Ecuador: Metal Hammer Market 2024

Metal Hammer Market Size in Ecuador

The Ecuadorian metal hammer market dropped to $X in 2022, which is down by -14.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a pronounced reduction. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Metal Hammer Exports

Exports from Ecuador

In 2022, approx. X kg of hammers and sledge hammers with working part of metal were exported from Ecuador; waning by -23.4% on the previous year. Overall, exports saw a slight descent. The most prominent rate of growth was recorded in 2021 when exports increased by 719%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal hammer exports reduced rapidly to $X in 2022. Over the period under review, exports recorded a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 745%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X kg) was the main destination for metal hammer exports from Ecuador, with a 86% share of total exports. Moreover, metal hammer exports to Guatemala exceeded the volume sent to the second major destination, Mexico (X kg), more than tenfold. The third position in this ranking was taken by El Salvador (X kg), with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guatemala amounted to +47.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+23.1% per year) and El Salvador (-5.7% per year).

In value terms, Guatemala ($X) remains the key foreign market for hammers and sledge hammers with working part of metal exports from Ecuador, comprising 82% of total exports. The second position in the ranking was taken by Mexico ($X), with a 10% share of total exports. It was followed by El Salvador, with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guatemala amounted to +30.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+17.7% per year) and El Salvador (-17.7% per year).

Export Prices by Country

In 2022, the average metal hammer export price amounted to $X per ton, reducing by -27.3% against the previous year. Over the period under review, the export price saw a deep slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 28% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to El Salvador ($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 Mexico (-4.4%), while the prices for the other major destinations experienced a decline.

Metal Hammer Imports

Imports into Ecuador

In 2022, the amount of hammers and sledge hammers with working part of metal imported into Ecuador fell to X tons, reducing by -13.7% on the previous year. In general, imports saw a noticeable shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 48%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, metal hammer imports shrank to $X in 2022. Over the period under review, imports continue to indicate a noticeable reduction. The growth pace was the most rapid in 2018 with an increase of 43% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Colombia (X tons) and Mexico (X tons) were the main suppliers of metal hammer imports to Ecuador, together accounting for 90% of total imports. Brazil and the United States lagged somewhat behind, together comprising a further 7.9%.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +2.4%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), Colombia ($X) and the United States ($X) constituted the largest metal hammer suppliers to Ecuador, together accounting for 86% of total imports.

Among the main suppliers, China, with a CAGR of -0.3%, recorded 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

The average metal hammer import price stood at $X per ton in 2022, leveling off at the previous year. Overall, the import price recorded a slight descent. The most prominent rate of growth was recorded in 2019 when the average import price increased by 4.7% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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