Latin America and the Caribbean: Lithium Carbonate Market 2023

Lithium Carbonate Market Size in Latin America and the Caribbean

In 2021, the Latin American lithium carbonate market increased by 2% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption saw a strong increase. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Lithium Carbonate Production in Latin America and the Caribbean

In value terms, lithium carbonate production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded buoyant growth. The pace of growth was the most pronounced in 2016 when the production volume increased by 94%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Lithium Carbonate Exports

Exports in Latin America and the Caribbean

For the eighth consecutive year, LatAmerica and the Caribbean recorded growth in shipments abroad of lithium carbonates, which increased by 35% to X tons in 2021. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2016 when exports increased by 39%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, lithium carbonate exports surged to $X in 2021. In general, exports saw a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by 112% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Chile was the largest exporting country with an export of about X tons, which amounted to 80% of total exports. It was distantly followed by Argentina (X tons), generating a 19% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to lithium carbonate exports from Chile stood at +10.5%. At the same time, Argentina (+14.2%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +14.2% from 2012-2021. While the share of Argentina (+4.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Chile (-4.3 p.p.) displayed negative dynamics.

In value terms, Chile ($X) remains the largest lithium carbonate supplier in Latin America and the Caribbean, comprising 76% of total exports. The second position in the ranking was held by Argentina ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Chile stood at +15.6%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 12% against the previous year. Overall, the export price continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2016 an increase of 52%. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Chile totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+7.8%).

Lithium Carbonate Imports

Imports in Latin America and the Caribbean

In 2021, the amount of lithium carbonates imported in Latin America and the Caribbean skyrocketed to X tons, jumping by 27% on 2020. Over the period under review, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when imports increased by 105% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, lithium carbonate imports skyrocketed to $X in 2021. Overall, imports enjoyed a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico was the main importing country with an import of about X tons, which reached 77% of total imports. It was distantly followed by Argentina (X tons), creating an 18% share of total imports.

Mexico was also the fastest-growing in terms of the lithium carbonates imports, with a CAGR of +13.8% from 2012 to 2021. Argentina experienced a relatively flat trend pattern. From 2012 to 2021, the share of Mexico increased by +29 percentage points.

In value terms, Mexico ($X) constitutes the largest market for imported lithium carbonates in Latin America and the Caribbean, comprising 67% of total imports. The second position in the ranking was held by Argentina ($X), with a 23% share of total imports.

In Mexico, lithium carbonate imports expanded at an average annual rate of +16.1% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 14% against the previous year. Over the period under review, the import price recorded a tangible increase. The most prominent rate of growth was recorded in 2017 an increase of 50% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Argentina ($X per ton), while Mexico stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+7.8%).

Source: IndexBox Platform

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