Latin America and the Caribbean: Ball Bearing Parts Market 2022

Ball Bearing Parts Market Size in Latin America and the Caribbean

In 2021, the Latin American ball bearing parts market was finally on the rise to reach $X after four years of decline. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Ball Bearing Parts Production in Latin America and the Caribbean

In value terms, ball bearing parts production expanded to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.2% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 63%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Ball Bearing Parts Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of parts of ball or roller bearings was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, continue to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by 107%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, ball bearing parts exports skyrocketed to $X in 2021. Overall, exports, however, recorded a slight setback. The pace of growth was the most pronounced in 2017 with an increase of 39% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Mexico (X tons) represented the key exporter of parts of ball or roller bearings, mixing up 71% of total exports. It was distantly followed by Brazil (X tons), committing a 28% share of total exports.

Exports from Mexico decreased at an average annual rate of -3.2% from 2012 to 2021. At the same time, Brazil (+1.2%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +1.2% from 2012-2021. While the share of Brazil (+7.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-6.1 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest ball bearing parts supplier in Latin America and the Caribbean, comprising 80% of total exports. The second position in the ranking was held by Brazil ($X), with an 18% share of total exports.

In Mexico, ball bearing parts exports increased at an average annual rate of +1.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -16.3% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the export price increased by 45%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Mexico ($X per ton), while Brazil totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+4.7%).

Ball Bearing Parts Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of parts of ball or roller bearings was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing parts imports soared to $X in 2021. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the major importer of parts of ball or roller bearings in Latin America and the Caribbean, with the volume of imports resulting at X tons, which was approx. 62% of total imports in 2021. Brazil (X tons) ranks second in terms of the total imports with a 29% share, followed by Argentina (5.2%).

Mexico was also the fastest-growing in terms of the parts of ball or roller bearings imports, with a CAGR of +7.3% from 2012 to 2021. At the same time, Argentina (+4.6%) and Brazil (+4.0%) displayed positive paces of growth. While the share of Mexico (+6.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Brazil (-5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ball bearing parts importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), together accounting for 89% of total imports.

In terms of the main importing countries, Mexico, with a CAGR of +3.7%, saw the highest rates of growth with regard to 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 ton in 2021, surging by 8.5% against the previous year. Over the period under review, the import price, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2016 when the import price increased by 17%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was Brazil ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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