Fluorspar market in Latin America and the Caribbean

Earlier Report Observations

The fluorspar market size in Latin America and the Caribbean held steady at approximately 1 078 to 1 083 thousand tons in 2018 and 2019, sustained by consistent demand from the steel and chemical industries.

Supply chain disruptions from the COVID-19 pandemic caused a sharp contraction to 801 thousand tons in 2020. After a slight further dip to 792 thousand tons in 2021, the market rebounded to 902 thousand tons in 2022. This recovery was fueled by rising global demand for fluorspar in lithium‑ion battery and fluoropolymer production, alongside international developments such as the acquisition of Canada Fluorspar Inc. by AMED Funds to restart the St. Lawrence mine.

Factors for 2023 and 2024 indicate continued demand growth from the automotive, chemical and metallurgical sectors across the region, with the market remaining tied to steel‑production activity and no major regulatory changes or new local plant openings reported.

Production fluorspar in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of fluorspar, 2017-2020

World map of production of fluorspar, 2017-2020

After two years of growth, fluorspar production in Latin America and the Caribbean declined. In 2019, production reached its peak at 1,264 thousand tons, but by 2020 it had fallen sharply to 944 thousand tons, representing a 25.3% decrease from the previous year. Over the period from 2017 to 2020, production increased by 21.1%, which translates to an average annual growth rate of 6.6%. The largest year-on-year increase occurred in 2018, when production jumped by 56.3%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

The market showed significant volatility during these years. In 2017, the value of fluorspar output hit its lowest point, while 2019 saw the peak at 620.2 million US dollars, resulting in a 2.3-fold variation between these extremes. In 2020, the value dropped sharply to 433.4 million US dollars, marking a 30.1% decline from the previous year. The most substantial increase was recorded in 2018, with an 81.1% rise in value.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports fluorspar from Latin America and the Caribbean

Exports in kind, K t

In 2020, fluorspar exports from Latin America and the Caribbean amounted to 167.8 thousand tons, reflecting a strong decline of 23.2% compared to 2019. Over the 2017-2020 period, exports decreased by 19.6%, with an average annual decline rate of 7.0%. The highest export volume was recorded in 2019 at 218.5 thousand tons, which also saw the largest increase of 17.7% that year.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the United States consistently accounted for 84.3% of total fluorspar exports in volume from Latin America and the Caribbean, demonstrating a high concentration on this market. The remaining exports were distributed among other countries.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

Following two years of growth, fluorspar export revenues from Latin America and the Caribbean declined. In 2020, exports were valued at 77.0 million US dollars, down 28.1% from the previous year. Over the 2017-2020 period, export value increased by 8.1%, equivalent to an average annual growth rate of 2.6%. The peak value was recorded in 2019 at 107.2 million US dollars, which also experienced the largest increase of 45.9% that year.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

Throughout 2017-2020, the United States dominated the export partner structure in value terms, accounting for 87.7% of total flows. Other markets held comparatively modest shares during this period.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports fluorspar to Latin America and the Caribbean

Imports in kind, K t

Fluorspar imports into Latin America and the Caribbean declined for the second consecutive year. In 2020, imports totaled 24.9 thousand tons, indicating a steep reduction of 34.5% compared to 2019. Over the 2017-2020 period, imports decreased by 17.8%, with an average annual decline rate of 6.3%. The highest import volume was recorded in 2018 at 45.0 thousand tons, which also saw the largest increase of 48.3% that year.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the United States (1.2% of imports in volume), China (0.7%), and Spain (0.6%) were the primary suppliers of fluorspar to Latin America and the Caribbean. Together, these three countries accounted for 2.5% of total imports in volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

Fluorspar import value into Latin America and the Caribbean declined for the second consecutive year. In 2020, imports were valued at approximately 9.4 million US dollars, showing a reduction of 31.4% compared to the previous year. The peak import value was recorded in 2018 at 14.5 million US dollars, which also experienced the largest increase of 53.0% that year.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

During 2017-2020, the United States (2.4% of imports in value), China (1.6%), and Spain (1.4%) were the principal sources for fluorspar imports in value terms to Latin America and the Caribbean. Collectively, these three countries accounted for 5.4% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020