Latin America and the Caribbean: Market for Iron or Steel Cans 2024

Market Size for Iron or Steel Cans in Latin America and the Caribbean

The Latin American iron or steel can market reached $X in 2021, remaining constant against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Iron or Steel Cans in Latin America and the Caribbean

In value terms, iron or steel can production totaled $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 7.4%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Iron or Steel Cans

Exports in Latin America and the Caribbean

In 2021, overseas shipments of iron or steel cans increased by 13% to X units, rising for the fifth consecutive year after three years of decline. Over the period under review, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 35%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, iron or steel can exports amounted to $X in 2021. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 38%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Mexico represented the main exporting country with an export of about X units, which finished at 45% of total exports. Peru (X units) held the second position in the ranking, followed by Ecuador (X units), Costa Rica (X units), Guatemala (X units) and Brazil (X units). All these countries together took approx. 51% share of total exports. Chile (X units) followed a long way behind the leaders.

Exports from Mexico increased at an average annual rate of +6.9% from 2012 to 2021. At the same time, Peru (+24.9%), Ecuador (+15.6%), Brazil (+12.6%), Costa Rica (+3.8%), Chile (+3.2%) and Guatemala (+2.9%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +24.9% from 2012-2021. From 2012 to 2021, the share of Peru, Ecuador, Mexico and Brazil increased by +12, +5.8, +3.8 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest iron or steel can supplier in Latin America and the Caribbean, comprising 45% of total exports. The second position in the ranking was held by Peru ($X), with a 16% share of total exports. It was followed by Guatemala, with an 11% share.

In Mexico, iron or steel can exports expanded at an average annual rate of +7.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Peru (+23.2% per year) and Guatemala (+5.3% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, with a decrease of -3.8% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 5.3%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+2.4%), while the other leaders experienced more modest paces of growth.

Imports of Iron or Steel Cans

Imports in Latin America and the Caribbean

For the fifth consecutive year, LatAmerica and the Caribbean recorded growth in overseas purchases of iron or steel cans, which increased by 30% to X units in 2021. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +111.5% against 2016 indices. The pace of growth was the most pronounced in 2020 when imports increased by 31% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, iron or steel can imports surged to $X in 2021. Overall, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of iron or steel can imports in 2021 were Brazil (X units), El Salvador (X units), Mexico (X units), Chile (X units), Colombia (X units) and Venezuela (X units), together amounting to 69% of total import. It was distantly followed by Argentina (X units) and Peru (X units), together comprising a 9.1% share of total imports. Guatemala (X units), Paraguay (X units), Uruguay (X units), Costa Rica (X units) and Ecuador (X units) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Peru (with a CAGR of +25.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel can importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and El Salvador ($X), together accounting for 45% of total imports. These countries were followed by Chile, Venezuela, Colombia, Peru, Argentina, Uruguay, Costa Rica, Paraguay, Guatemala and Ecuador, which together accounted for a further 45%.

In terms of the main importing countries, Chile, with a CAGR of +20.5%, saw the highest rates of growth with regard to 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, with an increase of 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Uruguay ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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