Guatemala: Cold-Rolled Steel Products Market 2025

Cold-Rolled Steel Products Market Size in Guatemala

The Guatemalan cold-rolled steel products market reduced to $X in 2022, which is down by -9.7% 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, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +59.9% against 2020 indices. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Cold-Rolled Steel Products Exports

Exports from Guatemala

In 2022, shipments abroad of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 6.4% to X tons, rising for the second year in a row after three years of decline. Overall, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +29.6% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 71%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, cold-rolled steel products exports soared to $X in 2022. In general, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 71% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

El Salvador (X tons), Honduras (X tons) and Nicaragua (X tons) were the main destinations of cold-rolled steel products exports from Guatemala, with a combined 97% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +9.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X), Honduras ($X) and Nicaragua ($X) constituted the largest markets for cold-rolled steel products exported from Guatemala worldwide, together comprising 96% of total exports.

Honduras, with a CAGR of +12.6%, saw the highest rates of growth with regard to 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 2022, the average cold-rolled steel products export price amounted to $X per ton, growing by 19% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products export price increased by +65.4% against 2018 indices. The growth pace was the most rapid in 2021 when the average export price increased by 40% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Nicaragua ($X per ton) and Costa Rica ($X per ton), while the average price for exports to Honduras ($X per ton) and El Salvador ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Guatemala

In 2022, cold-rolled steel products imports into Guatemala fell remarkably to X tons, with a decrease of -19.3% against the year before. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 34%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, cold-rolled steel products imports contracted to $X in 2022. Overall, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +88.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 98%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

South Korea (X tons), China (X tons) and Japan (X tons) were the main suppliers of cold-rolled steel products imports to Guatemala, together accounting for 75% of total imports. Mexico, Switzerland, India, Russia, Vietnam, Taiwan (Chinese) and El Salvador lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +17.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cold-rolled steel products suppliers to Guatemala were China ($X), Japan ($X) and South Korea ($X), together comprising 69% of total imports. Mexico, India, Taiwan (Chinese), Russia, Switzerland, Vietnam and El Salvador lagged somewhat behind, together comprising a further 27%.

In terms of the main suppliers, Russia, with a CAGR of +22.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cold-rolled steel products import price amounted to $X per ton, jumping by 18% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products import price increased by +74.4% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 48% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

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 India ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform