Latin America and the Caribbean: Vapour Generating Boiler Market 2024

Vapour Generating Boiler Market Size in Latin America and the Caribbean

In 2021, the Latin American vapour generating boiler market increased by 5.6% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Vapour Generating Boiler Production in Latin America and the Caribbean

In value terms, vapour generating boiler production stood at $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 25% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Vapour Generating Boiler Exports

Exports in Latin America and the Caribbean

In 2021, vapour generating boiler exports in Latin America and the Caribbean soared to X tons, rising by 54% against the previous year's figure. In general, exports, however, showed a mild downturn. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, vapour generating boiler exports rose to $X in 2021. Overall, exports, however, recorded a pronounced decrease. The pace of growth appeared the most rapid in 2014 with an increase of 52% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Brazil (X tons) represented the major exporter of vapour generating boilers, creating 59% of total exports. It was distantly followed by Mexico (X tons), mixing up a 24% share of total exports. Costa Rica (X tons), El Salvador (X tons), Argentina (X tons), Trinidad and Tobago (X tons) and Nicaragua (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to vapour generating boiler exports from Brazil stood at +4.9%. At the same time, El Salvador (+22.2%) and Trinidad and Tobago (+12.7%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +22.2% from 2012-2021. By contrast, Nicaragua (-3.1%), Costa Rica (-4.1%), Mexico (-4.2%) and Argentina (-20.0%) illustrated a downward trend over the same period. Brazil (+26 p.p.) and El Salvador (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Mexico and Argentina saw its share reduced by -6.2% and -13.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Mexico ($X) and Trinidad and Tobago ($X) constituted the countries with the highest levels of exports in 2021, together comprising 86% of total exports.

Trinidad and Tobago, with a CAGR of +39.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, shrinking by -32.2% against the previous year. Overall, the export price continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2014 when the export price increased by 19%. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Trinidad and Tobago ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+23.7%), while the other leaders experienced more modest paces of growth.

Vapour Generating Boiler Imports

Imports in Latin America and the Caribbean

After two years of decline, supplies from abroad of vapour generating boilers increased by 46% to X tons in 2021. Over the period under review, imports, however, continue to indicate a mild setback. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, vapour generating boiler imports skyrocketed to $X in 2021. In general, imports, however, recorded a deep slump. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Mexico (X tons) represented the key importer of vapour generating boilers, creating 36% of total imports. Chile (X tons) held the second position in the ranking, distantly followed by Guatemala (X tons), Paraguay (X tons) and Argentina (X tons). All these countries together held approx. 37% share of total imports. Peru (X tons), the Dominican Republic (X tons), Bolivia (X tons), Ecuador (X tons), Colombia (X tons), Brazil (X tons) and Honduras (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to vapour generating boiler imports into Mexico stood at +3.6%. At the same time, Argentina (+22.2%), Chile (+8.0%), Paraguay (+7.5%), the Dominican Republic (+5.9%), Guatemala (+4.9%), Bolivia (+3.4%) and Honduras (+2.4%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +22.2% from 2012-2021. By contrast, Ecuador (-6.4%), Peru (-8.6%), Brazil (-12.1%) and Colombia (-15.8%) illustrated a downward trend over the same period. Mexico (+13 p.p.), Chile (+9.8 p.p.), Argentina (+4.9 p.p.), Paraguay (+3.3 p.p.), Guatemala (+3.2 p.p.) and the Dominican Republic (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Ecuador, Brazil, Peru and Colombia saw its share reduced by -1.6%, -2.7%, -3.9% and -7.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported vapour generating boilers in Latin America and the Caribbean, comprising 34% of total imports. The second position in the ranking was held by Chile ($X), with a 10% share of total imports. It was followed by Argentina, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico was relatively modest. In the other countries, the average annual rates were as follows: Chile (+0.4% per year) and Argentina (+15.7% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, reducing by -7.5% against the previous year. In general, the import price saw a pronounced slump. The pace of growth was the most pronounced in 2015 when the import price increased by 20% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Brazil ($X per ton), while Bolivia ($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 (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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