Latin America and the Caribbean's Bromides and Iodides Market Set to Reach 59K Tons and $938M by 2035

IndexBox has just published a new report: Latin America and the Caribbean - Bromides And Bromide Oxides, Iodides And Iodide Oxides - Market Analysis, Forecast, Size, Trends And Insights.

The Latin America and Caribbean market for bromides, iodides, and their oxides is projected to grow to 59K tons and $938M by 2035, driven by rising demand. In 2024, consumption surged to 51K tons ($801M), led by Guyana, Brazil, and Venezuela. While regional production declined to 23K tons, imports soared to 30K tons, with Guyana as the dominant importer. Brazil is the largest producer and exporter, though Chile leads in export value. Significant price disparities exist between import and export markets.

Key Findings

• Market forecast to reach 59K tons and $938M by 2035, continuing an upward trend
• Guyana experienced explosive consumption and import growth, with a per capita consumption of 23 kg
• Regional production is declining, creating a supply gap filled by surging imports
• Brazil is the leading producer and volume exporter, but Chile commands the highest export value
• Major price gap exists between low-cost imports ($2,593/ton avg) and high-value exports ($29,850/ton avg)

Market Forecast

Driven by increasing demand for bromides and bromide oxides, iodides and iodide oxides in Latin America and the Caribbean, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.5% for the period from 2024 to 2035, which is projected to bring the market volume to 59K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.5% for the period from 2024 to 2035, which is projected to bring the market value to $938M (in nominal wholesale prices) by the end of 2035.

Consumption

Latin America and the Caribbean's Consumption of Bromides And Bromide Oxides, Iodides And Iodide Oxides

In 2024, consumption of bromides and bromide oxides, iodides and iodide oxides increased by 14% to 51K tons, rising for the second year in a row after three years of decline. The total consumption volume increased at an average annual rate of +2.9% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, consumption reached the maximum volume in 2024 and is expected to retain growth in the immediate term.

The revenue of the market for bromides and bromide oxides, iodides and iodide oxides in Latin America and the Caribbean expanded notably to $801M in 2024, surging by 9.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.2% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2024 and is likely to continue growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were Guyana (18K tons), Brazil (17K tons) and Venezuela (4.2K tons), together accounting for 79% of total consumption.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Guyana (with a CAGR of +180.3%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest bromides, iodides and oxids thereof markets in Latin America and the Caribbean were Brazil ($257M), Guyana ($143M) and Chile ($126M), together comprising 66% of the total market.

Guyana, with a CAGR of +176.6%, saw the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other leaders experienced more modest paces of growth.

In 2024, the highest levels of bromides, iodides and oxids thereof per capita consumption was registered in Guyana (23 kg per person), followed by Trinidad and Tobago (1.3 kg per person), Chile (0.1 kg per person) and Venezuela (0.1 kg per person), while the world average per capita consumption of bromides, iodides and oxids thereof was estimated at 0.1 kg per person.

In Guyana, bromides, iodides and oxids thereof per capita consumption increased at an average annual rate of +179.0% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Trinidad and Tobago (-4.9% per year) and Chile (-1.1% per year).

Production

Latin America and the Caribbean's Production of Bromides And Bromide Oxides, Iodides And Iodide Oxides

Bromides, iodides and oxids thereof production declined to 23K tons in 2024, which is down by -8.7% compared with 2023 figures. In general, production continues to indicate a pronounced decline. The growth pace was the most rapid in 2021 when the production volume increased by 12% against the previous year. The volume of production peaked at 31K tons in 2013; however, from 2014 to 2024, production remained at a lower figure.

In value terms, bromides, iodides and oxids thereof production fell slightly to $616M in 2024 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by 12%. Over the period under review, production hit record highs at $630M in 2023, and then dropped modestly in the following year.

Production By Country

Brazil (12K tons) constituted the country with the largest volume of bromides, iodides and oxids thereof production, comprising approx. 52% of total volume. Moreover, bromides, iodides and oxids thereof production in Brazil exceeded the figures recorded by the second-largest producer, Chile (3.8K tons), threefold. The third position in this ranking was taken by Venezuela (2.6K tons), with an 11% share.

In Brazil, bromides, iodides and oxids thereof production decreased by an average annual rate of -4.0% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Chile (+0.8% per year) and Venezuela (-3.2% per year).

Imports

Latin America and the Caribbean's Imports of Bromides And Bromide Oxides, Iodides And Iodide Oxides

In 2024, purchases abroad of bromides and bromide oxides, iodides and iodide oxides increased by 42% to 30K tons, rising for the second year in a row after three years of decline. In general, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2023 when imports increased by 242% against the previous year. Over the period under review, imports reached the peak figure in 2024 and are likely to see gradual growth in years to come.

In value terms, bromides, iodides and oxids thereof imports skyrocketed to $79M in 2024. Over the period under review, imports enjoyed a prominent increase. The growth pace was the most rapid in 2019 with an increase of 90% against the previous year. Over the period under review, imports reached the peak figure in 2024 and are expected to retain growth in years to come.

Imports By Country

Guyana represented the largest importing country with an import of around 18K tons, which accounted for 60% of total imports. Brazil (7.2K tons) held the second position in the ranking, distantly followed by Trinidad and Tobago (1.9K tons) and Venezuela (1.6K tons). All these countries together took approx. 35% share of total imports. Argentina (481 tons) followed a long way behind the leaders.

Guyana was also the fastest-growing in terms of the bromides and bromide oxides, iodides and iodide oxides imports, with a CAGR of +180.3% from 2013 to 2024. At the same time, Venezuela (+31.2%), Brazil (+10.7%) and Argentina (+5.0%) displayed positive paces of growth. By contrast, Trinidad and Tobago (-4.2%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Guyana and Venezuela increased by +60 and +4.3 percentage points, respectively.

In value terms, the largest bromides, iodides and oxids thereof importing markets in Latin America and the Caribbean were Guyana ($34M), Brazil ($24M) and Trinidad and Tobago ($4M), together comprising 79% of total imports.

Guyana, with a CAGR of +142.7%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices By Country

The import price in Latin America and the Caribbean stood at $2,593 per ton in 2024, falling by -11.9% against the previous year. In general, the import price continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2022 when the import price increased by 43%. As a result, import price attained the peak level of $5,381 per ton. From 2023 to 2024, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Argentina ($4,945 per ton), while Venezuela ($708 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+7.5%), while the other leaders experienced a decline in the import price figures.

Exports

Latin America and the Caribbean's Exports of Bromides And Bromide Oxides, Iodides And Iodide Oxides

In 2024, bromides, iodides and oxids thereof exports in Latin America and the Caribbean rose significantly to 3.2K tons, surging by 8.9% against the previous year. In general, exports showed a slight expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 131%. As a result, the exports reached the peak of 6.5K tons. From 2020 to 2024, the growth of the exports failed to regain momentum.

In value terms, bromides, iodides and oxids thereof exports stood at $95M in 2024. Over the period under review, exports recorded a perceptible increase. The pace of growth appeared the most rapid in 2022 when exports increased by 41% against the previous year. Over the period under review, the exports attained the peak figure in 2024 and are expected to retain growth in the near future.

Exports By Country

Brazil was the largest exporting country with an export of about 2K tons, which accounted for 62% of total exports. It was distantly followed by Chile (1.1K tons), achieving a 35% share of total exports. Trinidad and Tobago (74 tons) followed a long way behind the leaders.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Trinidad and Tobago (with a CAGR of +50.3%), while the other leaders experienced more modest paces of growth.

In value terms, Chile ($66M) remains the largest bromides, iodides and oxids thereof supplier in Latin America and the Caribbean, comprising 70% of total exports. The second position in the ranking was held by Brazil ($27M), with a 29% share of total exports.

In Chile, bromides, iodides and oxids thereof exports increased at an average annual rate of +5.8% over the period from 2013-2024. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+0.4% per year) and Trinidad and Tobago (+79.7% per year).

Export Prices By Country

The export price in Latin America and the Caribbean stood at $29,850 per ton in 2024, approximately mirroring the previous year. Over the period under review, the export price, however, saw a moderate expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by 202%. Over the period under review, the export prices hit record highs at $29,899 per ton in 2023, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Chile ($59,530 per ton), while Trinidad and Tobago ($11,849 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+19.6%), while the other leaders experienced mixed trends in the export price figures.