Puerto Rico: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Puerto Rico

In 2021, after two years of growth, there was significant decline in the Puerto Rican iron oxide pigment market, when its value decreased by -5.1% to $X. In general, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +34.4% against 2018 indices. Puerto Rico consumption peaked at $X in 2020, and then reduced in the following year.

Iron Oxide Pigment Production in Puerto Rico

In value terms, iron oxide pigment production fell to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 50% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then reduced in the following year.

Iron Oxide Pigment Exports

Exports from Puerto Rico

Iron oxide pigment exports from Puerto Rico amounted to less than X kg in 2021, flattening at 2020. In general, exports showed a relatively flat trend pattern.

In value terms, iron oxide pigment exports stood at less than $X in 2021. Over the period under review, exports showed a relatively flat trend pattern.

Exports by Country

China represented the largest exporter of iron oxide pigments in the world, with the volume of exports finishing at X tons, which was near 37% of total exports in 2021. South Korea (X tons) held a 9.2% share (based on physical terms) of total exports, which put it in second place, followed by Sweden (6.1%) and the United States (5.2%). Japan (X tons), Belgium (X tons), Taiwan (Chinese) (X tons), Brazil (X tons), Austria (X tons), India (X tons), South Africa (X tons), Mauritania (X tons) and France (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to iron oxide pigment exports from China stood at +2.1%. At the same time, Mauritania (+33.5%), South Africa (+21.9%), Belgium (+11.4%), Austria (+4.4%), Japan (+3.6%), India (+3.3%), France (+2.8%) and South Korea (+2.5%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing exporter exported in the world, with a CAGR of +33.5% from 2012-2021. By contrast, Sweden (-2.3%), the United States (-4.0%), Taiwan (Chinese) (-4.1%) and Brazil (-19.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, South Korea, Belgium, Mauritania, South Africa and Japan increased by +13, +3.4, +2.5, +2.1, +2.1 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron oxide pigment supplier from Puerto Rico, comprising 46% of global exports. The second position in the ranking was held by the United States ($X), with a 7% share of global exports. It was followed by South Korea, with a 4.9% share.

In China, iron oxide pigment exports increased at an average annual rate of +2.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United States (-2.4% per year) and South Korea (+2.7% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+20.8%), while the other leaders experienced more modest paces of growth.

Iron Oxide Pigment Imports

Imports into Puerto Rico

In 2021, approx. less than X kg of iron oxide pigments were imported into Puerto Rico; remaining constant against the previous year. Over the period under review, imports showed a relatively flat trend pattern.

In value terms, iron oxide pigment imports totaled less than $X in 2021. In general, imports showed a relatively flat trend pattern.

Imports by Country

In 2021, China (X tons) and the United States (X tons) represented the largest importers of iron oxide pigmentsaround the world, together constituting 39% of total imports. Spain (X tons), Germany (X tons), the UK (X tons), the Netherlands (X tons), Russia (X tons), Italy (X tons), Mexico (X tons), India (X tons), Australia (X tons), Poland (X tons) and France (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Netherlands (with a CAGR of +5.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Germany ($X) were the countries with the highest levels of imports in 2021, with a combined 34% share of total imports. The UK, the Netherlands, Russia, India, Spain, Mexico, France, Australia, Poland and Italy lagged somewhat behind, together comprising a further 28%.

The Netherlands, with a CAGR of +6.9%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 Puerto Rico stood at less than $X per ton in 2021, approximately mirroring the previous year. Over the period under review, the import price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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