Guatemala: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Guatemala

In 2022, the Guatemalan steel stranded wire market increased by 16% to $X, rising for the second consecutive year after two years of decline. Overall, consumption saw measured growth. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Steel Stranded Wire Exports

Exports from Guatemala

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were exported from Guatemala; increasing by 84% against 2021. Over the period under review, exports, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 98% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, steel stranded wire exports surged to $X in 2022. Overall, exports posted a slight expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 94%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

El Salvador (X tons) was the main destination for steel stranded wire exports from Guatemala, with a 61% share of total exports. Moreover, steel stranded wire exports to El Salvador exceeded the volume sent to the second major destination, Costa Rica (X tons), twofold. The third position in this ranking was taken by Honduras (X tons), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador totaled +33.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+7.1% per year) and Honduras (-13.1% per year).

In value terms, El Salvador ($X) remains the key foreign market for iron or steel stranded wire, ropes and cables exports from Guatemala, comprising 64% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 25% share of total exports. It was followed by Honduras, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador totaled +31.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+4.3% per year) and Honduras (-9.3% per year).

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, dropping by -7.6% against the previous year. In general, the export price, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2015 an increase of 61% 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 stood at a somewhat 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 Nicaragua ($X per ton), while the average price for exports to Honduras ($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 (+21.6%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Guatemala

In 2022, the amount of iron or steel stranded wire, ropes and cables imported into Guatemala rose sharply to X tons, with an increase of 12% against the year before. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 58%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, steel stranded wire imports skyrocketed to $X in 2022. Overall, imports saw a temperate expansion. The pace of growth appeared the most rapid in 2013 with an increase of 57% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel stranded wire to Guatemala, accounting for a 75% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), ninefold. The third position in this ranking was taken by Portugal (X tons), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-3.1% per year) and Portugal (+11.5% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel stranded wire, ropes and cables to Guatemala, comprising 58% of total imports. The second position in the ranking was held by Mexico ($X), with a 9.1% share of total imports. It was followed by the United States, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+9.9% per year) and the United States (-5.0% per year).

Import Prices by Country

The average steel stranded wire import price stood at $X per ton in 2022, increasing by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 23% against the previous year. The import price peaked in 2022 and is expected to retain 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 the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform