Latin America and the Caribbean: Endless Machinery Band Market 2024

Endless Machinery Band Market Size in Latin America and the Caribbean

The Latin American endless machinery band market soared to $X in 2021, increasing by 17% against the previous year. The market value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Endless Machinery Band Production in Latin America and the Caribbean

In value terms, endless machinery band production amounted to $X in 2021 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +7.3% against 2018 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 33% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Endless Machinery Band Exports

Exports in Latin America and the Caribbean

Endless machinery band exports shrank sharply to X square meters in 2021, with a decrease of -27.2% against the previous year. Overall, exports recorded a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of 8.8%. Over the period under review, the exports reached the maximum at X square meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, endless machinery band exports declined to $X in 2021. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 64%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Mexico (X square meters), distantly followed by Guatemala (X square meters), Brazil (X square meters), Costa Rica (X square meters) and the Dominican Republic (X square meters) were the major exporters of endless bands for machinery, of stainless steel, together making up 92% of total exports. The following exporters - Panama (X square meters) and Chile (X square meters) - each amounted to a 3.7% share of total exports.

From 2012 to 2021, the biggest increases were in Guatemala (with a CAGR of +30.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Mexico ($X), Brazil ($X) and Guatemala ($X) were the countries with the highest levels of exports in 2021, with a combined 86% share of total exports.

Among the main exporting countries, Guatemala, with a CAGR of +23.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per square meter in 2021, with an increase of 26% against the previous year. In general, the export price continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2018 an increase of 80%. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Brazil ($X per square meter), while the Dominican Republic ($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 Panama (+19.5%), while the other leaders experienced more modest paces of growth.

Endless Machinery Band Imports

Imports in Latin America and the Caribbean

In 2021, the amount of endless bands for machinery, of stainless steel imported in Latin America and the Caribbean rose significantly to X square meters, picking up by 14% on the year before. Over the period under review, imports showed a relatively flat trend pattern. The volume of import peaked at X square meters in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, endless machinery band imports soared to $X in 2021. In general, imports saw a relatively flat trend pattern. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Mexico (X square meters) was the major importer of endless bands for machinery, of stainless steel, committing 49% of total imports. It was distantly followed by Ecuador (X square meters), Cuba (X square meters) and the Dominican Republic (X square meters), together making up a 24% share of total imports. Argentina (X square meters), Brazil (X square meters), Guatemala (X square meters), Colombia (X square meters), Chile (X square meters), El Salvador (X square meters) and Falkland Islands (Malvinas) (X square meters) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to endless machinery band imports into Mexico stood at +9.4%. At the same time, the Dominican Republic (+46.4%), Falkland Islands (Malvinas) (+21.4%), Cuba (+16.4%) and El Salvador (+5.8%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +46.4% from 2012-2021. By contrast, Argentina (-1.0%), Colombia (-2.0%), Brazil (-3.9%), Guatemala (-4.7%), Chile (-6.4%) and Ecuador (-7.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico, Cuba and the Dominican Republic increased by +27, +5.6 and +5.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported endless bands for machinery, of stainless steel in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was held by Argentina ($X), with an 11% share of total imports. It was followed by Colombia, with a 7.2% share.

In Mexico, endless machinery band imports expanded at an average annual rate of +4.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+12.5% per year) and Colombia (-1.9% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per square meter in 2021, rising by 5.9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 9.8% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Argentina ($X per square meter), while Falkland Islands (Malvinas) ($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 Argentina (+13.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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