Latin America and the Caribbean: Metal Wool Market 2025

Metal Wool Market Size in Latin America and the Caribbean

The Latin American metal wool market reduced to $X in 2022, dropping by -11.6% against the previous year. Over the period under review, consumption saw a mild setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Wool Production in Latin America and the Caribbean

In value terms, metal wool production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2013 with an increase of 22% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Metal Wool Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of iron or steel wool increased by 16% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +85.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 60%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, metal wool exports amounted to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2021 when exports increased by 20% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Mexico (X tons) was the main exporter of iron or steel wool, comprising 80% of total exports. It was distantly followed by Brazil (X tons), creating an 11% share of total exports. Ecuador (X tons) and Argentina (X tons) held a minor share of total exports.

Mexico was also the fastest-growing in terms of the iron or steel wool exports, with a CAGR of +11.7% from 2012 to 2022. Ecuador (-1.9%), Brazil (-4.2%) and Argentina (-15.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by +42 percentage points.

In value terms, Mexico ($X) remains the largest metal wool supplier in Latin America and the Caribbean, comprising 73% of total exports. The second position in the ranking was held by Brazil ($X), with a 13% share of total exports. It was followed by Ecuador, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to +3.2%. In the other countries, the average annual rates were as follows: Brazil (-7.5% per year) and Ecuador (-6.8% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -6.8% against the previous year. Over the period under review, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 20%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 Argentina ($X per ton), while Ecuador ($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 (+0.7%), while the other leaders experienced a decline in the export price figures.

Metal Wool Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of iron or steel wool decreased by -2.4% to X tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, metal wool imports reduced modestly to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 11% against the previous year. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Mexico (X tons) and Colombia (X tons) represented roughly 33% of total imports in 2022. Argentina (X tons) held the next position in the ranking, followed by Peru (X tons), Bolivia (X tons), the Dominican Republic (X tons) and Venezuela (X tons). All these countries together took approx. 35% share of total imports. Brazil (X tons), Nicaragua (X tons), Paraguay (X tons), Uruguay (X tons), Chile (X tons) and Haiti (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bolivia (with a CAGR of +12.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal wool importing markets in Latin America and the Caribbean were Mexico ($X), Colombia ($X) and Argentina ($X), with a combined 44% share of total imports. The Dominican Republic, Brazil, Peru, Venezuela, Chile, Haiti, Paraguay, Bolivia, Uruguay and Nicaragua lagged somewhat behind, together comprising a further 45%.

The Dominican Republic, with a CAGR of +9.5%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 1.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 7%. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Bolivia ($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 (+12.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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