Latin America and the Caribbean: Inflator System Airbag Market 2024

Inflator System Airbag Market Size in Latin America and the Caribbean

The Latin American inflator system airbag market declined remarkably to $X in 2022, which is down by -22% against the previous year. Overall, consumption, however, recorded a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped notably in the following year.

Inflator System Airbag Production in Latin America and the Caribbean

In value terms, inflator system airbag production contracted modestly to $X in 2022 estimated in export price. In general, production, however, saw prominent growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 34%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Inflator System Airbag Exports

Exports in Latin America and the Caribbean

In 2022, after two years of decline, there was significant growth in shipments abroad of airbags with inflator system and parts thereof, when their volume increased by 25% to X tons. Total exports indicated noticeable growth from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2015 when exports increased by 27%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, inflator system airbag exports rose markedly to $X in 2022. Total exports indicated a mild expansion from 2012 to 2022: its value 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. The pace of growth appeared the most rapid in 2013 with an increase of 21%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico dominates exports structure, finishing at X tons, which was approx. 96% of total exports in 2022. Brazil (X tons) held a minor share of total exports.

Exports from Mexico increased at an average annual rate of +2.3% from 2012 to 2022. At the same time, Brazil (+10.3%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +10.3% from 2012-2022. While the share of Mexico (-2.5 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest inflator system airbag supplier in Latin America and the Caribbean, comprising 95% of total exports. The second position in the ranking was taken by Brazil ($X), with a 2.9% share of total exports.

In Mexico, inflator system airbag exports expanded at an average annual rate of +1.1% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, which is down by -8.7% against the previous year. Over the period under review, the export price showed a slight contraction. The growth pace was the most rapid in 2021 when the export price increased by 9.2%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Mexico totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-1.1%).

Inflator System Airbag Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of airbags with inflator system and parts thereof were imported in Latin America and the Caribbean; growing by 12% compared with 2021. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 16% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, inflator system airbag imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 14%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Mexico was the key importer of airbags with inflator system and parts thereof in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was approx. 76% of total imports in 2022. Brazil (X tons) ranks second in terms of the total imports with a 16% share, followed by Argentina (5.9%).

Imports into Mexico increased at an average annual rate of +3.0% from 2012 to 2022. At the same time, Brazil (+7.9%) and Argentina (+4.8%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +7.9% from 2012-2022. Brazil (+5.2 p.p.) significantly strengthened its position in terms of the total imports, while Mexico saw its share reduced by -6.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported airbags with inflator system and parts thereof in Latin America and the Caribbean, comprising 74% of total imports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total imports.

In Mexico, inflator system airbag imports increased at an average annual rate of +1.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+8.9% per year) and Argentina (+5.4% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, shrinking by -5.7% against the previous year. Overall, the import price showed a slight reduction. The most prominent rate of growth was recorded in 2020 when the import price increased by 1.5% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+0.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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