Latin America and the Caribbean: Solid Biofuel Market 2024

Solid Biofuel Market Size in Latin America and the Caribbean

The Latin American solid biofuel market fell to $X in 2022, dropping by X% against the previous year. In general, consumption showed a slight reduction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Solid Biofuel Production in Latin America and the Caribbean

In value terms, solid biofuel production reached $X in 2022 estimated in export price. Overall, production showed a mild curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Solid Biofuel Exports

Exports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded growth in shipments abroad of solid biofuels, which increased by X% to X tons in 2022. In general, exports saw a prominent expansion. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, solid biofuel exports surged to $X in 2022. Over the period under review, exports posted a resilient expansion. The growth pace was the most rapid in 2018 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Brazil was the major exporting country with an export of about X tons, which accounted for X% of total exports. Paraguay (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Cuba (X%), Mexico (X%) and Argentina (X%). Venezuela (X tons) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the solid biofuels exports, with a CAGR of X% from 2012 to 2022. At the same time, Venezuela (X%), Cuba (X%) and Paraguay (X%) displayed positive paces of growth. By contrast, Mexico (X%) and Argentina (X%) illustrated a downward trend over the same period. Brazil (X p.p.) and Venezuela (X p.p.) significantly strengthened its position in terms of the total exports, while Cuba, Mexico, Argentina and Paraguay saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively.

In value terms, Brazil ($X), Paraguay ($X) and Cuba ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Brazil, with a CAGR of X%, saw 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

The export price in Latin America and the Caribbean stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

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 Cuba ($X per ton), while Brazil ($X per ton) was amongst the lowest.

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

Solid Biofuel Imports

Imports in Latin America and the Caribbean

In 2022, solid biofuel imports in Latin America and the Caribbean reduced to X tons, with a decrease of X% on the previous year. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, solid biofuel imports shrank notably to $X in 2022. In general, imports, however, posted a moderate expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then reduced remarkably in the following year.

Imports by Country

Chile represented the key importer of solid biofuels in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. Brazil (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Uruguay (X%). Peru (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Uruguay (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest solid biofuel importing markets in Latin America and the Caribbean were Chile ($X), Brazil ($X) and Uruguay ($X), with a combined X% share of total imports.

In terms of the main importing countries, Uruguay, 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 2022, waning by X% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price 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, solid biofuel import price decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2017; however, from 2018 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 Brazil ($X per ton), while Peru ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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