Latin America and the Caribbean: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in the Latin American conveyor or transmission belt market, when its value increased by 12% to $X. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Conveyor Or Transmission Belts Or Belting in Latin America and the Caribbean

In value terms, conveyor or transmission belt production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in Latin America and the Caribbean

In 2021, exports of conveyor or transmission belts or belting in Latin America and the Caribbean expanded rapidly to X tons, picking up by 6.2% on 2020. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 15%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, conveyor or transmission belt exports rose slightly to $X in 2021. Overall, exports, however, continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 11% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico represented the largest exporting country with an export of around X tons, which finished at 60% of total exports. It was distantly followed by Brazil (X tons) and Chile (X tons), together making up a 36% share of total exports. Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to conveyor or transmission belt exports from Mexico stood at -1.9%. At the same time, Chile (+9.3%) and Brazil (+4.5%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +9.3% from 2012-2021. By contrast, Argentina (-12.3%) illustrated a downward trend over the same period. Brazil (+8 p.p.) and Chile (+7.2 p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Mexico saw its share reduced by -3.8% and -8.8% from 2012 to 2021, respectively.

In value terms, Mexico ($X) remains the largest conveyor or transmission belt supplier in Latin America and the Caribbean, comprising 73% of total exports. The second position in the ranking was taken by Brazil ($X), with a 21% share of total exports. It was followed by Argentina, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico was relatively modest. In the other countries, the average annual rates were as follows: Brazil (-0.1% per year) and Argentina (-18.0% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, waning by -2.5% against the previous year. Over the period under review, the export price saw a slight decrease. The growth pace was the most rapid in 2015 when the export price increased by 16%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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 Argentina ($X per ton), while Chile ($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 (+2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Conveyor Or Transmission Belts Or Belting

Imports in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in overseas purchases of conveyor or transmission belts or belting, when their volume increased by 22% to X tons. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, conveyor or transmission belt imports surged to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X tons), distantly followed by Chile (X tons), Mexico (X tons), Peru (X tons) and Argentina (X tons) represented the main importers of conveyor or transmission belts or belting, together creating 82% of total imports. Colombia (X tons) and Ecuador (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Peru (with a CAGR of +8.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2021, with a combined 61% share of total imports. These countries were followed by Peru, Argentina, Colombia and Ecuador, which together accounted for a further 24%.

In terms of the main importing countries, Peru, with a CAGR of +3.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 4.2% against the previous year. Overall, the import price, however, recorded a slight reduction. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ecuador ($X per ton), while Peru ($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 (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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