Latin America and the Caribbean: Market for Wood Boxes, Crates and Cable Drums 2024

Market Size for Wood Boxes, Crates and Cable Drums in Latin America and the Caribbean

The Latin American market for wood boxes, crates and cable drums rose slightly to $X in 2022, picking up by 2% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.6% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Wood Boxes, Crates and Cable Drums in Latin America and the Caribbean

In value terms, wood box and cable drum production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production recorded prominent growth. The growth pace was the most rapid in 2014 with an increase of 34% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Wood Boxes, Crates and Cable Drums

Exports in Latin America and the Caribbean

Wood box and cable drum exports skyrocketed to X units in 2022, picking up by 79% against the previous year. Overall, exports saw notable growth. The most prominent rate of growth was recorded in 2014 when exports increased by 87%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, wood box and cable drum exports surged to $X in 2022. In general, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 30% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Chile dominates exports structure, reaching X units, which was near 86% of total exports in 2022. Brazil (X units) held the second position in the ranking, followed by Mexico (X units). All these countries together took near 13% share of total exports.

Exports from Chile increased at an average annual rate of +3.0% from 2012 to 2022. At the same time, Mexico (+6.8%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +6.8% from 2012-2022. Brazil experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mexico increased by +1.7 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood box and cable drum supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Chile ($X), with a combined 95% share of total exports.

In terms of the main exporting countries, Mexico, with a CAGR of +13.4%, recorded 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

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, falling by -27.7% against the previous year. Overall, the export price, however, showed a measured increase. The most prominent rate of growth was recorded in 2015 when the export price increased by 70% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+6.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Wood Boxes, Crates and Cable Drums

Imports in Latin America and the Caribbean

In 2022, approx. X units of wood boxes, crates and cable drums were imported in Latin America and the Caribbean; which is down by -2.9% compared with the year before. In general, imports showed a perceptible decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 52%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, wood box and cable drum imports surged to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.4% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 32% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Peru was the key importing country with an import of about X units, which reached 56% of total imports. It was distantly followed by Mexico (X units), Chile (X units) and Nicaragua (X units), together generating a 25% share of total imports. The following importers - Brazil (X units), the Dominican Republic (X units) and Argentina (X units) - each recorded a 9.2% share of total imports.

Peru experienced a relatively flat trend pattern with regard to volume of imports of wood boxes, crates and cable drums. At the same time, Nicaragua (+46.7%), the Dominican Republic (+7.4%) and Mexico (+3.8%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +46.7% from 2012-2022. By contrast, Chile (-8.3%), Brazil (-8.6%) and Argentina (-24.3%) illustrated a downward trend over the same period. While the share of Peru (+15 p.p.), Mexico (+7 p.p.), Nicaragua (+6 p.p.) and the Dominican Republic (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (-2.3 p.p.), Chile (-3.8 p.p.) and Argentina (-25.2 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) constitutes the largest market for imported wood boxes, crates and cable drums in Latin America and the Caribbean, comprising 38% of total imports. The second position in the ranking was held by Nicaragua ($X), with a 17% share of total imports. It was followed by Peru, with a 9.1% share.

In Mexico, wood box and cable drum imports expanded at an average annual rate of +6.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nicaragua (+47.0% per year) and Peru (+4.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, jumping by 23% against the previous year. In general, the import price saw a resilient increase. The pace of growth was the most pronounced in 2017 when the import price increased by 104% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+19.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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