Latin America and the Caribbean: Crude Granite Market 2024

Crude Granite Market Size in Latin America and the Caribbean

In 2022, the Latin American crude granite market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Crude Granite Production in Latin America and the Caribbean

In value terms, crude granite production skyrocketed to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Crude Granite Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of granite (crude) increased by 0.8% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2014 when exports increased by 45%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crude granite exports soared to $X in 2022. Over the period under review, exports, however, saw a abrupt decrease. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil dominates exports structure, amounting to X tons, which was near 88% of total exports in 2022. It was distantly followed by Guatemala (X tons), generating a 5.6% share of total exports. Uruguay (X tons) and Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to crude granite exports from Brazil stood at -11.6%. At the same time, Uruguay (+5.0%) and Guatemala (+1.2%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +5.0% from 2012-2022. By contrast, Argentina (-9.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Guatemala and Uruguay increased by +4.1 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest crude granite supplier in Latin America and the Caribbean, comprising 87% of total exports. The second position in the ranking was taken by Uruguay ($X), with a 6.4% share of total exports. It was followed by Argentina, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at -9.4%. In the other countries, the average annual rates were as follows: Uruguay (+15.1% per year) and Argentina (-7.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of 41% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+9.6%), while the other leaders experienced more modest paces of growth.

Crude Granite Imports

Imports in Latin America and the Caribbean

In 2022, imports of granite (crude) in Latin America and the Caribbean reduced to X tons, which is down by -8% compared with the previous year's figure. Overall, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 18%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, crude granite imports shrank modestly to $X in 2022. In general, imports recorded a slight reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 29%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Argentina prevails in imports structure, amounting to X tons, which was approx. 74% of total imports in 2022. It was distantly followed by the Dominican Republic (X tons), comprising a 6.8% share of total imports. Colombia (X tons), Aruba (X tons), Trinidad and Tobago (X tons), El Salvador (X tons) and Bahamas (X tons) held a relatively small share of total imports.

Argentina experienced a relatively flat trend pattern with regard to volume of imports of granite (crude). At the same time, the Dominican Republic (+35.2%), Aruba (+34.6%), El Salvador (+29.2%), Trinidad and Tobago (+20.5%) and Colombia (+18.4%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +35.2% from 2012-2022. By contrast, Bahamas (-14.0%) illustrated a downward trend over the same period. While the share of Argentina (+31 p.p.), the Dominican Republic (+6.6 p.p.), Colombia (+3.8 p.p.), Aruba (+3.7 p.p.), Trinidad and Tobago (+2.3 p.p.) and El Salvador (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bahamas (-2.3 p.p.) displayed negative dynamics.

In value terms, Argentina ($X) constitutes the largest market for imported granite (crude) in Latin America and the Caribbean, comprising 81% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with a 3.7% share of total imports. It was followed by El Salvador, with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Argentina amounted to +5.3%. In the other countries, the average annual rates were as follows: the Dominican Republic (+38.4% per year) and El Salvador (+36.1% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of 4.7% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude granite import price decreased by -6.0% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 26%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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