Latin America and the Caribbean: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Latin America and the Caribbean

The Latin American potassium nitrate market skyrocketed to $X in 2023, jumping by X% against the previous year. Over the period under review, consumption posted a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Potassium Nitrate Production in Latin America and the Caribbean

In value terms, potassium nitrate production rose slightly to $X in 2023 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

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Potassium Nitrate Exports

Exports in Latin America and the Caribbean

After three years of growth, overseas shipments of potassium nitrates decreased by X% to X tons in 2023. In general, exports recorded a noticeable setback. The pace of growth was the most pronounced in 2017 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, potassium nitrate exports fell dramatically to $X in 2023. Overall, exports saw a slight descent. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then declined notably in the following year.

Exports by Country

Chile (X tons) represented roughly X% of total exports in 2023.

Chile was also the fastest-growing in terms of the potassium nitrates exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) also remains the largest potassium nitrate supplier in Latin America and the Caribbean.

From 2012 to 2023, the average annual growth rate of value in Chile totaled X%.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Export price indicated a measured expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, potassium nitrate export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2023 and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Chile.

From 2012 to 2023, the rate of growth in terms of prices for Chile amounted to X% per year.

Potassium Nitrate Imports

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of potassium nitrates decreased by X% to X tons, falling for the fifth year in a row after two years of growth. Overall, imports showed a pronounced contraction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, potassium nitrate imports declined dramatically to $X in 2023. In general, imports saw a noticeable curtailment. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Peru was the key importing country with an import of about X tons, which finished at X% of total imports. Argentina (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Ecuador (X%). Honduras (X tons), the Dominican Republic (X tons), Guatemala (X tons), Brazil (X tons) and Colombia (X tons) took a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to potassium nitrate imports into Peru stood at X%. At the same time, Honduras (X%) and the Dominican Republic (X%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Argentina (X%), Ecuador (X%), Guatemala (X%), Colombia (X%) and Brazil (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Peru, Honduras and the Dominican Republic increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X), Argentina ($X) and Ecuador ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports. Brazil, Guatemala, the Dominican Republic, Honduras and Colombia lagged somewhat behind, together comprising a further X%.

Among the main importing countries, the Dominican Republic, with a CAGR of X%, recorded 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 2023, waning by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2023.

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

From 2012 to 2023, 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.

Source: IndexBox Platform