Latin America and the Caribbean: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Latin America and the Caribbean

The Latin American metal frame upholstered seat market rose to $X in 2021, growing by 1.6% against the previous year. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +18.4% against 2019 indices. The level of consumption peaked in 2021 and is likely to see steady growth in the near future.

Production of Upholstered Seats With Metal Frames in Latin America and the Caribbean

In value terms, metal frame upholstered seat production reduced to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +14.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 29% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

Exports of Upholstered Seats With Metal Frames

Exports in Latin America and the Caribbean

Metal frame upholstered seat exports surged to X units in 2021, growing by 35% compared with the previous year's figure. Overall, exports, however, saw a slight setback. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal frame upholstered seat exports surged to $X in 2021. In general, exports, however, continue to indicate a mild slump. The pace of growth appeared the most rapid in 2014 when exports increased by 16%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico prevails in exports structure, amounting to X units, which was approx. 86% of total exports in 2021. It was distantly followed by Brazil (X units), creating a 9.9% share of total exports. Colombia (X units) followed a long way behind the leaders.

Exports from Mexico decreased at an average annual rate of -1.8% from 2012 to 2021. At the same time, Brazil (+10.1%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +10.1% from 2012-2021. By contrast, Colombia (-13.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil increased by +6.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest metal frame upholstered seat supplier in Latin America and the Caribbean, comprising 85% of total exports. The second position in the ranking was held by Brazil ($X), with a 10% share of total exports.

In Mexico, metal frame upholstered seat exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+5.5% per year) and Colombia (-14.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, which is down by -14.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 34%. Over the period under review, the export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.3%), while the other leaders experienced a decline in the export price figures.

Imports of Upholstered Seats With Metal Frames

Imports in Latin America and the Caribbean

Metal frame upholstered seat imports skyrocketed to X units in 2021, increasing by 61% compared with the previous year. Over the period under review, imports posted a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal frame upholstered seat imports surged to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.1% 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.

Imports by Country

Paraguay represented the largest importing country with an import of about X units, which finished at 57% of total imports. It was distantly followed by Mexico (X units), El Salvador (X units) and Chile (X units), together creating a 25% share of total imports. The following importers - Colombia (X units), Peru (X units) and Brazil (X units) - together made up 8.1% of total imports.

From 2012 to 2021, average annual rates of growth with regard to metal frame upholstered seat imports into Paraguay stood at +9.2%. At the same time, Peru (+14.4%), Chile (+10.4%), Colombia (+10.3%), Mexico (+4.3%) and El Salvador (+2.3%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +14.4% from 2012-2021. By contrast, Brazil (-1.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Paraguay and Chile increased by +11 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported upholstered seats with metal frames in Latin America and the Caribbean, comprising 33% of total imports. The second position in the ranking was held by Chile ($X), with a 14% share of total imports. It was followed by Colombia, with an 8.3% share.

In Mexico, metal frame upholstered seat imports increased at an average annual rate of +9.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Chile (+11.3% per year) and Colombia (+6.8% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, standing approx. at the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 28%. Over the period under review, import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per unit), while Paraguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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