Latin America and the Caribbean: Market for Drawn Glass And Blown Glass 2024

Market Size for Drawn Glass And Blown Glass in Latin America and the Caribbean

In 2021, the Latin American market for drawn glass and blown glass increased by 2.8% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Drawn Glass And Blown Glass in Latin America and the Caribbean

In value terms, drawn glass and blown glass production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 14%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Drawn Glass And Blown Glass

Exports in Latin America and the Caribbean

In 2021, the amount of drawn glass and blown glass exported in Latin America and the Caribbean surged to X square meters, picking up by 27% on the previous year's figure. In general, exports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 31%. The volume of export peaked at X square meters in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, drawn glass and blown glass exports surged to $X in 2021. Over the period under review, exports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2014 when exports increased by 36%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Guatemala dominates exports structure, finishing at X square meters, which was approx. 66% of total exports in 2021. It was distantly followed by Colombia (X square meters), the Dominican Republic (X square meters) and Brazil (X square meters), together committing a 24% share of total exports. Trinidad and Tobago (X square meters), Costa Rica (X square meters) and El Salvador (X square meters) followed a long way behind the leaders.

Guatemala experienced a relatively flat trend pattern with regard to volume of exports of drawn glass and blown glass. At the same time, Trinidad and Tobago (+25.2%), Colombia (+17.0%), the Dominican Republic (+8.5%) and Costa Rica (+5.6%) displayed positive paces of growth. Moreover, Trinidad and Tobago emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +25.2% from 2012-2021. By contrast, Brazil (-9.6%) and El Salvador (-22.9%) illustrated a downward trend over the same period. While the share of Guatemala (+38 p.p.), Colombia (+7.4 p.p.), the Dominican Republic (+6.4 p.p.), Trinidad and Tobago (+3.3 p.p.) and Costa Rica (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of El Salvador (-7.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guatemala ($X) remains the largest drawn glass and blown glass supplier in Latin America and the Caribbean, comprising 70% of total exports. The second position in the ranking was taken by Colombia ($X), with a 15% share of total exports. It was followed by the Dominican Republic, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Guatemala totaled +7.0%. In the other countries, the average annual rates were as follows: Colombia (+27.4% per year) and the Dominican Republic (+15.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per square meter in 2021, picking up by 5.5% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, drawn glass and blown glass export price increased by +82.4% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 32% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was El Salvador ($X per square meter), while Brazil ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+8.8%), while the other leaders experienced more modest paces of growth.

Imports of Drawn Glass And Blown Glass

Imports in Latin America and the Caribbean

In 2021, approx. X square meters of drawn glass and blown glass were imported in Latin America and the Caribbean; almost unchanged from the previous year's figure. Over the period under review, imports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2015 with an increase of 44% against the previous year. Over the period under review, imports reached the peak figure at X square meters in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, drawn glass and blown glass imports soared to $X in 2021. In general, imports recorded a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Chile represented the main importer of drawn glass and blown glass in Latin America and the Caribbean, with the volume of imports amounting to X square meters, which was approx. 34% of total imports in 2021. The Dominican Republic (X square meters) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Guyana (10%), Peru (7.7%) and Ecuador (6.3%). Colombia (X square meters), Dominica (X square meters), Brazil (X square meters), Venezuela (X square meters), Honduras (X square meters) and Cayman Islands (X square meters) followed a long way behind the leaders.

Imports into Chile increased at an average annual rate of +8.4% from 2012 to 2021. At the same time, Colombia (+27.0%), Dominica (+17.1%), Guyana (+12.7%), Venezuela (+11.6%), Cayman Islands (+8.7%), the Dominican Republic (+6.6%), Honduras (+5.3%) and Ecuador (+1.6%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +27.0% from 2012-2021. By contrast, Peru (-7.0%) and Brazil (-15.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Chile, the Dominican Republic, Guyana, Colombia, Ecuador, Dominica and Venezuela increased by +23, +9.6, +7.7, +2.6, +2.4, +2.3 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported drawn glass and blown glass in Latin America and the Caribbean, comprising 60% of total imports. The second position in the ranking was held by Chile ($X), with a 7.4% share of total imports. It was followed by Dominica, with a 5% share.

From 2012 to 2021, the average annual growth rate of value in the Dominican Republic totaled +23.9%. In the other countries, the average annual rates were as follows: Chile (+9.6% per year) and Dominica (+45.5% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per square meter, with an increase of 112% against the previous year. In general, the import price enjoyed strong growth. As a result, import price attained 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, amid the top importers, the country with the highest price was the Dominican Republic ($X per square meter), while Colombia ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Dominica (+24.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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