Latin America and the Caribbean: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Latin America and the Caribbean

The Latin American grinding and sharpening machine market soared to $X in 2022, with an increase of 28% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Grinding And Sharpening Metal Finishing Machines in Latin America and the Caribbean

In value terms, grinding and sharpening machine production expanded sharply to $X in 2022 estimated in export price. In general, production enjoyed a measured increase. The growth pace was the most rapid in 2020 with an increase of 40%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in Latin America and the Caribbean

Grinding and sharpening machine exports fell markedly to X units in 2022, reducing by -49.1% on the year before. Over the period under review, exports recorded a noticeable decline. The pace of growth was the most pronounced in 2014 when exports increased by 385%. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, grinding and sharpening machine exports skyrocketed to $X in 2022. Overall, exports showed a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 126%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Brazil (X units) was the main exporter of grinding and sharpening metal finishing machines, creating 61% of total exports. Ecuador (X units) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Mexico (7.3%) and Peru (4.6%). The following exporters - Chile (X units), Panama (X units) and Argentina (X units) - together made up 9.7% of total exports.

Exports from Brazil increased at an average annual rate of +3.5% from 2012 to 2022. At the same time, Ecuador (+40.1%) and Peru (+16.5%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +40.1% from 2012-2022. By contrast, Argentina (-4.2%), Mexico (-13.2%), Chile (-15.5%) and Panama (-23.1%) illustrated a downward trend over the same period. While the share of Brazil (+32 p.p.), Ecuador (+10 p.p.) and Peru (+4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Chile (-11.3 p.p.), Mexico (-12.5 p.p.) and Panama (-24.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) were the countries with the highest levels of exports in 2022, together accounting for 89% of total exports. Ecuador, Peru, Panama and Chile lagged somewhat behind, together accounting for a further 1.8%.

Ecuador, with a CAGR of +12.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 unit in 2022, picking up by 332% against the previous year. Over the period under review, the export price, however, saw a deep slump. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+7.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in Latin America and the Caribbean

In 2022, overseas purchases of grinding and sharpening metal finishing machines increased by 11% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 67% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, grinding and sharpening machine imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a abrupt shrinkage. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Brazil represented the key importing country with an import of about X units, which reached 43% of total imports. Peru (X units) held the second position in the ranking, distantly followed by Mexico (X units), Argentina (X units), Chile (X units) and Bolivia (X units). All these countries together took approx. 50% share of total imports. Guatemala (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +18.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported grinding and sharpening metal finishing machines in Latin America and the Caribbean, comprising 54% of total imports. The second position in the ranking was held by Brazil ($X), with a 20% share of total imports. It was followed by Argentina, with a 3.4% share.

In Mexico, grinding and sharpening machine imports shrank by an average annual rate of -8.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-14.3% per year) and Argentina (-16.3% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, jumping by 54% against the previous year. Over the period under review, the import price, however, saw a deep setback. The most prominent rate of growth was recorded in 2019 when the import price increased by 71% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 2022, the most notable rate of growth in terms of prices was attained by Peru (-7.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :