Latin America and the Caribbean: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in Latin America and the Caribbean

The Latin American market for grinding, sanding and polishing machines soared to $X in 2021, increasing by 52% against the previous year. In general, consumption enjoyed buoyant growth. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Production of Grinding, Sanding and Polishing Machines in Latin America and the Caribbean

In value terms, grinding, sanding and polishing machine production dropped to $X in 2021 estimated in export price. Over the period under review, production saw a mild slump. The most prominent rate of growth was recorded in 2020 with an increase of 31%. As a result, production reached the peak level of $X, and then reduced in the following year.

Exports of Grinding, Sanding and Polishing Machines

Exports in Latin America and the Caribbean

In 2021, approx. X units of grinding, sanding and polishing machines were exported in Latin America and the Caribbean; with an increase of 11% compared with the previous year. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 688% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, grinding, sanding and polishing machine exports soared to $X in 2021. Over the period under review, exports saw resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 69%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Chile prevails in exports structure, amounting to X units, which was near 84% of total exports in 2021. Brazil (X units) took an 8.9% share (based on physical terms) of total exports, which put it in second place, followed by Mexico (4.9%).

Chile was also the fastest-growing in terms of the grinding, sanding and polishing machines exports, with a CAGR of +72.8% from 2012 to 2021. At the same time, Mexico (+21.7%) and Brazil (+12.8%) displayed positive paces of growth. While the share of Chile (+77 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-4.8 p.p.) and Brazil (-25.6 p.p.) displayed negative dynamics.

In value terms, Brazil ($X), Chile ($X) and Mexico ($X) were the countries with the highest levels of exports in 2021, with a combined 94% share of total exports.

In terms of the main exporting countries, Chile, with a CAGR of +43.9%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, growing by 15% against the previous year. Over the period under review, the export price, however, faced a abrupt curtailment. The most prominent rate of growth was recorded in 2013 an increase of 33% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+0.7%), while the other leaders experienced a decline in the export price figures.

Imports of Grinding, Sanding and Polishing Machines

Imports in Latin America and the Caribbean

In 2021, the amount of grinding, sanding and polishing machines imported in Latin America and the Caribbean surged to X units, picking up by 17% on 2020 figures. Overall, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 85%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, grinding, sanding and polishing machine imports surged to $X in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +98.9% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of grinding, sanding and polishing machine imports in 2021 were Brazil (X units), Chile (X units) and Aruba (X units), together amounting to 71% of total import. Paraguay (X units) ranks next in terms of the total imports with a 9.2% share, followed by Mexico (5.3%). Ecuador (X units) and Peru (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Chile (with a CAGR of +45.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest grinding, sanding and polishing machine importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Brazil ($X), together accounting for 65% of total imports.

Chile, with a CAGR of +23.8%, recorded the highest growth rate of the value of imports, in terms of 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

The import price in Latin America and the Caribbean stood at $X per unit in 2021, with an increase of 35% against the previous year. In general, the import price, however, continues to indicate a slight descent. The pace of growth appeared the most rapid in 2016 an increase of 39% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+9.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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