Latin America and the Caribbean: Working Wire Machine Market 2024

Working Wire Machine Market Size in Latin America and the Caribbean

The Latin American working wire machine market surged to $X in 2021, picking up by 27% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Working Wire Machine Production in Latin America and the Caribbean

In value terms, working wire machine production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 7.1%. The level of production peaked at $X in 2020, and then fell in the following year.

Working Wire Machine Exports

Exports in Latin America and the Caribbean

Working wire machine exports contracted markedly to X units in 2021, with a decrease of -28% compared with the previous year's figure. Over the period under review, exports faced a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 1,313%. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, working wire machine exports rose slightly to $X in 2021. Total exports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.9% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 77%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil represented the key exporter of machines for working wire in Latin America and the Caribbean, with the volume of exports resulting at X units, which was near 53% of total exports in 2021. It was distantly followed by Mexico (X units), Chile (X units) and Ecuador (X units), together mixing up a 26% share of total exports. El Salvador (X units), Honduras (X units), Paraguay (X units), Argentina (X units), Colombia (X units) and Peru (X units) took a relatively small share of total exports.

Exports from Brazil decreased at an average annual rate of -25.0% from 2012 to 2021. At the same time, Ecuador (+16.7%), Paraguay (+14.7%), El Salvador (+14.5%), Argentina (+8.0%) and Mexico (+3.8%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +16.7% from 2012-2021. Colombia and Honduras experienced a relatively flat trend pattern. By contrast, Chile (-9.6%) and Peru (-16.4%) illustrated a downward trend over the same period. While the share of Mexico (+15 p.p.), Chile (+4.7 p.p.), Ecuador (+4.5 p.p.), Paraguay (+3.5 p.p.), El Salvador (+3.5 p.p.), Honduras (+3.1 p.p.), Argentina (+2.2 p.p.) and Colombia (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Brazil (-41.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest working wire machine supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was taken by Chile ($X), with a 12% share of total exports. It was followed by Mexico, with an 11% share.

In Brazil, working wire machine exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Chile (+24.4% per year) and Mexico (+18.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, with an increase of 45% against the previous year. Overall, the export price recorded a significant expansion. The pace of growth was the most pronounced in 2019 an increase of 3,664%. The level of export peaked in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+37.7%), while the other leaders experienced more modest paces of growth.

Working Wire Machine Imports

Imports in Latin America and the Caribbean

Working wire machine imports skyrocketed to X units in 2021, rising by 63% against the previous year's figure. Over the period under review, imports, however, saw a perceptible curtailment. The growth pace was the most rapid in 2019 when imports increased by 83%. The volume of import peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, working wire machine imports skyrocketed to $X in 2021. In general, imports, however, showed a pronounced descent. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Brazil (X units) and Mexico (X units) represented the largest importers of machines for working wire in 2021, amounting to approx. 26% and 23% of total imports, respectively. Peru (X units) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Honduras (9.8%) and Chile (6.9%). The following importers - Colombia (X units), the Dominican Republic (X units), Argentina (X units), Costa Rica (X units), Guatemala (X units), Venezuela (X units) and Saint Lucia (X units) - together made up 18% of total imports.

From 2012 to 2021, the biggest increases were recorded for Honduras (with a CAGR of +49.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest working wire machine importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Honduras ($X), together accounting for 69% of total imports.

In terms of the main importing countries, Honduras, with a CAGR of +32.5%, saw 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

The import price in Latin America and the Caribbean stood at $X per unit in 2021, declining by -4.2% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by 52% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, 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 Argentina ($X per unit), while Venezuela ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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