Guatemala: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in Guatemala

The Guatemalan non-alloy steel u-section market expanded slightly to $X in 2022, increasing by 3.7% against the previous year. In general, consumption, however, continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2020 with an increase of 7.9%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Non-Alloy Steel U-Section Production in Guatemala

In value terms, non-alloy steel u-section production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable reduction. The growth pace was the most rapid in 2020 with an increase of 8.2% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Non-Alloy Steel U-Section Exports

Exports from Guatemala

In 2022, the amount of u-sections of non-alloy steel exported from Guatemala declined to X tons, falling by -10.3% against the year before. Over the period under review, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 140%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-alloy steel u-section exports totaled $X in 2022. In general, exports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 175%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

El Salvador (X tons), Honduras (X tons) and Nicaragua (X tons) were the main destinations of non-alloy steel u-section exports from Guatemala, with a combined 94% share of total exports. Belize and Costa Rica lagged somewhat behind, together comprising a further 6.3%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belize (with a CAGR of +19.7%), while 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 non-alloy steel u-section exported from Guatemala worldwide, with a combined 93% share of total exports. Belize and Costa Rica lagged somewhat behind, together comprising a further 7.4%.

Belize, with a CAGR of +24.8%, recorded 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

The average non-alloy steel u-section export price stood at $X per ton in 2022, with an increase of 17% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section export price increased by +61.9% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 38%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Belize ($X per ton) and Nicaragua ($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 (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Alloy Steel U-Section Imports

Imports into Guatemala

In 2022, purchases abroad of u-sections of non-alloy steel increased by 11% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 101%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, non-alloy steel u-section imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 135%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest non-alloy steel u-section supplier to Guatemala, accounting for a 57% share of total imports. Moreover, non-alloy steel u-section imports from Turkey exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 21% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-10.5% per year) and China (+1.5% per year).

In value terms, Turkey ($X) constituted the largest supplier of u-sections of non-alloy steel to Guatemala, comprising 54% of total imports. The second position in the ranking was taken by Mexico ($X), with a 23% share of total imports. It was followed by China, with a 22% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey totaled +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-9.0% per year) and China (+5.9% per year).

Import Prices by Country

The average non-alloy steel u-section import price stood at $X per ton in 2022, rising by 9.8% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section import price increased by +69.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 54% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and China ($X per ton), while the price for Turkey ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+30.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform