Latin America and the Caribbean: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in Latin America and the Caribbean

The Latin American forged stainless steel bar market fell modestly to $X in 2022, which is down by X% against the previous year. In general, consumption continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Forged Bars Of Stainless Steel in Latin America and the Caribbean

In value terms, forged stainless steel bar production declined slightly to $X in 2022 estimated in export price. Overall, production recorded a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Forged Bars Of Stainless Steel

Exports in Latin America and the Caribbean

Forged stainless steel bar exports expanded notably to X tons in 2022, increasing by X% against the previous year's figure. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2016 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, forged stainless steel bar exports skyrocketed to $X in 2022. In general, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mexico was the largest exporter of forged bars of stainless steel in Latin America and the Caribbean, with the volume of exports reaching X tons, which was near X% of total exports in 2022. Chile (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Costa Rica (X%). The following exporters - El Salvador (X tons), Bahamas (X tons), Peru (X tons), Guatemala (X tons), Ecuador (X tons) and Honduras (X tons) - together made up X% of total exports.

Exports from Mexico decreased at an average annual rate of X% from 2012 to 2022. At the same time, Ecuador (X%), El Salvador (X%), Chile (X%), Peru (X%), Bahamas (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Honduras (X%) and Costa Rica (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile, Mexico, El Salvador, Ecuador, Peru and Bahamas increased by X, X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest forged stainless steel bar supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Costa Rica ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to X%. In the other countries, the average annual rates were as follows: Costa Rica (X% per year) and Chile (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, jumping by X% against the previous year. In general, the export price, however, continues to indicate a drastic downturn. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahamas (X%), while the other leaders experienced more modest paces of growth.

Imports of Forged Bars Of Stainless Steel

Imports in Latin America and the Caribbean

In 2022, purchases abroad of forged bars of stainless steel increased by X% to X tons, rising for the fourth consecutive year after four years of decline. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, forged stainless steel bar imports surged to $X in 2022. Over the period under review, imports, however, recorded a perceptible curtailment. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Grenada (X tons), distantly followed by Mexico (X tons), Peru (X tons), Guyana (X tons) and Chile (X tons) represented the largest importers of forged bars of stainless steel, together mixing up X% of total imports. Brazil (X tons), Cuba (X tons), Costa Rica (X tons), Ecuador (X tons), Argentina (X tons) and Bahamas (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Grenada (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported forged bars of stainless steel in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Grenada, with a X% share.

In Mexico, forged stainless steel bar imports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Grenada (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price, however, saw a pronounced curtailment. The growth pace was the most rapid in 2018 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Costa Rica ($X per ton), while Guyana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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