Latin America and the Caribbean: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Latin America and the Caribbean

In 2022, the Latin American high-tenacity filament aramids yarn market increased by 1.7% to $X, rising for the second consecutive year after three years of decline. Overall, consumption showed a slight slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of High-Tenacity Filament Yarn Of Aramids in Latin America and the Caribbean

In value terms, high-tenacity filament aramids yarn production declined slightly to $X in 2022 estimated in export price. In general, production recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2017 when the production volume increased by 28% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports in Latin America and the Caribbean

In 2022, shipments abroad of high-tenacity filament yarn of aramids decreased by -37.3% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 128%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, high-tenacity filament aramids yarn exports fell sharply to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 161% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Brazil was the main exporting country with an export of about X tons, which recorded 62% of total exports. It was distantly followed by Mexico (X tons), constituting a 34% share of total exports. Nicaragua (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of +74,966.7%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Brazil ($X) remains the largest high-tenacity filament aramids yarn supplier in Latin America and the Caribbean, comprising 69% of total exports. The second position in the ranking was taken by Mexico ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at +4.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (-6.6% per year) and Nicaragua (+7,500.0% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of 3.2% against the previous year. In general, the export price, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2020 when the export price increased by 14%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-1.2%), while the other leaders experienced a decline in the export price figures.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports in Latin America and the Caribbean

High-tenacity filament aramids yarn imports expanded rapidly to X tons in 2022, increasing by 14% against the previous year's figure. The total import volume increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 27% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, high-tenacity filament aramids yarn imports soared to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 28%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Brazil represented the major importing country with an import of about X tons, which accounted for 59% of total imports. It was distantly followed by Mexico (X tons), creating a 29% share of total imports. The following importers - Argentina (X tons) and Colombia (X tons) - each resulted at an 8.3% share of total imports.

Imports into Brazil increased at an average annual rate of +2.9% from 2012 to 2022. At the same time, Argentina (+20.0%) and Mexico (+8.7%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +20.0% from 2012-2022. By contrast, Colombia (-4.0%) illustrated a downward trend over the same period. Mexico (+9.6 p.p.) and Argentina (+3.2 p.p.) significantly strengthened its position in terms of the total imports, while Colombia and Brazil saw its share reduced by -5.3% and -9.6% from 2012 to 2022, respectively.

In value terms, Brazil ($X), Mexico ($X) and Colombia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 95% share of total imports. Argentina lagged somewhat behind, comprising a further 3.3%.

In terms of the main importing countries, Argentina, with a CAGR of +14.9%, 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

The import price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 8.3% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 21% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Mexico ($X per ton) and Colombia ($X per ton), while Argentina ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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