Latin America and the Caribbean: Borates Market 2024

Borates Market Size in Latin America and the Caribbean

The Latin American borates market skyrocketed to $X in 2022, growing by X% against the previous year. In general, consumption, however, saw a noticeable downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Borates Production in Latin America and the Caribbean

In value terms, borates production totaled $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep setback. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

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Borates Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of borates decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, borates exports surged to $X in 2022. Total exports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Bolivia represented the key exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by Chile (X tons), Argentina (X tons) and Peru (X tons), together mixing up a X% share of total exports. Guatemala (X tons) took a relatively small share of total exports.

Exports from Bolivia increased at an average annual rate of X% from 2012 to 2022. At the same time, Guatemala (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Chile (X%), Peru (X%) and Argentina (X%) illustrated a downward trend over the same period. Bolivia (X p.p.) and Guatemala (X p.p.) significantly strengthened its position in terms of the total exports, while Peru, Chile and Argentina saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Chile ($X), Bolivia ($X) and Argentina ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Peru and Guatemala lagged somewhat behind, together accounting for a further X%.

Guatemala, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced mixed trends in the export price figures.

Borates Imports

Imports in Latin America and the Caribbean

After two years of growth, supplies from abroad of borates decreased by X% to X tons in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, borates imports surged to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

Brazil prevails in imports structure, resulting at X tons, which was near X% of total imports in 2022. Colombia (X tons) ranks second in terms of the total imports with a X% share, followed by Guatemala (X%). Mexico (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to borates imports into Brazil stood at X%. At the same time, Guatemala (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Mexico (X%) illustrated a downward trend over the same period. Brazil (X p.p.) and Guatemala (X p.p.) significantly strengthened its position in terms of the total imports, while Mexico saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported borates in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with an X% share of total imports. It was followed by Colombia, with an X% share.

In Brazil, borates imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Colombia (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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