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Mexico - Winding Wire For Electrical Purposes - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

Mexico - Winding Wire For Electrical Purposes - Market Analysis, Forecast, Size, Trends And Insights

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Mar 28, 2023

Mexico's Winding Wire Price Reaches $10.1 Per Kg

Mexico Winding Wire Export Price in December 2022

In December 2022, the winding wire price stood at $10.1 per kg, therefore (FOB, Mexico), remained relatively stable against the previous month. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in January 2022 an increase of 7.7% month-to-month. The export price peaked at $11.8 per kg in March 2022; however, from April 2022 to December 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From December 2021 to December 2022, the rate of growth in terms of prices for the United States amounted to -0.5% per month.

Mexico Winding Wire Exports

In December 2022, winding wire exports from Mexico soared to 3.5K tons, with an increase of 28% on the previous month. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2022 when exports increased by 57% m-o-m. Over the period under review, the exports reached the maximum at 3.7K tons in May 2022; however, from June 2022 to December 2022, the exports stood at a somewhat lower figure.

In value terms, winding wire exports surged to $35M (IndexBox estimates) in December 2022. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in February 2022 when exports increased by 57% against the previous month. The exports peaked at 43K tons in March 2022; however, from April 2022 to December 2022, the exports failed to regain momentum.

Mexico Winding Wire Exports by Country

The United States (3.5K tons) was the main destination for winding wire exports from Mexico, with a approximately 99% share of total exports. From December 2021 to December 2022, the average monthly rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($35M) also remains the key foreign market for winding wire exports from Mexico. From December 2021 to December 2022, the average monthly rate of growth in terms of value to the United States was relatively modest.

Rising Copper Prices, Labor Costs, and Transportation Expenses Impact Winding Wire Prices in Mexico

Copper and aluminum are the two main materials used to manufacture winding wire, and they account for a significant portion of the total production costs. Mexico's copper production has been decreasing in recent years due to declining ore grade, and as a result, the country must rely heavily on importing copper to meet rising demand. This increased reliance on imports has led to higher copper prices in Mexico, which ultimately affects the cost of winding wire.

Another factor contributing to the price of winding wire in Mexico is labor costs. While Mexico has a large pool of skilled labor, the average hourly wage in the country is still significantly lower than in other manufacturing hubs, such as China or the United States. Despite the lower wages in Mexico, the cost of labor still accounts for a significant portion of the overall production cost, ultimately impacting the final price of winding wire.

Transportation costs are also a factor in the winding wire price in Mexico. The majority of winding wire manufacturers are located in the northern part of the country, near the U.S. border. This means that manufacturers must transport the finished products to different regions in Mexico or export them to other countries, resulting in higher transportation costs. The increasing fuel prices in Mexico have also contributed to the transportation cost hike, which, in turn, has affected the cost of winding wire.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the winding 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 27321100 - Winding wire for electrical purposes

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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