Latin America and the Caribbean: Flat Glass Market 2024

Flat Glass Market Size in Latin America and the Caribbean

The Latin American flat glass market rose markedly to $X in 2021, picking up by 8.3% against the previous year. The total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.4% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Flat Glass Production in Latin America and the Caribbean

In value terms, flat glass production rose slightly to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.6% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 22% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Flat Glass Exports

Exports in Latin America and the Caribbean

Flat glass exports reduced modestly to X tons in 2021, almost unchanged from 2020 figures. Over the period under review, exports showed a abrupt downturn. The growth pace was the most rapid in 2016 when exports increased by 8.3%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, flat glass exports reached $X in 2021. Overall, exports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 19% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Brazil (X tons) represented the largest exporter of flat glass, achieving 62% of total exports. Colombia (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Mexico (10%) and Argentina (7.9%). Chile (X tons) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the flat glass exports, with a CAGR of +13.5% from 2012 to 2021. At the same time, Colombia (+1.8%) displayed positive paces of growth. By contrast, Argentina (-5.4%), Chile (-13.2%) and Mexico (-26.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil, Colombia and Argentina increased by +53, +8.2 and +2.3 percentage points, respectively.

In value terms, Colombia ($X), Brazil ($X) and Mexico ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 88% share of total exports.

Brazil, with a CAGR of +10.1%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 2.3% against the previous year. Export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, flat glass export price increased by +21.2% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 21%. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Colombia ($X per ton), while Chile ($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 (+8.0%), while the other leaders experienced more modest paces of growth.

Flat Glass Imports

Imports in Latin America and the Caribbean

After two years of decline, overseas purchases of flat glass increased by 34% to X tons in 2021. Over the period under review, imports, however, showed a noticeable downturn. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, flat glass imports surged to $X in 2021. Total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Peru (X tons), distantly followed by Ecuador (X tons), Colombia (X tons), Guatemala (X tons), Chile (X tons), the Dominican Republic (X tons), Mexico (X tons), Argentina (X tons) and Brazil (X tons) represented the main importers of flat glass, together making up 81% of total imports.

Imports into Peru increased at an average annual rate of +1.4% from 2012 to 2021. At the same time, the Dominican Republic (+18.6%), Guatemala (+11.7%), Ecuador (+5.1%), Argentina (+5.0%) and Chile (+2.5%) 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 +18.6% from 2012-2021. By contrast, Mexico (-2.4%), Colombia (-6.6%) and Brazil (-20.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Peru, the Dominican Republic, Guatemala, Ecuador, Argentina and Chile increased by +6, +5.4, +5.4, +5.2, +2.7 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X), Ecuador ($X) and the Dominican Republic ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 38% of total imports.

Among the main importing countries, the Dominican Republic, with a CAGR of +21.0%, 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. As a result, import price reached 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, the country with the highest price was the Dominican Republic ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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