Latin America and the Caribbean: Zinc Market 2024

Zinc Market Size in Latin America and the Caribbean

The Latin American zinc market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Zinc Production in Latin America and the Caribbean

In value terms, zinc production reached $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.4% against 2018 indices. The growth pace was the most rapid in 2017 when the production volume increased by 38% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Zinc Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of zinc decreased by -3.1% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 14% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, zinc exports rose notably to $X in 2021. Total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -16.0% against 2018 indices. The pace of growth was the most pronounced in 2017 when exports increased by 40% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Peru (X tons) was the major exporter of zinc, achieving 61% of total exports. Mexico (X tons) held the second position in the ranking, distantly followed by Brazil (X tons). All these countries together held approx. 38% share of total exports.

Peru experienced a relatively flat trend pattern with regard to volume of exports of zinc. Brazil experienced a relatively flat trend pattern. Mexico (-6.3%) illustrated a downward trend over the same period. While the share of Peru (+11 p.p.) and Brazil (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-11.2 p.p.) displayed negative dynamics.

In value terms, Peru ($X) remains the largest zinc supplier in Latin America and the Caribbean, comprising 64% of total exports. The second position in the ranking was held by Mexico ($X), with a 24% share of total exports.

In Peru, zinc exports expanded at an average annual rate of +5.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mexico (-3.2% per year) and Brazil (+3.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 14% against the previous year. Export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the export price increased by 43% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+5.6%), while the other leaders experienced more modest paces of growth.

Zinc Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of zinc was finally on the rise to reach X tons after two years of decline. Total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by 42% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, zinc imports surged to $X in 2021. Over the period under review, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons), distantly followed by Argentina (X tons), Mexico (X tons), Colombia (X tons), Chile (X tons) and Guatemala (X tons) represented the key importers of zinc, together comprising 91% of total imports. Costa Rica (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 Argentina (with a CAGR of +19.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Argentina ($X) and Mexico ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 70% of total imports.

In terms of the main importing countries, Argentina, with a CAGR of +24.7%, saw the highest rates of growth with regard to 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. The pace of growth was the most pronounced in 2017 an increase of 29%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Argentina ($X per ton) and Chile ($X per ton), while Mexico ($X per ton) and Guatemala ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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