Latin America and the Caribbean: Sugar-Manufacturing Industrial Machinery Market 2024

Sugar-Manufacturing Industrial Machinery Market Size in Latin America and the Caribbean

After two years of growth, the Latin American sugar-manufacturing industrial machinery market decreased by -7.3% to $X in 2022. In general, consumption, however, showed a pronounced descent. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Sugar-Manufacturing Industrial Machinery Production in Latin America and the Caribbean

In value terms, sugar-manufacturing industrial machinery production amounted to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 10%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Sugar-Manufacturing Industrial Machinery Exports

Exports in Latin America and the Caribbean

In 2022, sugar-manufacturing industrial machinery exports in Latin America and the Caribbean skyrocketed to X units, growing by 39% against 2021. In general, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 44% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, sugar-manufacturing industrial machinery exports soared to $X in 2022. Over the period under review, exports, however, faced a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 46%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil prevails in exports structure, recording X units, which was approx. 84% of total exports in 2022. It was distantly followed by El Salvador (X units), making up an 8.3% share of total exports. The following exporters - Colombia (X units), Cuba (X units) and Guatemala (X units) - each finished at a 5.5% share of total exports.

Exports from Brazil decreased at an average annual rate of -5.3% from 2012 to 2022. Colombia experienced a relatively flat trend pattern. El Salvador (-4.4%), Cuba (-17.2%) and Guatemala (-24.5%) illustrated a downward trend over the same period. Brazil (+12 p.p.) and El Salvador (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Cuba and Guatemala saw its share reduced by -3.8% and -11.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest sugar-manufacturing industrial machinery supplier in Latin America and the Caribbean, comprising 80% of total exports. The second position in the ranking was taken by El Salvador ($X), with an 11% share of total exports. It was followed by Colombia, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value in Brazil amounted to -13.6%. The remaining exporting countries recorded the following average annual rates of exports growth: El Salvador (+7.1% per year) and Colombia (+5.7% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, which is down by -13.8% against the previous year. Overall, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2014 when the export price increased by 16% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 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 Colombia ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+12.0%), while the other leaders experienced more modest paces of growth.

Sugar-Manufacturing Industrial Machinery Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of industrial machinery for the manufacture or preparation of sugar increased by 26% to X units, rising for the second consecutive year after two years of decline. Overall, imports, however, faced a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 102% against the previous year. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, sugar-manufacturing industrial machinery imports declined notably to $X in 2022. Over the period under review, imports, however, recorded a deep contraction. The growth pace was the most rapid in 2014 with an increase of 105% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Paraguay (X units), distantly followed by Guatemala (X units), Belize (X units) and Guyana (X units) represented the main importers of industrial machinery for the manufacture or preparation of sugar, together creating 77% of total imports. El Salvador (X units), Costa Rica (X units), Honduras (X units), Mexico (X units), the Dominican Republic (X units) and Peru (X units) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +6.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Guyana ($X) constitutes the largest market for imported industrial machinery for the manufacture or preparation of sugar in Latin America and the Caribbean, comprising 37% of total imports. The second position in the ranking was taken by Guatemala ($X), with a 12% share of total imports. It was followed by Paraguay, with a 12% share.

In Guyana, sugar-manufacturing industrial machinery imports expanded at an average annual rate of +10.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Guatemala (+2.9% per year) and Paraguay (-3.4% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, shrinking by -35.1% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 an increase of 139% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 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 Guyana ($X per unit), while Belize ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (+24.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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