Latin America and the Caribbean: Nitrates Market 2024

Nitrates Market Size in Latin America and the Caribbean

The Latin American nitrates market rose to $X in 2022, increasing by X% against the previous year. The total consumption indicated buoyant 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, consumption decreased by X% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Nitrates Production in Latin America and the Caribbean

In value terms, nitrates production stood at $X in 2022 estimated in export price. The total production indicated a remarkable 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, production decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Nitrates Exports

Exports in Latin America and the Caribbean

For the third consecutive year, LatAmerica and the Caribbean recorded decline in overseas shipments of nitrates (excluding those of potassium), which decreased by X% to X tons in 2022. Over the period under review, exports continue to indicate a precipitous decline. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, nitrates exports shrank rapidly to $X in 2022. In general, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Honduras (X tons) and Mexico (X tons) represented roughly X% of total exports in 2022. Guatemala (X tons) ranks next in terms of the total exports with a X% share, followed by Brazil (X%) and Peru (X%). The following exporters - El Salvador (X tons) and the Dominican Republic (X tons) - each accounted for a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Dominican Republic (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest nitrates supplying countries in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Honduras ($X), together accounting for X% of total exports. The Dominican Republic, Peru, Guatemala and El Salvador lagged somewhat behind, together accounting for a further X%.

The Dominican Republic, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 the Dominican Republic ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

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

Nitrates Imports

Imports in Latin America and the Caribbean

Nitrates imports rose slightly to X tons in 2022, increasing by X% compared with the previous year's figure. The total import 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 throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, nitrates imports soared to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of nitrates imports in 2022 were Chile (X tons), Mexico (X tons) and Peru (X tons), together recording X% of total import. Brazil (X tons) took the next position in the ranking, followed by Honduras (X tons) and Ecuador (X tons). All these countries together held near X% share of total imports. The Dominican Republic (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nitrates importing markets in Latin America and the Caribbean were Mexico ($X), Peru ($X) and Brazil ($X), together accounting for X% of total imports. Chile, Ecuador, Honduras and the Dominican Republic lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Honduras, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while Chile ($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 a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :