Latin America and the Caribbean: Metal Castor Mounting Market 2024

Metal Castor Mounting Market Size in Latin America and the Caribbean

In 2022, the Latin American metal castor mounting market increased by 4.8% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Metal Castor Mounting Production in Latin America and the Caribbean

In value terms, metal castor mounting production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, saw a mild slump. The pace of growth appeared the most rapid in 2020 when the production volume increased by 48% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Metal Castor Mounting Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of castors with mountings of base metal increased by 12% to X tons, rising for the seventh consecutive year after two years of decline. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.2% against 2015 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 14% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, metal castor mounting exports rose rapidly to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 32%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Panama represented the major exporter of castors with mountings of base metal in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was approx. 40% of total exports in 2022. Mexico (X tons) held the second position in the ranking, distantly followed by Brazil (X tons) and Chile (X tons). All these countries together took approx. 51% share of total exports. Colombia (X tons), El Salvador (X tons) and Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of +16.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Panama ($X) were the countries with the highest levels of exports in 2022, with a combined 76% share of total exports. Chile, Colombia, Argentina and El Salvador lagged somewhat behind, together accounting for a further 22%.

In terms of the main exporting countries, El Salvador, with a CAGR of +12.7%, 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 2022, which is down by -3.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 16%. The level of export peaked at $X per ton in 2014; however, from 2015 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 Brazil ($X per ton), while Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Metal Castor Mounting Imports

Imports in Latin America and the Caribbean

In 2022, the amount of castors with mountings of base metal imported in Latin America and the Caribbean declined to X tons, which is down by -9.3% on the year before. In general, imports, however, saw a strong increase. The growth pace was the most rapid in 2021 with an increase of 69% against the previous year. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, metal castor mounting imports reached $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +54.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 54%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Mexico was the key importer of castors with mountings of base metal in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was near 31% of total imports in 2022. It was distantly followed by Brazil (X tons), Peru (X tons), Bolivia (X tons), Colombia (X tons), Argentina (X tons) and Chile (X tons), together mixing up a 53% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to metal castor mounting imports into Mexico stood at +8.3%. At the same time, Bolivia (+24.6%), Argentina (+9.8%), Colombia (+9.3%), Peru (+5.9%), Chile (+3.3%) and Brazil (+1.7%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +24.6% from 2012-2022. While the share of Bolivia (+7.8 p.p.), Mexico (+4.1 p.p.), Colombia (+1.8 p.p.) and Argentina (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (-1.9 p.p.) and Brazil (-7.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported castors with mountings of base metal in Latin America and the Caribbean, comprising 40% of total imports. The second position in the ranking was taken by Brazil ($X), with a 13% share of total imports. It was followed by Argentina, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to +8.2%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+1.6% per year) and Argentina (+12.3% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by 11% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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