Latin America and the Caribbean: Illuminated Sign Market 2024

Illuminated Sign Market Size in Latin America and the Caribbean

In 2021, the Latin American illuminated sign market was finally on the rise to reach $X after four years of decline. Overall, consumption, however, showed a mild decrease. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Illuminated Sign Production in Latin America and the Caribbean

In value terms, illuminated sign production expanded rapidly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable descent. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Illuminated Sign Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of illuminated signs and illuminated name-plates was finally on the rise to reach X tons after two years of decline. Overall, exports recorded a prominent increase. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, illuminated sign exports surged to $X in 2021. Over the period under review, exports continue to indicate a prominent expansion. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico dominates exports structure, finishing at X tons, which was near 67% of total exports in 2021. Brazil (X tons) held the second position in the ranking, followed by Argentina (X tons) and Guatemala (X tons). All these countries together held approx. 22% share of total exports. The following exporters - Colombia (X tons), Costa Rica (X tons) and Panama (X tons) - together made up 7.8% of total exports.

Mexico was also the fastest-growing in terms of the illuminated signs and illuminated name-plates exports, with a CAGR of +14.5% from 2012 to 2021. At the same time, Brazil (+12.6%), Guatemala (+9.9%) and Colombia (+1.7%) displayed positive paces of growth. Panama experienced a relatively flat trend pattern. By contrast, Argentina (-1.5%) and Costa Rica (-17.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico, Brazil and Guatemala increased by +34, +3.9 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest illuminated sign supplier in Latin America and the Caribbean, comprising 77% of total exports. The second position in the ranking was held by Brazil ($X), with a 4.6% share of total exports. It was followed by Argentina, with a 4.6% share.

In Mexico, illuminated sign exports expanded at an average annual rate of +14.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+3.4% per year) and Argentina (-5.0% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with a decrease of -10% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 6.5% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+1.1%), while the other leaders experienced a decline in the export price figures.

Illuminated Sign Imports

Imports in Latin America and the Caribbean

After two years of decline, purchases abroad of illuminated signs and illuminated name-plates increased by 1.1% to X tons in 2021. Over the period under review, imports, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2017 with an increase of 30%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, illuminated sign imports totaled $X in 2021. In general, imports, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2018 with an increase of 27% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Mexico (X tons), distantly followed by Colombia (X tons), Chile (X tons), Argentina (X tons), Ecuador (X tons), Brazil (X tons), the Dominican Republic (X tons), El Salvador (X tons) and Paraguay (X tons) represented the key importers of illuminated signs and illuminated name-plates, together mixing up 75% of total imports. Peru (X tons), Panama (X tons), Guatemala (X tons) and Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Ecuador (with a CAGR of +9.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported illuminated signs and illuminated name-plates in Latin America and the Caribbean, comprising 27% of total imports. The second position in the ranking was held by Chile ($X), with a 9.9% share of total imports. It was followed by Colombia, with a 9.5% share.

In Mexico, illuminated sign imports expanded at an average annual rate of +3.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Chile (-4.4% per year) and Colombia (+0.9% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 1.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2013 when the import price increased by 22% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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 ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :