Latin America and the Caribbean: Metal Furniture Lock Market 2024

Metal Furniture Lock Market Size in Latin America and the Caribbean

The Latin American metal furniture lock market contracted modestly to $X in 2022, flattening at the previous year. Overall, consumption continues to indicate a prominent increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Metal Furniture Lock Production in Latin America and the Caribbean

In value terms, metal furniture lock production contracted to $X in 2022 estimated in export price. Overall, production, however, recorded strong growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Metal Furniture Lock Exports

Exports in Latin America and the Caribbean

After three years of growth, shipments abroad of base metal furniture locks decreased by X% to X tons in 2022. Over the period under review, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, metal furniture lock exports declined remarkably to $X in 2022. In general, exports, however, posted modest growth. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell dramatically in the following year.

Exports by Country

Mexico dominates exports structure, resulting at X tons, which was approx. X% of total exports in 2022. Colombia (X tons), Brazil (X tons) and Panama (X tons) took a minor share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of base metal furniture locks. Colombia (X%), Brazil (X%) and Panama (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.) and Colombia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (X p.p.) and Panama (X p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest metal furniture lock supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Colombia, with a X% share.

In Mexico, metal furniture lock exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Colombia (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

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

Metal Furniture Lock Imports

Imports in Latin America and the Caribbean

In 2022, the amount of base metal furniture locks imported in Latin America and the Caribbean contracted slightly to X tons, therefore, remained relatively stable against the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal furniture lock imports amounted to $X in 2022. Overall, imports saw a slight shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Bolivia (X tons), distantly followed by Mexico (X tons), Brazil (X tons), Colombia (X tons), Peru (X tons) and Chile (X tons) represented the largest importers of base metal furniture locks, together generating X% of total imports. The following importers - Guatemala (X tons), Ecuador (X tons), Haiti (X tons), Argentina (X tons) and El Salvador (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bolivia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported base metal furniture locks in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Colombia (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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