Latin America and the Caribbean: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Latin America and the Caribbean

After three years of decline, the Latin American market for machines for preparing, weaving and knitting textiles increased by 53% to $X in 2021. Over the period under review, consumption, however, continues to indicate a perceptible decrease. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Machines For Preparing, Weaving And Knitting Textiles in Latin America and the Caribbean

In value terms, textile weaving and knitting machinery production contracted to $X in 2021 estimated in export price. In general, production recorded a deep slump. The most prominent rate of growth was recorded in 2013 when the production volume increased by 44% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports in Latin America and the Caribbean

In 2021, the amount of machines for preparing, weaving and knitting textiles exported in Latin America and the Caribbean reduced to X units, dropping by -11.3% compared with the year before. In general, exports saw a deep contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 60%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, textile weaving and knitting machinery exports dropped to $X in 2021. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2018 when exports increased by 32% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil was the key exporting country with an export of around X units, which amounted to 56% of total exports. It was distantly followed by the Dominican Republic (X units), El Salvador (X units) and Mexico (X units), together generating a 26% share of total exports. The following exporters - Peru (X units), Guatemala (X units) and Honduras (X units) - together made up 11% of total exports.

Exports from Brazil decreased at an average annual rate of -7.4% from 2012 to 2021. At the same time, El Salvador (+20.2%), the Dominican Republic (+18.5%) and Guatemala (+12.1%) 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 +20.2% from 2012-2021. By contrast, Honduras (-5.7%), Peru (-10.3%) and Mexico (-17.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Dominican Republic, El Salvador, Guatemala and Brazil increased by +9.3, +8.5, +3.2 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest textile weaving and knitting machinery supplier in Latin America and the Caribbean, comprising 55% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with an 8.5% share of total exports. It was followed by Mexico, with a 7.9% share.

In Brazil, textile weaving and knitting machinery exports contracted by an average annual rate of -3.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Dominican Republic (+9.9% per year) and Mexico (-16.7% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, rising by 7.1% against the previous year. Export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, textile weaving and knitting machinery export price decreased by -16.4% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by 48%. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per unit), while El Salvador ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+13.8%), while the other leaders experienced more modest paces of growth.

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports in Latin America and the Caribbean

In 2021, purchases abroad of machines for preparing, weaving and knitting textiles was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, textile weaving and knitting machinery imports surged to $X in 2021. In general, imports, however, recorded a noticeable curtailment. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X units), distantly followed by Peru (X units), Argentina (X units), Mexico (X units), Guatemala (X units) and Colombia (X units) represented the main importers of machines for preparing, weaving and knitting textiles, together achieving 87% of total imports. Ecuador (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +8.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest textile weaving and knitting machinery importing markets in Latin America and the Caribbean were Brazil ($X), Argentina ($X) and Mexico ($X), with a combined 69% share of total imports. Peru, Guatemala, Colombia and Ecuador lagged somewhat behind, together accounting for a further 19%.

In terms of the main importing countries, Guatemala, with a CAGR of +12.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, almost unchanged from the previous year. Over the period under review, the import price continues to indicate a noticeable contraction. The pace of growth was the most pronounced in 2013 an increase of 3.3%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per unit), while Peru ($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 (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :