Uruguay: Lithium Battery Market 2024

Lithium Battery Market Size in Uruguay

In 2021, after two years of growth, there was significant decline in the Uruguayan lithium battery market, when its value decreased by -48% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Lithium Battery Exports

Exports from Uruguay

In 2021, shipments abroad of lithium cells ans batteries decreased by -92.9% to X kg, falling for the second year in a row after five years of growth. Over the period under review, exports continue to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 337%. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, lithium battery exports fell notably to $X in 2021. In general, exports continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2015 with an increase of 414% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil (X kg), France (X kg) and the United States (X kg) were the main destinations of lithium battery exports from Uruguay, with a combined 83% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, the United States ($X) emerged as the key foreign market for lithium cells ans batteries exports from Uruguay, comprising 86% of total exports. The second position in the ranking was taken by Paraguay ($X), with a 6.2% share of total exports. It was followed by Brazil, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -42.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-54.8% per year) and Brazil (-48.9% per year).

Export Prices by Country

The average lithium battery export price stood at $X per ton in 2021, waning by -39.5% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 an increase of 119%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to France ($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 United States (+8.7%), while the prices for the other major destinations experienced mixed trend patterns.

Lithium Battery Imports

Imports into Uruguay

In 2021, purchases abroad of lithium cells ans batteries decreased by -29.9% to X tons, falling for the sixth consecutive year after two years of growth. Over the period under review, imports, however, saw tangible growth. The pace of growth was the most pronounced in 2015 with an increase of 307% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, lithium battery imports shrank significantly to $X in 2021. In general, imports showed a noticeable reduction. The pace of growth appeared the most rapid in 2015 when imports increased by 289%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest lithium battery supplier to Uruguay, accounting for a 65% share of total imports. Moreover, lithium battery imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), fivefold. Hong Kong SAR (X kg) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+13.4% per year) and Hong Kong SAR (+2.4% per year).

In value terms, Canada ($X), the United States ($X) and China ($X) were the largest lithium battery suppliers to Uruguay, together accounting for 72% of total imports. Hong Kong SAR, Ireland, Japan and Singapore lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, Ireland, with a CAGR of +33.6%, recorded 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 lithium battery import price amounted to $X per ton, declining by -43% against the previous year. Overall, the import price saw a abrupt contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 18% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform