Latin America and the Caribbean: Safety Glass Market 2024

Safety Glass Market Size in Latin America and the Caribbean

The Latin American safety glass market totaled $X in 2022, increasing by 4.1% against the previous year. In general, consumption recorded a resilient expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Safety Glass Production in Latin America and the Caribbean

In value terms, safety glass production rose modestly to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.0% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 20% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Safety Glass Exports

Exports in Latin America and the Caribbean

In 2022, the amount of safety glass exported in Latin America and the Caribbean fell dramatically to X square meters, waning by -22.9% against 2021. In general, exports recorded a slight decrease. The growth pace was the most rapid in 2021 when exports increased by 135%. As a result, the exports reached the peak of X square meters, and then declined rapidly in the following year.

In value terms, safety glass exports skyrocketed to $X in 2022. Total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 43%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Mexico was the main exporter of safety glass in Latin America and the Caribbean, with the volume of exports reaching X square meters, which was near 60% of total exports in 2022. It was distantly followed by Brazil (X square meters) and Chile (X square meters), together committing a 28% share of total exports. Peru (X square meters), Argentina (X square meters), Colombia (X square meters) and Ecuador (X square meters) followed a long way behind the leaders.

Exports from Mexico decreased at an average annual rate of -4.0% from 2012 to 2022. At the same time, Ecuador (+13.1%), Peru (+7.9%), Chile (+7.4%), Brazil (+4.5%) and Argentina (+1.6%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +13.1% from 2012-2022. By contrast, Colombia (-10.1%) illustrated a downward trend over the same period. While the share of Brazil (+10 p.p.), Chile (+3.2 p.p.), Peru (+1.7 p.p.) and Ecuador (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Colombia (-3.4 p.p.) and Mexico (-15.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest safety glass supplier in Latin America and the Caribbean, comprising 68% of total exports. The second position in the ranking was held by Brazil ($X), with a 12% share of total exports. It was followed by Peru, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at +1.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+1.0% per year) and Peru (+7.4% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per square meter in 2022, increasing by 50% against the previous year. Export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, safety glass export price decreased by -25.8% against 2019 indices. Over the period under review, the export prices attained the maximum at $X per square meter in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Peru ($X per square meter), while Ecuador ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.9%), while the other leaders experienced mixed trends in the export price figures.

Safety Glass Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of safety glass increased by 11% to X square meters, rising for the second consecutive year after two years of decline. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, safety glass imports reached $X in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 31%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Mexico dominates imports structure, finishing at X square meters, which was approx. 57% of total imports in 2022. Brazil (X square meters) took the second position in the ranking, followed by Colombia (X square meters) and Argentina (X square meters). All these countries together took near 21% share of total imports. The following importers - Peru (X square meters), the Dominican Republic (X square meters), Chile (X square meters) and Ecuador (X square meters) - together made up 12% of total imports.

Imports into Mexico increased at an average annual rate of +6.8% from 2012 to 2022. At the same time, the Dominican Republic (+25.5%), Colombia (+16.2%), Peru (+12.7%), Ecuador (+3.6%), Argentina (+3.5%) and Chile (+3.5%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +25.5% from 2012-2022. By contrast, Brazil (-2.9%) illustrated a downward trend over the same period. While the share of Mexico (+7.6 p.p.), Colombia (+3.9 p.p.), the Dominican Republic (+2.7 p.p.) and Peru (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (-11 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported safety glass in Latin America and the Caribbean, comprising 53% of total imports. The second position in the ranking was held by Brazil ($X), with a 10% share of total imports. It was followed by Argentina, with a 7.6% share.

In Mexico, safety glass imports expanded at an average annual rate of +4.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (-1.7% per year) and Argentina (-1.7% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per square meter, which is down by -4.9% against the previous year. Over the period under review, the import price saw a pronounced downturn. The most prominent rate of growth was recorded in 2015 when the import price increased by 14%. As a result, import price reached the peak level of $X per square meter. From 2016 to 2022, the import prices failed to regain momentum.

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 Chile ($X per square meter), while Colombia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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