Ecuador: Iron Angle Market 2024

Iron Angle Market Size in Ecuador

In 2021, the Ecuadorian iron angle market decreased by -3.4% to $X, falling for the second year in a row after three years of growth. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Iron Angle Production in Ecuador

In value terms, iron angle production fell slightly to $X in 2021 estimated in export price. Overall, production continues to indicate a mild contraction. The pace of growth was the most pronounced in 2014 when the production volume increased by 48% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Iron Angle Exports

Exports from Ecuador

In 2021, shipments abroad of angles, shapes and sections (of iron or non-alloy steel) increased by 46% to X tons, rising for the second year in a row after two years of decline. In general, exports recorded a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 204% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, iron angle exports soared to $X in 2021. Overall, exports showed a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 156%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Bolivia (X tons) was the main destination for iron angle exports from Ecuador, with a 86% share of total exports. Moreover, iron angle exports to Bolivia exceeded the volume sent to the second major destination, Chile (X tons), more than tenfold. Colombia (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bolivia stood at +30.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-9.4% per year) and Colombia (+10.3% per year).

In value terms, Bolivia ($X) remains the key foreign market for angles, shapes and sections (of iron or non-alloy steel) exports from Ecuador, comprising 78% of total exports. The second position in the ranking was held by Chile ($X), with a 15% share of total exports. It was followed by Colombia, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value to Bolivia amounted to +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+1.3% per year) and Colombia (+16.3% per year).

Export Prices by Country

In 2021, the average iron angle export price amounted to $X per ton, growing by 34% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Angle Imports

Imports into Ecuador

In 2021, imports of angles, shapes and sections (of iron or non-alloy steel) into Ecuador shrank significantly to X tons, waning by -38.6% on the previous year's figure. In general, imports recorded a drastic downturn. The growth pace was the most rapid in 2017 when imports increased by 165% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, iron angle imports reduced markedly to $X in 2021. Overall, imports faced a abrupt decline. The pace of growth appeared the most rapid in 2017 when imports increased by 159% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of iron angle to Ecuador, accounting for a 32% share of total imports. Moreover, iron angle imports from Turkey exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was taken by Peru (X tons), with a 9% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at -14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-26.1% per year) and Peru (+14.0% per year).

In value terms, the largest iron angle suppliers to Ecuador were Turkey ($X), Peru ($X) and Spain ($X), together accounting for 48% of total imports.

In terms of the main suppliers, Peru, with a CAGR of +16.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average iron angle import price amounted to $X per ton, jumping by 19% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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