Latin America and the Caribbean: Market for Tin Ores And Concentrates 2024

Market Size for Tin Ores And Concentrates in Latin America and the Caribbean

The Latin American tin ores and concentrates market shrank rapidly to $X in 2022, reducing by -21.6% against the previous year. In general, consumption recorded a abrupt slump. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Tin Ores And Concentrates in Latin America and the Caribbean

In value terms, tin ores and concentrates production contracted to $X in 2022 estimated in export price. Overall, production, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by 45%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Tin Ores And Concentrates

Exports in Latin America and the Caribbean

For the fourth consecutive year, LatAmerica and the Caribbean recorded growth in shipments abroad of tin ores and concentrateses, which increased by 15% to X tons in 2022. In general, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 235% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, tin ores and concentrates exports expanded remarkably to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 80%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Brazil prevails in exports structure, resulting at X tons, which was near 97% of total exports in 2022. Bolivia (X tons) took a relatively small share of total exports.

Brazil was also the fastest-growing in terms of the tin ores and concentrateses exports, with a CAGR of +22.6% from 2012 to 2022. Bolivia (-26.0%) illustrated a downward trend over the same period. While the share of Brazil (+74 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Bolivia (-73.1 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) emerged as the largest tin ores and concentrates supplier in Latin America and the Caribbean, comprising 94% of total exports. The second position in the ranking was held by Bolivia ($X), with a 3.9% share of total exports.

In Brazil, tin ores and concentrates exports expanded at an average annual rate of +16.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with a decrease of -6% against the previous year. In general, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the export price increased by 44%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a 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 Bolivia ($X per ton), while Brazil amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+1.1%).

Imports of Tin Ores And Concentrates

Imports in Latin America and the Caribbean

After six years of growth, overseas purchases of tin ores and concentrateses decreased by -24% to X tons in 2022. In general, imports, however, showed a significant increase. The growth pace was the most rapid in 2014 with an increase of 210%. The volume of import peaked at X tons in 2021, and then fell notably in the following year.

In value terms, tin ores and concentrates imports dropped markedly to $X in 2022. Overall, imports, however, saw a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 160% against the previous year. As a result, imports attained the peak of $X, and then reduced rapidly in the following year.

Imports by Country

Peru was the major importing country with an import of around X tons, which accounted for 70% of total imports. It was distantly followed by Cuba (X tons) and Brazil (X tons), together making up a 28% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to tin ores and concentrates imports into Peru stood at +34.5%. At the same time, Cuba (+49.2%) and Brazil (+5.1%) displayed positive paces of growth. Moreover, Cuba emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +49.2% from 2012-2022. Peru (+30 p.p.) and Cuba (+19 p.p.) significantly strengthened its position in terms of the total imports, while Brazil saw its share reduced by -27.2% from 2012 to 2022, respectively.

In value terms, Peru ($X) constitutes the largest market for imported tin ores and concentrateses in Latin America and the Caribbean, comprising 71% of total imports. The second position in the ranking was held by Brazil ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Peru totaled +35.9%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+0.0% per year) and Cuba (+45.7% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with a decrease of -41.1% against the previous year. In general, the import price saw a abrupt descent. The most prominent rate of growth was recorded in 2021 an increase of 72%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 ($X per ton), while Cuba ($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 (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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