Argentina: Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels 2022

Market Size for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Argentina

The Argentinian market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels declined rapidly to $X in 2021, waning by -18.1% against the previous year. In general, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +30.9% against 2019 indices. As a result, consumption attained the peak level of $X, and then dropped rapidly in the following year.

Production of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Argentina

In value terms, grease fittings and oil seals production shrank sharply to $X in 2021 estimated in export price. Over the period under review, the total production indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +30.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 60%. As a result, production reached the peak level of $X, and then shrank notably in the following year.

Exports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Exports from Argentina

In 2021, overseas shipments of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 42%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, grease fittings and oil seals exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2018 when exports increased by 79%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil (X units) was the main destination for grease fittings and oil seals exports from Argentina, with a 65% share of total exports. Moreover, grease fittings and oil seals exports to Brazil exceeded the volume sent to the second major destination, Chile (X units), fivefold. The third position in this ranking was taken by Paraguay (X units), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume to Brazil amounted to -18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+0.9% per year) and Paraguay (-13.1% per year).

In value terms, Brazil ($X) remains the key foreign market for grease fittings and oil seals exports from Argentina, comprising 61% of total exports. The second position in the ranking was taken by Chile ($X), with a 12% share of total exports. It was followed by Uruguay, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Brazil totaled -17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+3.2% per year) and Uruguay (-7.5% per year).

Export Prices by Country

The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, growing by 6.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2018 an increase of 26%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Imports into Argentina

In 2021, overseas purchases of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, grease fittings and oil seals imports soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Italy (X units) and Brazil (X units) were the main suppliers of grease fittings and oil seals imports to Argentina, together comprising 52% of total imports. The United States, Spain, the UK, Germany, Japan and France lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +15.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest grease fittings and oil seals suppliers to Argentina were the United States ($X), China ($X) and Brazil ($X), together comprising 49% of total imports.

Among the main suppliers, China, with a CAGR of +14.0%, recorded 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

The average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, waning by -2.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average import price increased by 17% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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