Updated Nov 22, 2022 16:25

Market for Refractory Products of Siliceous or Diatomite Earths in Mexico

Market Overview
In , the Mexican market for refractory products of siliceous or diatomite earths was finally on the rise to reach $ after two years of decline. Overall, consumption, however, saw a perceptible descent. As a result, consumption reached the peak level of $. From 2019 to , the growth of the market remained at a somewhat lower figure.

In value terms, production of refractory products of siliceous or diatomite earths expanded notably to $ in estimated in export price. In general, production, however, recorded a noticeable reduction. The pace of growth appeared the most rapid in 2018 with an increase of % against the previous year. As a result, production attained the peak level of $. From 2019 to , production of growth remained at a lower figure.


Consumption
Consumption of refractory products of siliceous or diatomite earths in Mexico declined to tons in , falling by -% compared with the previous year's figure. In general, consumption recorded a noticeable decrease. As a result, consumption attained the peak volume of tons. From 2019 to , the growth of the consumption of failed to regain momentum.

The size of the market for refractory products of siliceous or diatomite earths in Mexico declined slightly to $ in , shrinking by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a perceptible slump. As a result, consumption reached the peak level of $. From 2019 to , the growth of the market failed to regain momentum.


Market Forecast
Depressed by shrinking demand for refractory products of siliceous or diatomite earths in Mexico, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, imports of refractory products of siliceous or diatomite earths in Mexico were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for refractory products of siliceous or diatomite earths. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. The growth in the share of Mexico imports of in the refractory products of siliceous or diatomite earths market structure from % in 2007 to % in is explained by a more substantial reduction in output, compared with a decrease in imports. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Mexico remains a net exporter of refractory products of siliceous or diatomite earths; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.