Latin America and the Caribbean: Expanded Metal Market 2025

Expanded Metal Market Size in Latin America and the Caribbean

The Latin American expanded metal market contracted slightly to $X in 2022, waning by -2.1% against the previous year. The market value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 9.7% against the previous year. As a result, consumption reached the peak level of $X, and then declined slightly in the following year.

Expanded Metal Production in Latin America and the Caribbean

In value terms, expanded metal production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 18% against the previous year. As a result, production reached the peak level of $X, and then shrank in the following year.

Expanded Metal Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of iron or steel expanded metal were exported in Latin America and the Caribbean; dropping by -5.1% on 2021 figures. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, expanded metal exports reduced to $X in 2022. In general, exports, however, enjoyed notable growth. The growth pace was the most rapid in 2021 with an increase of 87% against the previous year. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Mexico prevails in exports structure, recording X tons, which was approx. 84% of total exports in 2022. It was distantly followed by Argentina (X tons), generating a 5% share of total exports. El Salvador (X tons), Costa Rica (X tons) and Colombia (X tons) held a little share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of iron or steel expanded metal. At the same time, El Salvador (+48.6%) and Costa Rica (+45.9%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +48.6% from 2012-2022. By contrast, Argentina (-3.3%) and Colombia (-11.6%) illustrated a downward trend over the same period. El Salvador (+3.5 p.p.) and Costa Rica (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Mexico, Argentina and Colombia saw its share reduced by -1.6%, -1.9% and -3.9% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest expanded metal supplier in Latin America and the Caribbean, comprising 88% of total exports. The second position in the ranking was taken by Argentina ($X), with a 3.8% share of total exports. It was followed by El Salvador, with a 2.7% share.

In Mexico, expanded metal exports expanded at an average annual rate of +4.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-2.1% per year) and El Salvador (+44.8% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with a decrease of -4.9% against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, expanded metal export price increased by +26.8% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 33%. As a result, the export price attained the peak level of $X per ton, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Expanded Metal Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of iron or steel expanded metal increased by 4.7% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 17%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, expanded metal imports skyrocketed to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 38%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons), distantly followed by Brazil (X tons), Honduras (X tons), Costa Rica (X tons), El Salvador (X tons) and the Dominican Republic (X tons) represented the main importers of iron or steel expanded metal, together mixing up 68% of total imports. Nicaragua (X tons), Haiti (X tons), Uruguay (X tons), Panama (X tons), Guatemala (X tons), Chile (X tons) and Peru (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Panama (with a CAGR of +37.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported iron or steel expanded metal in Latin America and the Caribbean, comprising 38% of total imports. The second position in the ranking was held by Brazil ($X), with a 14% share of total imports. It was followed by El Salvador, with a 6.4% share.

In Mexico, expanded metal imports increased at an average annual rate of +16.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-4.5% per year) and El Salvador (+12.8% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2021 when the import price increased by 18%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Haiti (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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