U.S.: Carbonate Market 2022

Carbonate Market Size in the U.S.

In 2021, the U.S. carbonate market decreased by -9.3% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Carbonate Production in the U.S.

In value terms, carbonate production stood at $X in 2021. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 16%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Carbonate Exports

Exports from the U.S.

In 2021, carbonate exports from the United States soared to X tons, with an increase of 22% compared with the previous year's figure. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, carbonate exports surged to $X in 2021. The total export value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X tons), Brazil (X tons) and Indonesia (X tons) were the main destinations of carbonate exports from the United States, together accounting for 40% of total exports. Chile, Malaysia, Vietnam, Thailand, Canada, South Korea, Australia, Japan, Colombia and China lagged somewhat behind, together comprising a further 46%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +25.8%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the key foreign market for carbonate exports from the United States, comprising 24% of total exports. The second position in the ranking was taken by Chile ($X), with an 8% share of total exports. It was followed by Brazil, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value to Mexico stood at +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+5.6% per year) and Brazil (-1.2% per year).

Export Prices by Country

The average carbonate export price stood at $X per ton in 2021, waning by -1.7% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 7.4%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Carbonate Imports

Imports into the U.S.

For the fourth consecutive year, the United States recorded growth in supplies from abroad of carbonates and peroxocarbonates, which increased by 0.7% to X tons in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 25%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, carbonate imports expanded slightly to $X in 2021. In general, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.0% against 2018 indices. The pace of growth was the most pronounced in 2018 when imports increased by 26%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Turkey (X tons), Germany (X tons) and China (X tons) were the main suppliers of carbonate imports to the United States, with a combined 52% share of total imports.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +78.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Chile ($X) and Argentina ($X) were the largest carbonate suppliers to the United States, with a combined 37% share of total imports. These countries were followed by China, Turkey, the UK, South Korea, Mexico, France, Canada, Taiwan (Chinese), Italy and the Dominican Republic, which together accounted for a further 34%.

Turkey, with a CAGR of +76.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average carbonate import price amounted to $X per ton, with an increase of 4.1% against the previous year. Over the period under review, the import price, however, saw a slight slump. The growth pace was the most rapid in 2017 when the average import price increased by 21% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Chile ($X per ton), while the price for the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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