Latin America and the Caribbean: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in Latin America and the Caribbean

In 2021, the Latin American cored arc-welding wire market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Cored Arc-Welding Wire Production in Latin America and the Caribbean

In value terms, cored arc-welding wire production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 46%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Cored Arc-Welding Wire Exports

Exports in Latin America and the Caribbean

In 2021, the amount of cored arc-welding wire exported in Latin America and the Caribbean rose remarkably to X tons, with an increase of 5.1% compared with the previous year's figure. Overall, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 17%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, cored arc-welding wire exports stood at $X in 2021. In general, exports, however, saw a deep downturn. The growth pace was the most rapid in 2017 with an increase of 15% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Brazil (X tons), distantly followed by Mexico (X tons), the Dominican Republic (X tons), Peru (X tons) and Guatemala (X tons) represented the main exporters of cored arc-welding wire, together constituting 89% of total exports. The following exporters - Argentina (X tons) and Colombia (X tons) - together made up 6.2% of total exports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +61.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest cored arc-welding wire supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Guatemala ($X), together accounting for 78% of total exports. These countries were followed by the Dominican Republic, Colombia, Peru and Argentina, which together accounted for a further 15%.

In terms of the main exporting countries, Peru, with a CAGR of +45.9%, saw 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

The export price in Latin America and the Caribbean stood at $X per ton in 2021, which is down by -3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2014 an increase of 17%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+6.6%), while the other leaders experienced more modest paces of growth.

Cored Arc-Welding Wire Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of cored arc-welding wire were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cored arc-welding wire imports soared to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X tons) was the largest importer of cored arc-welding wire, making up 47% of total imports. Brazil (X tons) took the second position in the ranking, distantly followed by Chile (X tons), Peru (X tons) and Colombia (X tons). All these countries together took approx. 40% share of total imports. Argentina (X tons) and Ecuador (X tons) took a minor share of total imports.

Imports into Mexico increased at an average annual rate of +6.5% from 2012 to 2021. At the same time, Peru (+7.8%), Ecuador (+3.3%), Colombia (+2.3%) and Chile (+1.6%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +7.8% from 2012-2021. Brazil and Argentina experienced a relatively flat trend pattern. From 2012 to 2021, the share of Mexico and Peru increased by +10 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported cored arc-welding wire in Latin America and the Caribbean, comprising 52% of total imports. The second position in the ranking was held by Brazil ($X), with a 17% share of total imports. It was followed by Chile, with an 8.6% share.

In Mexico, cored arc-welding wire imports increased at an average annual rate of +3.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-1.7% per year) and Chile (+1.6% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 3.4% against the previous year. In general, the import price, however, saw a slight contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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