Chile: Ball Bearing Market 2024

Ball Bearing Market Size in Chile

In 2021, the Chilean ball bearing market increased by 32% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, saw a relatively flat trend pattern. Ball bearing consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Ball Bearing Exports

Exports from Chile

In 2021, exports of ball bearings from Chile dropped sharply to X tons, which is down by -44.2% against the previous year. Over the period under review, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 when exports increased by 54% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, ball bearing exports contracted markedly to $X in 2021. In general, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 34% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Argentina (X tons), the United States (X tons) and Peru (X tons) were the main destinations of ball bearing exports from Chile, with a combined 63% share of total exports. These countries were followed by Germany, Belgium, Bolivia, Sweden, Canada, Australia and Brazil, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +38.4%), while the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), the United States ($X) and Peru ($X) appeared to be the largest markets for ball bearing exported from Chile worldwide, together comprising 64% of total exports. These countries were followed by Germany, Belgium, Bolivia, Sweden, Canada, Australia and Brazil, which together accounted for a further 30%.

Germany, with a CAGR of +40.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average ball bearing export price amounted to $X per ton, increasing by 16% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2018 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were Canada ($X per ton) and Germany ($X per ton), while the average price for exports to Belgium ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Chile

In 2021, supplies from abroad of ball bearings increased by 20% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 20%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing imports skyrocketed to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main suppliers of ball bearing imports to Chile, together accounting for 59% of total imports. These countries were followed by Sweden, Germany, South Korea, France, Italy, Spain and Brazil, which together accounted for a further 21%.

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 +6.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) constituted the largest ball bearing suppliers to Chile, together accounting for 59% of total imports. These countries were followed by Sweden, Germany, South Korea, France, Italy, Spain and Brazil, which together accounted for a further 21%.

Spain, with a CAGR of +6.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, rising by 9.6% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Brazil ($X per ton) and Spain ($X per ton), while the price for France ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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