Latin America and the Caribbean: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Latin America and the Caribbean

The Latin American steel stranded wire market shrank modestly to $X in 2022, dropping by -2.5% against the previous year. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Steel Stranded Wire Production in Latin America and the Caribbean

In value terms, steel stranded wire production shrank to $X in 2022 estimated in export price. Overall, production showed a slight curtailment. The growth pace was the most rapid in 2017 with an increase of 23% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Steel Stranded Wire Exports

Exports in Latin America and the Caribbean

Steel stranded wire exports dropped to X tons in 2022, shrinking by -8.7% against the previous year. Overall, exports saw a perceptible decline. The growth pace was the most rapid in 2016 with an increase of 28% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel stranded wire exports surged to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) and Brazil (X tons) dominates exports structure, together making up 75% of total exports. It was distantly followed by Chile (X tons) and Argentina (X tons), together achieving an 18% share of total exports. Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Mexico (with a CAGR of +1.6%), while the other leaders experienced a decline in the exports figures.

In value terms, Mexico ($X) remains the largest steel stranded wire supplier in Latin America and the Caribbean, comprising 45% of total exports. The second position in the ranking was held by Brazil ($X), with a 22% share of total exports. It was followed by Argentina, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled +4.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-6.9% per year) and Argentina (-2.0% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by 53% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel stranded wire export price increased by +47.7% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+8.8%), while the other leaders experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports in Latin America and the Caribbean

In 2022, steel stranded wire imports in Latin America and the Caribbean declined to X tons, leveling off at the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 33% against the previous year. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, steel stranded wire imports expanded significantly to $X in 2022. Total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +64.2% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 47%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Brazil (X tons), distantly followed by Mexico (X tons), Chile (X tons), Colombia (X tons), Argentina (X tons) and Peru (X tons) were the key importers of iron or steel stranded wire, ropes and cables, together making up 82% of total imports. Costa Rica (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +6.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 66% share of total imports. Argentina, Colombia, Peru and Costa Rica lagged somewhat behind, together accounting for a further 20%.

Among the main importing countries, Costa Rica, with a CAGR of +5.1%, recorded the highest growth rate of 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 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Colombia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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