Latin America and the Caribbean: Explosives Market 2024

Explosives Market Size in Latin America and the Caribbean

The Latin American explosives market skyrocketed to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Explosives Production in Latin America and the Caribbean

In value terms, explosives production totaled $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Explosives Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of prepared explosives increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. The total export 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 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; afterwards, it flattened through to 2022.

In value terms, explosives exports soared to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Peru (X tons) and Mexico (X tons) represented the major exporters of prepared explosives in Latin America and the Caribbean, together amounting to near X% of total exports. Costa Rica (X tons) held the next position in the ranking, distantly followed by Brazil (X tons) and Panama (X tons). All these countries together held near X% share of total exports. The following exporters - Chile (X tons) and Bolivia (X tons) - each accounted for a X% share of total exports.

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

In value terms, the largest explosives supplying countries in Latin America and the Caribbean were Peru ($X), Mexico ($X) and Costa Rica ($X), with a combined X% share of total exports. Brazil, Panama, Chile and Bolivia lagged somewhat behind, together comprising a further X%.

Panama, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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, with an increase of X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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 Chile ($X per ton), while Mexico ($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.

Explosives Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of prepared explosives were imported in Latin America and the Caribbean; increasing by X% against the previous year's figure. Overall, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, explosives imports surged to $X in 2022. Over the period under review, imports continue to indicate a perceptible expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Peru (X tons) and Guyana (X tons) represented the main importers of prepared explosives in 2022, reaching approx. X% and X% of total imports, respectively. It was distantly followed by Mexico (X tons), creating a X% share of total imports. Bolivia (X tons), Ecuador (X tons) and Nicaragua (X tons) took a relatively small share of total imports.

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

In value terms, Peru ($X) constitutes the largest market for imported prepared explosives in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with an X% share of total imports. It was followed by Ecuador, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Peru stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Ecuador (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, waning by X% against the previous year. Overall, the import price faced a drastic downturn. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Ecuador ($X per ton), while Guyana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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