Latin America and the Caribbean: Dry-Cleaning Machine Market 2024

Dry-Cleaning Machine Market Size in Latin America and the Caribbean

The Latin American dry-cleaning machine market fell significantly to $X in 2021, which is down by -79.7% against the previous year. Over the period under review, consumption recorded a drastic downturn. As a result, consumption reached the peak level of $X, and then shrank notably in the following year.

Dry-Cleaning Machine Production in Latin America and the Caribbean

In value terms, dry-cleaning machine production surged to $X in 2021 estimated in export price. In general, production, however, faced a deep setback. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Dry-Cleaning Machine Exports

Exports in Latin America and the Caribbean

In 2021, exports of dry-cleaning machines in Latin America and the Caribbean skyrocketed to X units, increasing by 200% against the year before. In general, exports saw a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, dry-cleaning machine exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a deep downturn. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico prevails in exports structure, recording X units, which was approx. 70% of total exports in 2021. It was distantly followed by Brazil (X units), Trinidad and Tobago (X units) and Chile (X units), together comprising a 24% share of total exports. The following exporters - the Dominican Republic (X units) and Guatemala (X units) - each finished at a 6.1% share of total exports.

Mexico was also the fastest-growing in terms of the dry-cleaning machines exports, with a CAGR of +41.7% from 2012 to 2021. At the same time, Brazil (+5.2%) displayed positive paces of growth. Chile, Trinidad and Tobago and Guatemala experienced a relatively flat trend pattern. By contrast, the Dominican Republic (-24.8%) illustrated a downward trend over the same period. While the share of Mexico (+65 p.p.), Trinidad and Tobago (+9.1 p.p.), Brazil (+9.1 p.p.) and Chile (+6.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Guatemala (-2 p.p.) and the Dominican Republic (-62 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest dry-cleaning machine supplier in Latin America and the Caribbean, comprising 75% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 5.6% share of total exports. It was followed by Trinidad and Tobago, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value in Mexico amounted to +26.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (-12.5% per year) and Trinidad and Tobago (0.0% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, shrinking by -13.1% against the previous year. Overall, the export price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 an increase of 14%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices remained at a 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 Guatemala ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (-7.0%), while the other leaders experienced a decline in the export price figures.

Dry-Cleaning Machine Imports

Imports in Latin America and the Caribbean

Dry-cleaning machine imports fell markedly to X units in 2021, which is down by -81.8% compared with the previous year's figure. Overall, imports showed a noticeable slump. The most prominent rate of growth was recorded in 2020 with an increase of 1,031% against the previous year. As a result, imports reached the peak of X units, and then dropped rapidly in the following year.

In value terms, dry-cleaning machine imports plummeted to $X in 2021. In general, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2020 when imports increased by 23%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Bolivia (X units) was the main importer of dry-cleaning machines, generating 48% of total imports. It was distantly followed by Cuba (X units) and the Dominican Republic (X units), together committing a 19% share of total imports. Chile (X units), Mexico (X units), Brazil (X units), Honduras (X units), Argentina (X units), Colombia (X units), Venezuela (X units) and Anguilla (X units) followed a long way behind the leaders.

Bolivia was also the fastest-growing in terms of the dry-cleaning machines imports, with a CAGR of +29.8% from 2012 to 2021. At the same time, Cuba (+22.4%), the Dominican Republic (+11.4%) and Honduras (+10.1%) displayed positive paces of growth. Anguilla experienced a relatively flat trend pattern. By contrast, Venezuela (-5.7%), Colombia (-10.8%), Mexico (-15.3%), Argentina (-18.5%), Chile (-19.1%) and Brazil (-19.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Bolivia, Cuba, the Dominican Republic, Honduras and Anguilla increased by +45, +11, +4.6, +2.3 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and the Dominican Republic ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 53% of total imports. These countries were followed by Venezuela, Chile, Anguilla, Argentina, Colombia, Cuba, Bolivia and Honduras, which together accounted for a further 31%.

Bolivia, with a CAGR of +37.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, jumping by 315% against the previous year. Over the period under review, the import price, however, showed a abrupt slump. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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