Latin America and the Caribbean: Market for Welded And Cold-Formed Sections Of Steel 2024

Market Size for Welded And Cold-Formed Sections Of Steel in Latin America and the Caribbean

The Latin American market for welded and cold-formed sections of steel reached $X in 2022, almost unchanged from the previous year. Over the period under review, consumption, however, showed a slight decline. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Welded And Cold-Formed Sections Of Steel in Latin America and the Caribbean

In value terms, welded and cold-formed steel sections production reached $X in 2022 estimated in export price. Over the period under review, production, however, saw a mild decline. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Welded And Cold-Formed Sections Of Steel

Exports in Latin America and the Caribbean

In 2022, shipments abroad of welded and cold-formed sections of steel decreased by X% to X tons, falling for the second year in a row after four years of growth. Overall, exports recorded a dramatic descent. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, welded and cold-formed steel sections exports fell dramatically to $X in 2022. Over the period under review, exports recorded a sharp downturn. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico was the key exporting country with an export of about X tons, which reached X% of total exports. Trinidad and Tobago (X tons) ranks second in terms of the total exports with a X% share, followed by Colombia (X%), Guatemala (X%), the Dominican Republic (X%), Chile (X%) and Bahamas (X%).

Exports from Mexico decreased at an average annual rate of X% from 2012 to 2022. At the same time, Trinidad and Tobago (X%) displayed positive paces of growth. Moreover, Trinidad and Tobago emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Guatemala (X%), Bahamas (X%), Colombia (X%), the Dominican Republic (X%) and Chile (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico, Trinidad and Tobago, Guatemala and Bahamas increased by X, X, X and X percentage points, respectively.

In value terms, Mexico ($X), Trinidad and Tobago ($X) and Colombia ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Trinidad and Tobago, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price recorded a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while Bahamas ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (X%), while the other leaders experienced more modest paces of growth.

Imports of Welded And Cold-Formed Sections Of Steel

Imports in Latin America and the Caribbean

In 2022, purchases abroad of welded and cold-formed sections of steel was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, faced a deep slump. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, welded and cold-formed steel sections imports contracted to $X in 2022. Over the period under review, imports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2017 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Chile was the main importing country with an import of about X tons, which amounted to X% of total imports. Jamaica (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Haiti (X%), Falkland Islands (Malvinas) (X%), Colombia (X%) and Antigua and Barbuda (X%). Bahamas (X tons), Trinidad and Tobago (X tons), Argentina (X tons) and Cuba (X tons) held a minor share of total imports.

Chile was also the fastest-growing in terms of the welded and cold-formed sections of steel imports, with a CAGR of X% from 2012 to 2022. At the same time, Antigua and Barbuda (X%), Falkland Islands (Malvinas) (X%), Jamaica (X%), Cuba (X%) and Trinidad and Tobago (X%) displayed positive paces of growth. Colombia experienced a relatively flat trend pattern. By contrast, Haiti (X%), Bahamas (X%) and Argentina (X%) illustrated a downward trend over the same period. While the share of Chile (X p.p.), Jamaica (X p.p.), Falkland Islands (Malvinas) (X p.p.), Antigua and Barbuda (X p.p.), Colombia (X p.p.), Trinidad and Tobago (X p.p.) and Cuba (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Haiti (X p.p.), Argentina (X p.p.) and Bahamas (X p.p.) displayed negative dynamics.

In value terms, Chile ($X) constitutes the largest market for imported welded and cold-formed sections of steel in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Falkland Islands (Malvinas) ($X), with a X% share of total imports. It was followed by Bahamas, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Chile amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Falkland Islands (Malvinas) (X% per year) and Bahamas (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, falling by X% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, welded and cold-formed steel sections import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then dropped dramatically in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Falkland Islands (Malvinas) ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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