Latin America and the Caribbean: Fireworks Market 2022

Fireworks Market Size in Latin America and the Caribbean

The Latin American fireworks market expanded rapidly to $X in 2021, rising by X% against the previous year. In general, consumption saw a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Fireworks Production in Latin America and the Caribbean

In value terms, fireworks production expanded significantly to $X in 2021 estimated in export price. In general, production, however, saw a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Fireworks Exports

Exports in Latin America and the Caribbean

In 2021, approx. X tons of fireworks were exported in Latin America and the Caribbean; picking up by X% on the year before. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, fireworks exports skyrocketed to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Brazil was the largest exporting country with an export of around X tons, which reached X% of total exports. Guatemala (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by El Salvador (X%) and Venezuela (X%). Honduras (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Guatemala (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the largest fireworks supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Guatemala ($X), with a X% share of total exports. It was followed by El Salvador, with a X% share.

From 2012 to 2021, the average annual growth rate of value in Brazil totaled +X%. In the other countries, the average annual rates were as follows: Guatemala (+X% per year) and El Salvador (+X% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, declining by -X% against the previous year. Export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fireworks export price decreased by -X% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the the export prices failed to regain momentum.

Prices varied noticeably countryorigin: the country with the highest price was Brazil ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Honduras (+X%), while the other leaders experienced more modest paces of growth.

Fireworks Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of fireworks decreased by -X% to X tons, falling for the second year in a row after two years of growth. Overall, imports recorded a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, fireworks imports fell rapidly to $X in 2021. In general, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Guatemala was the largest importer of fireworks in Latin America and the Caribbean, with the volume of imports reaching X tons, which was approx. X% of total imports in 2021. It was distantly followed by Paraguay (X tons), Cuba (X tons), Argentina (X tons), Brazil (X tons), Bolivia (X tons) and El Salvador (X tons), together generating a X% share of total imports. Suriname (X tons), Panama (X tons), Ecuador (X tons), Venezuela (X tons), Chile (X tons) and Uruguay (X tons) held a minor share of total imports.

Imports into Guatemala decreased at an average annual rate of -X% from 2012 to 2021. At the same time, Cuba (+X%), Paraguay (+X%), Chile (+X%) and Venezuela (+X%) displayed positive paces of growth. Moreover, Cuba emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. By contrast, El Salvador (-X%), Ecuador (-X%), Panama (-X%), Suriname (-X%), Brazil (-X%), Uruguay (-X%), Bolivia (-X%) and Argentina (-X%) illustrated a downward trend over the same period. Guatemala (+X p.p.), Paraguay (+X p.p.), Cuba (+X p.p.), Chile (+X p.p.) and Venezuela (+X p.p.) significantly strengthened its position in terms of the total imports, while Brazil, Uruguay, Bolivia and Argentina saw its share reduced by -X%, -X%, -X% and -X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guatemala ($X) constitutes the largest market for imported fireworks in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by El Salvador ($X), with a X% share of total imports. It was followed by Chile, with a X% share.

From 2012 to 2021, the average annual growth rate of value in Guatemala was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: El Salvador (-X% per year) and Chile (+X% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fireworks import price increased by +X% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Chile ($X per ton), while Cuba ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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