Latin America and the Caribbean: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in Latin America and the Caribbean

The Latin American free-cutting steel wire rod market declined modestly to $X in 2022, which is down by X% against the previous year. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Production of Wire Rod Of Free-Cutting Steel in Latin America and the Caribbean

In value terms, free-cutting steel wire rod production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Wire Rod Of Free-Cutting Steel

Exports in Latin America and the Caribbean

In 2022, shipments abroad of wire rod of free-cutting steel 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 relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. 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, free-cutting steel wire rod exports skyrocketed to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Trinidad and Tobago represented the main exporting country with an export of about X tons, which accounted for X% of total exports. Argentina (X tons) held the second position in the ranking, followed by Brazil (X tons). All these countries together took approx. X% share of total exports.

Exports from Trinidad and Tobago decreased at an average annual rate of X% from 2012 to 2022. At the same time, Brazil (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Argentina experienced a relatively flat trend pattern. While the share of Brazil (X p.p.) and Argentina (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Trinidad and Tobago (X p.p.) displayed negative dynamics.

In value terms, Trinidad and Tobago ($X) remains the largest free-cutting steel wire rod supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Trinidad and Tobago amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Argentina (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, which is down by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then fell slightly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Imports of Wire Rod Of Free-Cutting Steel

Imports in Latin America and the Caribbean

In 2022, the amount of wire rod of free-cutting steel imported in Latin America and the Caribbean contracted to X tons, waning by X% against 2021. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, free-cutting steel wire rod imports stood at $X in 2022. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

The Dominican Republic prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Guatemala (X tons), constituting an X% share of total imports. The following importers - Peru (X tons) and Brazil (X tons) - together made up X% of total imports.

The Dominican Republic was also the fastest-growing in terms of the wire rod of free-cutting steel imports, with a CAGR of X% from 2012 to 2022. At the same time, Peru (X%) and Guatemala (X%) displayed positive paces of growth. By contrast, Brazil (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Dominican Republic increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported wire rod of free-cutting steel in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Guatemala ($X), with an X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Dominican Republic amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Guatemala (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. 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 Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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