Venezuela: Market for Refractory Products of Siliceous or Diatomite Earths 2024

Market Size for Refractory Products of Siliceous or Diatomite Earths in Venezuela

The Venezuelan market for refractory products of siliceous or diatomite earths expanded rapidly to $X in 2021, increasing by 7.5% against the previous year. In general, consumption, however, continues to indicate a mild shrinkage. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Refractory Products of Siliceous or Diatomite Earths in Venezuela

In value terms, production of refractory products of siliceous or diatomite earths expanded markedly to $X in 2021 estimated in export price. Overall, production enjoyed a pronounced expansion. The growth pace was the most rapid in 2018 when the production volume increased by 88%. Production of peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Refractory Products of Siliceous or Diatomite Earths

Exports from Venezuela

In 2021, shipments abroad of refractory products of siliceous or diatomite earths decreased by 0% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2018 with an increase of 4,732% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of refractory products of siliceous or diatomite earths amounted to $X in 2021. Overall, exports continue to indicate a mild expansion. The pace of growth was the most pronounced in 2018 when exports increased by 2,417% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for exports of refractory products of siliceous or diatomite earths from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -8.3%.

In value terms, the United States ($X) also remains the key foreign market for refractory products of siliceous or diatomite earths exports from Venezuela.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +1.9%.

Export Prices by Country

The average export price for refractory products of siliceous or diatomite earths stood at $X per ton in 2021, remaining stable against the previous year. In general, the export price enjoyed a strong increase. The pace of growth was the most pronounced in 2017 when the average export price increased by 120%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +11.1% per year.

Imports of Refractory Products of Siliceous or Diatomite Earths

Imports into Venezuela

In 2021, overseas purchases of refractory products of siliceous or diatomite earths increased by 5.7% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, continue to indicate a dramatic descent. The most prominent rate of growth was recorded in 2017 when imports increased by 1,142%. Over the period under review, imports of reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of refractory products of siliceous or diatomite earths stood at $X in 2021. In general, imports, however, faced a sharp decline. The growth pace was the most rapid in 2017 when imports increased by 1,083%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, France (X tons) constituted the largest refractory products of siliceous or diatomite earths supplier to Venezuela, with a 43% share of total imports. Moreover, imports of refractory products of siliceous or diatomite earths from France exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was held by the Netherlands (X tons), with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume from France stood at +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-23.4% per year) and the Netherlands (-19.3% per year).

In value terms, the largest refractory products of siliceous or diatomite earths suppliers to Venezuela were the Netherlands ($X), France ($X) and the United States ($X), with a combined 55% share of total imports.

In terms of the main suppliers, France, with a CAGR of -2.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for refractory products of siliceous or diatomite earths stood at $X per ton in 2021, rising by 3.5% against the previous year. Over the period under review, the import price enjoyed resilient growth. The growth pace was the most rapid in 2020 when the average import price increased by 59% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Spain ($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 (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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