MERCOSUR: Bearing Market 2024

Bearing Market Size in MERCOSUR

In 2021, the MERCOSUR bearing market increased by 28% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Bearing Production in MERCOSUR

In value terms, bearing production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 13%. Over the period under review, production hit record highs at $X in 2020, and then declined modestly in the following year.

Bearing Exports

Exports in MERCOSUR

In 2021, overseas shipments of ball and roller bearings decreased by -0.5% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 10% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, bearing exports dropped to $X in 2021. Over the period under review, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 15%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Brazil (X tons) represented the largest exporter of ball and roller bearings, mixing up 71% of total exports. It was distantly followed by Argentina (X tons), making up a 25% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to bearing exports from Brazil stood at -6.5%. Argentina (-5.5%) illustrated a downward trend over the same period. Brazil (-3 p.p.) significantly weakened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest bearing supplier in MERCOSUR, comprising 78% of total exports. The second position in the ranking was taken by Argentina ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil amounted to -7.6%.

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, reducing by -8.4% against the previous year. Over the period under review, the export price saw a mild slump. The growth pace was the most rapid in 2018 when the export price increased by 13%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, 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 Brazil ($X per ton), while Argentina amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (-1.2%).

Bearing Imports

Imports in MERCOSUR

Bearing imports skyrocketed to X tons in 2021, growing by 42% on the year before. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2012; afterwards, it flattened through to 2021.

Imports by Country

Brazil prevails in imports structure, accounting for X tons, which was approx. 71% of total imports in 2021. Argentina (X tons) ranks second in terms of the total imports with an 8.9% share, followed by Colombia (5.8%) and Chile (5%). Peru (X tons) and Ecuador (X tons) took a minor share of total imports.

Brazil was also the fastest-growing in terms of the ball and roller bearings imports, with a CAGR of +4.6% from 2012 to 2021. At the same time, Ecuador (+3.6%), Peru (+2.3%), Chile (+2.0%) and Colombia (+1.9%) displayed positive paces of growth. Argentina experienced a relatively flat trend pattern. While the share of Brazil (+10 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Argentina (-2.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported ball and roller bearings in MERCOSUR, comprising 61% of total imports. The second position in the ranking was taken by Argentina ($X), with a 10% share of total imports. It was followed by Chile, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil stood at +1.2%. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (-2.4% per year) and Chile (+0.9% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2019 when the import price decreased by less than 0.1% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 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 Chile ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (-1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform