Latin America and the Caribbean: Non-Electric Roasting Furnace Market 2024

Non-Electric Roasting Furnace Market Size in Latin America and the Caribbean

The Latin American non-electric roasting furnace market contracted to $X in 2022, falling by -6.2% against the previous year. Overall, consumption, however, showed a noticeable shrinkage. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Non-Electric Roasting Furnace Production in Latin America and the Caribbean

In value terms, non-electric roasting furnace production amounted to $X in 2022 estimated in export price. Overall, production saw a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 177%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Non-Electric Roasting Furnace Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of non-electric furnaces and ovens for the roasting or melting increased by 28% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a deep slump. The pace of growth was the most pronounced in 2018 when exports increased by 4,813%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, non-electric roasting furnace exports fell remarkably to $X in 2022. Overall, exports, however, showed a deep contraction. The pace of growth was the most pronounced in 2014 with an increase of 320% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Brazil was the major exporting country with an export of about X units, which amounted to 58% of total exports. Mexico (X units) took the second position in the ranking, followed by Honduras (X units) and the Dominican Republic (X units). All these countries together took near 34% share of total exports. The following exporters - Colombia (X units) and Peru (X units) - each reached a 3.6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to non-electric roasting furnace exports from Brazil stood at -9.2%. At the same time, the Dominican Republic (+27.7%) and Colombia (+1.2%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +27.7% from 2012-2022. Honduras experienced a relatively flat trend pattern. By contrast, Mexico (-6.4%) and Peru (-12.9%) illustrated a downward trend over the same period. While the share of Honduras (+13 p.p.) and the Dominican Republic (+4.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Peru (-1.6 p.p.) and Brazil (-19.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest non-electric roasting furnace supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Honduras ($X), together accounting for 94% of total exports. Peru, Colombia and the Dominican Republic lagged somewhat behind, together accounting for a further 0.5%.

The Dominican Republic, with a CAGR of +2.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, with a decrease of -54.3% against the previous year. Over the period under review, the export price saw a abrupt downturn. The growth pace was the most rapid in 2019 when the export price increased by 2,743%. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-2.6%), while the other leaders experienced a decline in the export price figures.

Non-Electric Roasting Furnace Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of non-electric furnaces and ovens for the roasting or melting increased by 647% to X units, rising for the second year in a row after four years of decline. In general, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, non-electric roasting furnace imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 259%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Bolivia prevails in imports structure, amounting to X units, which was approx. 89% of total imports in 2022. Mexico (X units) and Chile (X units) followed a long way behind the leaders.

Bolivia was also the fastest-growing in terms of the non-electric furnaces and ovens for the roasting or melting imports, with a CAGR of +102.7% from 2012 to 2022. Mexico (-22.0%) and Chile (-23.9%) illustrated a downward trend over the same period. Bolivia (+89 p.p.) significantly strengthened its position in terms of the total imports, while Chile and Mexico saw its share reduced by -29.3% and -52% from 2012 to 2022, respectively.

In value terms, Bolivia ($X) constitutes the largest market for imported non-electric furnaces and ovens for the roasting or melting in Latin America and the Caribbean, comprising 49% of total imports. The second position in the ranking was taken by Mexico ($X), with a 24% share of total imports.

In Bolivia, non-electric roasting furnace imports increased at an average annual rate of +103.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-11.5% per year) and Chile (-43.2% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, declining by -76% against the previous year. Overall, the import price recorded a deep downturn. The pace of growth appeared the most rapid in 2016 an increase of 161% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+13.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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