Latin America and the Caribbean: Market for Base Metal Flexible Tubing, Iron Or Steel 2025

Market Size for Base Metal Flexible Tubing, Iron Or Steel in Latin America and the Caribbean

After two years of decline, the Latin American base metal flexible tubing market increased by 18% to $X in 2021. The total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.6% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Base Metal Flexible Tubing, Iron Or Steel in Latin America and the Caribbean

In value terms, base metal flexible tubing production soared to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% 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 -14.2% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports in Latin America and the Caribbean

In 2021, overseas shipments of base metal flexible tubing, iron or steel increased by 40% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 80%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, base metal flexible tubing exports dropped slightly to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 48% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Mexico dominates exports structure, reaching X tons, which was near 93% of total exports in 2021. The following exporters - Guatemala (X tons) and Chile (X tons) - together made up 4.8% of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of base metal flexible tubing, iron or steel. At the same time, Chile (+39.6%) and Guatemala (+31.7%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +39.6% from 2012-2021. While the share of Guatemala (+2.8 p.p.) and Chile (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-4.4 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest base metal flexible tubing supplier in Latin America and the Caribbean, comprising 95% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 0.5% share of total exports.

In Mexico, base metal flexible tubing exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Guatemala (+24.1% per year) and Chile (+7.8% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, with a decrease of -30% against the previous year. In general, the export price continues to indicate a mild reduction. The growth pace was the most rapid in 2016 when the export price increased by 45%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-1.2%), while the other leaders experienced a decline in the export price figures.

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports in Latin America and the Caribbean

In 2021, after six years of decline, there was significant growth in purchases abroad of base metal flexible tubing, iron or steel, when their volume increased by 15% to X tons. In general, imports, however, continue to indicate a slight curtailment. The growth pace was the most rapid in 2013 with an increase of 32% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, base metal flexible tubing imports soared to $X in 2021. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico was the largest importer of base metal flexible tubing, iron or steel in Latin America and the Caribbean, with the volume of imports accounting for X tons, which was near 42% of total imports in 2021. Colombia (X tons) took an 8.7% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (8.7%), Chile (6.5%) and Costa Rica (5.6%). Argentina (X tons), Peru (X tons), Guatemala (X tons), Uruguay (X tons), Ecuador (X tons), the Dominican Republic (X tons) and Panama (X tons) took a minor share of total imports.

Imports into Mexico decreased at an average annual rate of -1.7% from 2012 to 2021. At the same time, Costa Rica (+6.3%), Uruguay (+5.6%), the Dominican Republic (+3.2%), Argentina (+2.9%) and Colombia (+1.3%) 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 +6.3% from 2012-2021. Panama, Ecuador, Guatemala, Brazil and Peru experienced a relatively flat trend pattern. By contrast, Chile (-8.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Costa Rica and Colombia increased by +2.7 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported base metal flexible tubing, iron or steel in Latin America and the Caribbean, comprising 44% of total imports. The second position in the ranking was held by Brazil ($X), with a 13% share of total imports. It was followed by Argentina, with a 7.3% share.

In Mexico, base metal flexible tubing imports increased at an average annual rate of +1.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+3.5% per year) and Argentina (+3.5% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, jumping by 27% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Argentina ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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