Argentina: Road Wheel Market 2024

Road Wheel Market Size in Argentina

In 2022, the Argentinian road wheel market increased by 40% to $X, rising for the second year in a row after three years of decline. Overall, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +150.5% against 2020 indices. Road wheel consumption peaked in 2022 and is likely to see steady growth in the near future.

Road Wheel Exports

Exports from Argentina

In 2022, the amount of road wheels exported from Argentina surged to X tons, picking up by 38% against 2021. In general, exports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 92% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, road wheel exports surged to $X in 2022. Over the period under review, exports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 86%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons) was the main destination for road wheel exports from Argentina, with a 98% share of total exports. It was followed by Chile (X tons), with a 0.5% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Brazil totaled -6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-27.1% per year) and Germany (-39.5% per year).

In value terms, Brazil ($X) remains the key foreign market for road wheels exports from Argentina, comprising 96% of total exports. The second position in the ranking was held by Chile ($X), with a 1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil amounted to -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-27.1% per year) and Germany (-35.8% per year).

Export Prices by Country

The average road wheel export price stood at $X per ton in 2022, jumping by 20% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 24%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Road Wheel Imports

Imports into Argentina

In 2022, purchases abroad of road wheels increased by 21% to X tons, rising for the second year in a row after three years of decline. Overall, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +125.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 86% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, road wheel imports surged to $X in 2022. In general, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +159.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 77% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of road wheel to Argentina, with a 59% share of total imports. Moreover, road wheel imports from Brazil exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sixfold. The third position in this ranking was taken by China (X tons), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+30.7% per year) and China (+0.6% per year).

In value terms, Brazil ($X) constituted the largest supplier of road wheels to Argentina, comprising 58% of total imports. The second position in the ranking was held by Thailand ($X), with a 13% share of total imports. It was followed by China, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+22.8% per year) and China (+4.2% per year).

Import Prices by Country

In 2022, the average road wheel import price amounted to $X per ton, increasing by 21% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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