Latin America and the Caribbean: Prisms And Mirrors Market 2024

Prisms And Mirrors Market Size in Latin America and the Caribbean

In 2022, the Latin American prisms and mirrors market increased by 20% to $X, rising for the second year in a row after two years of decline. Overall, consumption enjoyed a buoyant expansion. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Prisms And Mirrors Production in Latin America and the Caribbean

In value terms, prisms and mirrors production contracted to $X in 2022 estimated in export price. In general, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 434% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Prisms And Mirrors Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of prisms and mirrors was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a perceptible decrease. The pace of growth appeared the most rapid in 2019 with an increase of 218%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, prisms and mirrors exports surged to $X in 2022. Overall, exports, however, saw a abrupt curtailment. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Guatemala (X tons) was the major exporter of prisms and mirrors, comprising 47% of total exports. Mexico (X tons) held the second position in the ranking, followed by Brazil (X tons) and Costa Rica (X tons). All these countries together took near 49% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Guatemala (with a CAGR of +44.3%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the largest prisms and mirrors supplier in Latin America and the Caribbean, comprising 83% of total exports. The second position in the ranking was taken by Brazil ($X), with a 4.1% share of total exports. It was followed by Guatemala, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at -7.5%. In the other countries, the average annual rates were as follows: Brazil (+7.8% per year) and Guatemala (+18.6% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 67% against the previous year. Over the period under review, the export price, however, showed a abrupt curtailment. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+6.3%), while the other leaders experienced mixed trends in the export price figures.

Prisms And Mirrors Imports

Imports in Latin America and the Caribbean

Prisms and mirrors imports skyrocketed to X tons in 2022, with an increase of 28% on 2021 figures. In general, imports saw a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 80%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, prisms and mirrors imports skyrocketed to $X in 2022. Overall, imports continue to indicate a tangible expansion. The pace of growth was the most pronounced in 2021 when imports increased by 80%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Mexico was the largest importing country with an import of about X tons, which amounted to 66% of total imports. It was distantly followed by Brazil (X tons), committing an 18% share of total imports. Chile (X tons), Guatemala (X tons), Peru (X tons) and Bolivia (X tons) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of +11.3% from 2012 to 2022. At the same time, Chile (+32.5%), Guatemala (+22.0%), Brazil (+16.4%), Peru (+12.4%) and Bolivia (+6.8%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +32.5% from 2012-2022. Brazil (+6.1 p.p.), Chile (+3.5 p.p.) and Guatemala (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Mexico saw its share reduced by -1.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported prisms and mirrors in Latin America and the Caribbean, comprising 79% of total imports. The second position in the ranking was held by Brazil ($X), with a 12% share of total imports. It was followed by Peru, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled +1.6%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+9.5% per year) and Peru (+10.3% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, shrinking by -6.1% against the previous year. Overall, the import price recorded a deep downturn. The pace of growth was the most pronounced in 2016 an increase of 20%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+13.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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