Mexico - Base Metal Cored Wire For Electric Arc-Welding - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMexico's Import of Cored Arc-Welding Wire Skyrockets 13%, Reaching a Record $116M in 2023
Mexico Cored Arc-Welding Wire Imports
In 2023, the amount of cored arc-welding wire imported into Mexico skyrocketed to 31K tons, growing by 30% against the previous year's figure. Over the period under review, total imports indicated a buoyant expansion from 2013 to 2023: its volume increased at an average annual rate of +9.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by +97.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 36% against the previous year. Imports peaked in 2023 and are likely to see steady growth in years to come.
In value terms, cored arc-welding wire imports rose sharply to $116M (IndexBox estimates) in 2023. Overall, total imports indicated resilient growth from 2013 to 2023: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by +118.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. Imports peaked in 2023 and are expected to retain growth in the near future.
| COUNTRY | Import Value of Cored Arc-Welding Wire in Mexico (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| United States | 38.5 | 45.3 | 49.7 | 45.3 | 44.6 | 47.3 | 48.3 | 31.8 | 42.7 | 58.3 | 68.1 |
| South Korea | 0.4 | 1.3 | 5.0 | 6.9 | 5.6 | 6.8 | 5.7 | 3.1 | 8.1 | 15.2 | 16.7 |
| China | 3.4 | 3.7 | 4.9 | 6.5 | 7.0 | 6.0 | 5.6 | 5.8 | 11.0 | 14.8 | 12.5 |
| Vietnam | N/A | 0.4 | 0.9 | 1.9 | 1.7 | 2.4 | 2.7 | 4.3 | 5.2 | 5.4 | 8.2 |
| Canada | 0.6 | 0.9 | 0.7 | 0.9 | 0.6 | 1.0 | 0.8 | 1.1 | 1.0 | 1.9 | 3.6 |
| Japan | 1.0 | 1.1 | 1.9 | 2.5 | 2.5 | 2.6 | 3.2 | 1.9 | 3.2 | 2.6 | 2.0 |
| Malaysia | 6.3 | 10.2 | 6.3 | 2.6 | 2.7 | 4.2 | 3.2 | 1.7 | 0.3 | 0.6 | 0.3 |
| Others | 8.8 | 5.3 | 3.8 | 2.8 | 5.3 | 4.4 | 5.0 | 3.4 | 3.4 | 4.0 | 4.4 |
| Total | 59.1 | 68.3 | 73.2 | 69.4 | 70.0 | 74.7 | 74.4 | 53.1 | 75.0 | 103 | 116 |
Imports by Country
the United States (11K tons), China (8.7K tons) and South Korea (5.9K tons) were the main suppliers of cored arc-welding wire imports to Mexico, together comprising 80% of total imports. Vietnam, Canada, Malaysia and Japan lagged somewhat behind, together comprising a further 18%.
From 2013 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of +72.6%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the United States ($68M) constituted the largest supplier of cored arc-welding wire to Mexico, comprising 59% of total imports. The second position in the ranking was taken by South Korea ($17M), with a 14% share of total imports. It was followed by China, with an 11% share.
From 2013 to 2023, the average annual rate of growth in terms of value from the United States totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+43.5% per year) and China (+14.0% per year).
Import Prices by Country
In 2023, the cored arc-welding wire price stood at $3,691 per ton (CIF, Mexico), shrinking by -13.1% against the previous year. Overall, the import price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2022 an increase of 19% against the previous year. Over the period under review, average import prices attained the peak figure at $4,697 per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($18,371 per ton), while the price for China ($1,435 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the cored arc-welding wire market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25931530 - Base metal cored wire for electric arc-welding (excluding wire and rods of cored solder, the solder consisting of an alloy containing 2 % or more by weight, of any one precious metal)
Country coverage:
- Mexico
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Mexico
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
