Ecuador: Hot-Dipped Metal-Coated Sheet Market 2024

Hot-Dipped Metal-Coated Sheet Market Size in Ecuador

The Ecuadorian hot-dipped metal-coated sheet market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption continues to indicate buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Hot-Dipped Metal-Coated Sheet Exports

Exports from Ecuador

Hot-dipped metal-coated sheet exports from Ecuador skyrocketed to X tons in 2021, growing by 76% on the year before. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 158% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, hot-dipped metal-coated sheet exports skyrocketed to $X in 2021. Overall, exports posted strong growth. The pace of growth was the most pronounced in 2019 when exports increased by 185%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Colombia (X tons) was the main destination for hot-dipped metal-coated sheet exports from Ecuador, with a 89% share of total exports. Moreover, hot-dipped metal-coated sheet exports to Colombia exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold. China (X tons) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Colombia stood at +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+18.0% per year) and China (0.0% per year).

In value terms, Colombia ($X) remains the key foreign market for hot-dipped metal-coated sheet exports from Ecuador, comprising 81% of total exports. The second position in the ranking was held by Mexico ($X), with a 14% share of total exports. It was followed by China, with a 1.3% share.

From 2012 to 2021, the average annual growth rate of value to Colombia stood at +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+2.5% per year) and China (0.0% per year).

Export Prices by Country

In 2021, the average hot-dipped metal-coated sheet export price amounted to $X per ton, which is down by -31.7% against the previous year. In general, the export price, however, showed strong growth. The most prominent rate of growth was recorded in 2014 an increase of 76% against the previous year. The export price peaked at $X per ton in 2020, and then shrank dramatically in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Mexico ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Colombia (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Dipped Metal-Coated Sheet Imports

Imports into Ecuador

After three years of decline, supplies from abroad of hot-dipped metal-coated sheet increased by 64% to X tons in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +9.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 66% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, hot-dipped metal-coated sheet imports skyrocketed to $X in 2021. In general, imports saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of hot-dipped metal-coated sheet to Ecuador, accounting for a 81% share of total imports. Moreover, hot-dipped metal-coated sheet imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-8.1% per year) and South Korea (+1.8% per year).

In value terms, China ($X) constituted the largest supplier of hot-dipped metal-coated sheet to Ecuador, comprising 83% of total imports. The second position in the ranking was held by India ($X), with a 6.7% share of total imports. It was followed by South Korea, with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-6.3% per year) and South Korea (-1.3% per year).

Import Prices by Country

The average hot-dipped metal-coated sheet import price stood at $X per ton in 2021, picking up by 40% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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