Uruguay, accounting for a 100% share of total exports. It was followed by Brazil (X tons), with a 0.3% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Paraguay stood at +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-30.6% per year) and Argentina (-47.2% per year).

In value terms, Paraguay ($X) remains the key foreign market for cement exports from Uruguay, comprising 100% of total exports. The second position in the ranking was held by Brazil ($X), with a 0.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Paraguay stood at +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-31.5% per year) and Argentina (-34.3% per year).

Export Prices by Country

In 2022, the average cement export price amounted to $X per ton, falling by -19.3% against the previous year. In general, the export price continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2014 when the average export price increased by 34%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+24.4%), while the prices for the other major destinations experienced a decline.

Cement Imports

Imports into Uruguay

In 2022, supplies from abroad of cement was finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Overall, imports, however, saw a noticeable contraction. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cement imports soared to $X in 2022. Over the period under review, imports, however, showed a noticeable decline. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Spain (X tons), Argentina (X tons) and Turkey (X tons) were the main suppliers of cement imports to Uruguay, together comprising 75% of total imports. Brazil, Algeria, Portugal and Egypt lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Algeria (with a CAGR of +191.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Spain ($X) and Turkey ($X) appeared to be the largest cement suppliers to Uruguay, together accounting for 83% of total imports. Brazil, Algeria, Portugal and Egypt lagged somewhat behind, together comprising a further 14%.

Among the main suppliers, Algeria, with a CAGR of +278.6%, 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 2022, the average cement import price amounted to $X per ton, rising by 45% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (+29.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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