Guatemala: Metal Chain Market 2024

Metal Chain Market Size in Guatemala

The Guatemalan metal chain market totaled $X in 2022, with an increase of 5.7% 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, consumption saw a deep contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Metal Chain Exports

Exports from Guatemala

After two years of decline, overseas shipments of iron or steel chain increased by 42% to X kg in 2022. In general, exports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 269%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, metal chain exports soared to $X in 2022. Overall, exports, however, faced a deep downturn. The growth pace was the most rapid in 2017 when exports increased by 295% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Panama (X kg) was the main destination for metal chain exports from Guatemala, with a 70% share of total exports. Moreover, metal chain exports to Panama exceeded the volume sent to the second major destination, El Salvador (X kg), twofold.

From 2012 to 2022, the average annual growth rate of volume to Panama stood at -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-2.9% per year) and Nicaragua (-30.7% per year).

In value terms, Panama ($X) emerged as the key foreign market for iron or steel chain exports from Guatemala, comprising 80% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Panama totaled +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-9.4% per year) and Nicaragua (-17.2% per year).

Export Prices by Country

The average metal chain export price stood at $X per ton in 2022, with a decrease of -11.2% against the previous year. Overall, the export price, however, enjoyed a notable increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 388% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to El Salvador ($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 Nicaragua (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Chain Imports

Imports into Guatemala

In 2022, approx. X tons of iron or steel chain were imported into Guatemala; falling by -10% against the previous year. Overall, imports showed a abrupt descent. The growth pace was the most rapid in 2016 with an increase of 25% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, metal chain imports soared to $X in 2022. Over the period under review, imports saw a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of 33% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal chain to Guatemala, accounting for a 71% share of total imports. Moreover, metal chain imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +23.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-17.3% per year) and Italy (+11.3% per year).

In value terms, China ($X), the United States ($X) and Italy ($X) appeared to be the largest metal chain suppliers to Guatemala, together accounting for 88% of total imports.

In terms of the main suppliers, China, with a CAGR of +25.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average metal chain import price amounted to $X per ton, picking up by 36% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 93% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform