Latin America and the Caribbean: Interchangeable Tool Market 2025

Interchangeable Tool Market Size in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in the Latin American interchangeable tool market, when its value increased by 15% to $X. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Interchangeable Tool Production in Latin America and the Caribbean

In value terms, interchangeable tool production shrank to $X in 2021 estimated in export price. In general, production, however, continues to indicate a sharp decline. The pace of growth appeared the most rapid in 2017 with an increase of 10%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Interchangeable Tool Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of interchangeable tools for hand tools increased by 20% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 159% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, interchangeable tool exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a slight decrease. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico was the key exporter of interchangeable tools for hand tools in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was approx. 58% of total exports in 2021. Brazil (X tons) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Chile (4.8%). Peru (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +1.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest interchangeable tool supplying countries in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Chile ($X), with a combined 95% share of total exports.

Among the main exporting countries, Mexico, with a CAGR of +0.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, the export price recorded a mild contraction. The most prominent rate of growth was recorded in 2016 an increase of 111% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-0.5%), while the other leaders experienced a decline in the export price figures.

Interchangeable Tool Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of interchangeable tools for hand tools were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 131%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, interchangeable tool imports soared to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico was the major importing country with an import of around X tons, which resulted at 55% of total imports. It was distantly followed by Brazil (X tons), Chile (X tons) and Peru (X tons), together generating a 28% share of total imports. Argentina (X tons), Bolivia (X tons) and Colombia (X tons) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the interchangeable tools for hand tools imports, with a CAGR of +429.0% from 2012 to 2021. At the same time, Bolivia (+16.8%), Chile (+9.8%) and Peru (+3.0%) displayed positive paces of growth. Colombia and Argentina experienced a relatively flat trend pattern. By contrast, Brazil (-2.4%) illustrated a downward trend over the same period. Mexico (+55 p.p.) significantly strengthened its position in terms of the total imports, while Colombia, Peru, Argentina and Brazil saw its share reduced by -2.6%, -3.9%, -5.4% and -33.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported interchangeable tools for hand tools in Latin America and the Caribbean, comprising 60% of total imports. The second position in the ranking was taken by Brazil ($X), with a 14% share of total imports. It was followed by Peru, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico totaled +1.6%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-4.4% per year) and Peru (+1.6% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, leveling off at the previous year. In general, the import price, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2013 when the import price increased by 8.7%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Peru ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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