Latin America and the Caribbean: Wire And Cable Market 2024

Wire And Cable Market Size in Latin America and the Caribbean

The Latin American wire and cable market shrank to $X in 2021, reducing by -6.1% against the previous year. In general, consumption saw a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of 9.1%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Wire And Cable Production in Latin America and the Caribbean

In value terms, wire and cable production stood at $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 7.1%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Wire And Cable Exports

Exports in Latin America and the Caribbean

In 2021, the amount of insulated wire and cable exported in Latin America and the Caribbean surged to X tons, increasing by 64% against 2020 figures. Total exports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, wire and cable exports soared to $X in 2021. The total export value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, resulting at X tons, which was approx. 80% of total exports in 2021. The following exporters - Honduras (X tons), Brazil (X tons), Nicaragua (X tons) and Costa Rica (X tons) - together made up 14% of total exports.

Exports from Mexico increased at an average annual rate of +4.6% from 2012 to 2021. At the same time, Honduras (+7.5%), Nicaragua (+2.1%) and Brazil (+2.0%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +7.5% from 2012-2021. By contrast, Costa Rica (-1.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico increased by +2.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest wire and cable supplier in Latin America and the Caribbean, comprising 82% of total exports. The second position in the ranking was taken by Honduras ($X), with a 5.3% share of total exports. It was followed by Nicaragua, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico totaled +4.8%. In the other countries, the average annual rates were as follows: Honduras (+3.8% per year) and Nicaragua (+3.0% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, dropping by -20.9% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 28% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+1.6%), while the other leaders experienced more modest paces of growth.

Wire And Cable Imports

Imports in Latin America and the Caribbean

In 2021, the amount of insulated wire and cable imported in Latin America and the Caribbean soared to X tons, increasing by 29% on the previous year's figure. The total import volume increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wire and cable imports surged to $X in 2021. The total import value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico prevails in imports structure, resulting at X tons, which was approx. 70% of total imports in 2021. It was distantly followed by Brazil (X tons), mixing up a 5.2% share of total imports. The following importers - Chile (X tons), Colombia (X tons), Peru (X tons), Argentina (X tons), Guatemala (X tons) and Nicaragua (X tons) - together made up 15% of total imports.

From 2012 to 2021, average annual rates of growth with regard to wire and cable imports into Mexico stood at +6.9%. At the same time, Nicaragua (+16.3%), Guatemala (+10.1%), Chile (+7.9%), Peru (+4.6%) and Colombia (+1.4%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +16.3% from 2012-2021. Brazil experienced a relatively flat trend pattern. By contrast, Argentina (-2.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico increased by +9.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported insulated wire and cable in Latin America and the Caribbean, comprising 59% of total imports. The second position in the ranking was taken by Brazil ($X), with an 11% share of total imports. It was followed by Argentina, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value in Mexico totaled +2.5%. In the other countries, the average annual rates were as follows: Brazil (+2.8% per year) and Argentina (-1.4% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 2.1% against the previous year. Over the period under review, the import price, however, saw a noticeable setback. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nicaragua (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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