Guatemala: Market for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines 2024

Market Size for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in Guatemala

The Guatemalan market for line pipe of steel other than stainless steel for oil or gas pipelines skyrocketed to $X in 2022, growing by 33% 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). Overall, consumption saw prominent growth. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Exports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Exports from Guatemala

In 2022, overseas shipments of line pipe of steel other than stainless steel for oil or gas pipelines increased by 15% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports saw a perceptible increase. The growth pace was the most rapid in 2015 with an increase of 152%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of line pipe of steel other than stainless steel for oil or gas pipelines soared to $X in 2022. In general, exports recorded buoyant growth. The pace of growth was the most pronounced in 2015 when exports increased by 101%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Honduras (X tons), Nicaragua (X tons) and El Salvador (X tons) were the main destinations of exports of line pipe of steel other than stainless steel for oil or gas pipelines from Guatemala, with a combined 82% share of total exports. Costa Rica and Belize lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for Belize (with a CAGR of +25.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for line pipe of steel other than stainless steel for oil or gas pipelines exported from Guatemala were Nicaragua ($X), Honduras ($X) and El Salvador ($X), together comprising 82% of total exports. Costa Rica and Belize lagged somewhat behind, together comprising a further 18%.

In terms of the main countries of destination, Belize, with a CAGR of +30.4%, recorded the highest growth rate of the value of exports, 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 export price for line pipe of steel other than stainless steel for oil or gas pipelines amounted to $X per ton, with an increase of 18% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for line pipe of steel other than stainless steel for oil or gas pipelines increased by +56.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 33% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Nicaragua ($X per ton) and Belize ($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 Belize (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Imports into Guatemala

In 2022, approx. X tons of line pipe of steel other than stainless steel for oil or gas pipelines were imported into Guatemala; with an increase of 31% on the previous year. Overall, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by 70% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of line pipe of steel other than stainless steel for oil or gas pipelines surged to $X in 2022. Over the period under review, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 104%. Over the period under review, imports of hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of line pipe of steel other than stainless steel for oil or gas pipelines to Guatemala, with a 96% share of total imports. It was followed by Mexico (X tons), with a 2.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+52.0% per year) and the United States (-29.6% per year).

In value terms, China ($X) constituted the largest supplier of line pipe of steel other than stainless steel for oil or gas pipelines to Guatemala, comprising 92% of total imports. The second position in the ranking was held by Mexico ($X), with a 4.8% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+53.8% per year) and the United States (-22.3% per year).

Import Prices by Country

The average import price for line pipe of steel other than stainless steel for oil or gas pipelines stood at $X per ton in 2022, waning by -8.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 44%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform