Latin America and the Caribbean: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Latin America and the Caribbean

The Latin American non-electric industrial furnace market declined to $X in 2023, shrinking by X% against the previous year. Overall, consumption showed a abrupt decrease. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market remained at a somewhat lower figure.

Non-Electric Industrial Furnace Production in Latin America and the Caribbean

In value terms, non-electric industrial furnace production shrank to $X in 2023 estimated in export price. In general, production continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2023, production growth failed to regain momentum.

Non-Electric Industrial Furnace Exports

Exports in Latin America and the Caribbean

In 2023, non-electric industrial furnace exports in Latin America and the Caribbean fell markedly to X units, shrinking by X% on the previous year's figure. In general, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of X units. From 2014 to 2023, the growth of the exports failed to regain momentum.

In value terms, non-electric industrial furnace exports contracted remarkably to $X in 2023. Overall, exports recorded a pronounced slump. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Brazil (X units), Chile (X units), Argentina (X units), Mexico (X units), Peru (X units), Colombia (X units) and Guatemala (X units) was the key exporter of non-electric industrial or laboratory furnaces and ovens in Latin America and the Caribbean, mixing up X% of total export.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Chile (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Colombia ($X) and Brazil ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Chile, Peru, Argentina and Guatemala lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Chile, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2023, surging by X% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The growth pace was the most rapid in 2014 when the export price increased by X%. The level of export peaked in 2023 and is likely to continue growth in the immediate term.

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 Mexico ($X per unit), while Argentina ($X per unit) was amongst the lowest.

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

Non-Electric Industrial Furnace Imports

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of non-electric industrial or laboratory furnaces and ovens decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. In general, imports saw a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace imports stood at $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

Mexico was the key importing country with an import of about X units, which recorded X% of total imports. Peru (X units) ranks second in terms of the total imports with an X% share, followed by the Dominican Republic (X%), Chile (X%) and Colombia (X%). Brazil (X units), Bolivia (X units), Uruguay (X units), Argentina (X units) and Guatemala (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to non-electric industrial furnace imports into Mexico stood at X%. At the same time, the Dominican Republic (X%), Uruguay (X%), Peru (X%) and Bolivia (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. Guatemala experienced a relatively flat trend pattern. By contrast, Brazil (X%), Argentina (X%), Colombia (X%) and Chile (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Dominican Republic, Peru, Mexico, Bolivia and Uruguay increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest non-electric industrial furnace importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Bolivia ($X), together comprising X% of total imports. The Dominican Republic, Colombia, Argentina, Chile, Peru, Guatemala and Uruguay lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, the Dominican Republic, with a CAGR of X%, saw the highest growth rate of 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 2023, the import price in Latin America and the Caribbean amounted to $X per unit, jumping by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 when the import price increased by X%. Over the period under review, import prices reached the maximum in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per unit), while Peru ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform