Latin America and the Caribbean: Rare Gases Market 2024

Rare Gases Market Size in Latin America and the Caribbean

The Latin American rare gases market skyrocketed to $X in 2023, growing by X% against the previous year. The total consumption indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2018 indices. The level of consumption peaked in 2023 and is expected to retain growth in the near future.

Rare Gases Production in Latin America and the Caribbean

In value terms, rare gases production reached $X in 2023 estimated in export price. Over the period under review, production recorded a abrupt downturn. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Rare Gases Exports

Exports in Latin America and the Caribbean

In 2023, approx. X cubic meters of rare gases (excluding argon) were exported in Latin America and the Caribbean; reducing by X% compared with 2022. Over the period under review, exports, however, saw a prominent increase. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports hit record highs at X cubic meters in 2022, and then shrank dramatically in the following year.

In value terms, rare gases exports skyrocketed to $X in 2023. In general, exports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in years to come.

Exports by Country

Guatemala dominates exports structure, accounting for X cubic meters, which was approx. X% of total exports in 2023. Brazil (X cubic meters) ranks second in terms of the total exports with a X% share, followed by El Salvador (X%). Chile (X cubic meters), Peru (X cubic meters), Colombia (X cubic meters) and Mexico (X cubic meters) took a minor share of total exports.

Exports from Guatemala increased at an average annual rate of X% from 2012 to 2023. At the same time, El Salvador (X%), Peru (X%), Chile (X%) and Colombia (X%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Brazil (X%) and Mexico (X%) illustrated a downward trend over the same period. While the share of Guatemala (X p.p.), El Salvador (X p.p.), Peru (X p.p.) and Chile (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Mexico (X p.p.) and Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest rare gases supplying countries in Latin America and the Caribbean were Brazil ($X), Chile ($X) and Guatemala ($X), together comprising X% of total exports. El Salvador, Peru, Mexico and Colombia lagged somewhat behind, together accounting for a further X%.

El Salvador, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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

In 2023, the export price in Latin America and the Caribbean amounted to $X per cubic meter, surging by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The level of export peaked at $X per cubic meter in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per cubic meter), while Guatemala ($X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced more modest paces of growth.

Rare Gases Imports

Imports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded growth in overseas purchases of rare gases (excluding argon), which increased by X% to X cubic meters in 2023. Total imports indicated a prominent increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2023 and is likely to see steady growth in the immediate term.

In value terms, rare gases imports surged to $X in 2023. Total imports indicated a prominent increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico dominates imports structure, accounting for X cubic meters, which was near X% of total imports in 2023. It was distantly followed by Brazil (X cubic meters), creating an X% share of total imports. The following importers - Guatemala (X cubic meters), Ecuador (X cubic meters), the Dominican Republic (X cubic meters), Costa Rica (X cubic meters), Argentina (X cubic meters), Panama (X cubic meters), Guyana (X cubic meters) and Peru (X cubic meters) - together made up X% of total imports.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2023. At the same time, the Dominican Republic (X%), Guyana (X%), Panama (X%), Costa Rica (X%), Ecuador (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Peru (X%), Brazil (X%) and Argentina (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.), the Dominican Republic (X p.p.) and Guyana (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Peru (X p.p.), Guatemala (X p.p.), Argentina (X p.p.) and Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest rare gases importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), with a combined X% share of total imports. The Dominican Republic, Guatemala, Costa Rica, Peru, Ecuador, Panama and Guyana lagged somewhat behind, together accounting for a further X%.

Panama, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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

In 2023, the import price in Latin America and the Caribbean amounted to $X per cubic meter, growing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per cubic meter in 2020; however, from 2021 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Brazil ($X per cubic meter), while Guyana ($X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Panama (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform