Latin America and the Caribbean: Stainless Steel Angle Market 2024

Stainless Steel Angle Market Size in Latin America and the Caribbean

The Latin American stainless steel angle market soared to $X in 2021, with an increase of 67% against the previous year. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Stainless Steel Angle Production in Latin America and the Caribbean

In value terms, stainless steel angle production rose markedly to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.4% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 27% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Stainless Steel Angle Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of angles, shapes and sections of stainless steel or other alloy steel increased by 50% to X tons, rising for the third consecutive year after two years of decline. In general, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 347%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, stainless steel angle exports surged to $X in 2021. Overall, exports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2014 with an increase of 167%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Costa Rica prevails in exports structure, amounting to X tons, which was near 87% of total exports in 2021. Mexico (X tons) and Trinidad and Tobago (X tons) followed a long way behind the leaders.

Costa Rica was also the fastest-growing in terms of the angles, shapes and sections of stainless steel or other alloy steel exports, with a CAGR of +46.4% from 2012 to 2021. At the same time, Trinidad and Tobago (+7.9%) displayed positive paces of growth. By contrast, Mexico (-30.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Costa Rica and Trinidad and Tobago increased by +85 and +1.8 percentage points, respectively.

In value terms, Costa Rica ($X) emerged as the largest stainless steel angle supplier in Latin America and the Caribbean, comprising 83% of total exports. The second position in the ranking was taken by Trinidad and Tobago ($X), with a 6% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Costa Rica totaled +41.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Trinidad and Tobago (+16.5% per year) and Mexico (-31.0% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 5.5% against the previous year. Overall, the export price, however, showed a slight slump. The most prominent rate of growth was recorded in 2016 when the export price increased by 32% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+8.0%), while the other leaders experienced a decline in the export price figures.

Stainless Steel Angle Imports

Imports in Latin America and the Caribbean

In 2021, the amount of angles, shapes and sections of stainless steel or other alloy steel imported in Latin America and the Caribbean skyrocketed to X tons, increasing by 90% against the previous year. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, stainless steel angle imports skyrocketed to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the main importing country with an import of about X tons, which reached 56% of total imports. Brazil (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Costa Rica (9.8%). The following importers - Colombia (X tons), Ecuador (X tons), Chile (X tons), Guatemala (X tons), Venezuela (X tons) and Peru (X tons) - together made up 15% of total imports.

From 2012 to 2021, average annual rates of growth with regard to stainless steel angle imports into Mexico stood at +12.5%. At the same time, Costa Rica (+41.0%), Guatemala (+33.8%), Colombia (+9.8%) and Venezuela (+7.5%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +41.0% from 2012-2021. Brazil and Chile experienced a relatively flat trend pattern. By contrast, Ecuador (-10.1%) and Peru (-15.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico, Costa Rica and Guatemala increased by +25, +9.1 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported angles, shapes and sections of stainless steel or other alloy steel in Latin America and the Caribbean, comprising 54% of total imports. The second position in the ranking was taken by Brazil ($X), with a 15% share of total imports. It was followed by Costa Rica, with a 7.2% share.

In Mexico, stainless steel angle imports expanded at an average annual rate of +11.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-1.4% per year) and Costa Rica (+33.6% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 7.9% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 14% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Chile ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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