MERCOSUR: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in MERCOSUR

After two years of decline, the MERCOSUR cored arc-welding wire market increased by 17% to $X in 2021. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Cored Arc-Welding Wire Production in MERCOSUR

In value terms, cored arc-welding wire production amounted to $X in 2021 estimated in export price. The total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.3% 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 decreased by -9.6% against 2018 indices. The growth pace was the most rapid in 2014 when the production volume increased by 54% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Cored Arc-Welding Wire Exports

Exports in MERCOSUR

In 2021, approx. X tons of cored arc-welding wire were exported in MERCOSUR; growing by 49% against the year before. Overall, exports, however, saw a abrupt curtailment. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cored arc-welding wire exports soared to $X in 2021. In general, exports, however, saw a abrupt descent. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil represented the largest exporting country with an export of around X tons, which recorded 67% of total exports. It was distantly followed by Peru (X tons) and Argentina (X tons), together constituting a 26% share of total exports. The following exporters - Colombia (X tons) and Chile (X tons) - each finished at a 6.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to cored arc-welding wire exports from Brazil stood at -16.8%. At the same time, Peru (+61.1%) and Chile (+14.3%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +61.1% from 2012-2021. By contrast, Colombia (-1.9%) and Argentina (-25.2%) illustrated a downward trend over the same period. Peru (+17 p.p.), Chile (+2.9 p.p.) and Colombia (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Brazil and Argentina saw its share reduced by -6.4% and -16.1% from 2012 to 2021, respectively.

In value terms, Brazil ($X) remains the largest cored arc-welding wire supplier in MERCOSUR, comprising 74% of total exports. The second position in the ranking was held by Colombia ($X), with an 8% share of total exports. It was followed by Peru, with a 7.6% share.

In Brazil, cored arc-welding wire exports declined by an average annual rate of -11.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (+3.0% per year) and Peru (+45.9% per year).

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, with a decrease of -10.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.1%. The pace of growth appeared the most rapid in 2014 when the export price increased by 27% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2020, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Argentina ($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 (+7.2%), while the other leaders experienced more modest paces of growth.

Cored Arc-Welding Wire Imports

Imports in MERCOSUR

In 2021, purchases abroad of cored arc-welding wire was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, cored arc-welding wire imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X tons) was the main importer of cored arc-welding wire, comprising 40% of total imports. It was distantly followed by Chile (X tons), Peru (X tons), Colombia (X tons), Argentina (X tons) and Ecuador (X tons), together constituting a 54% share of total imports. Paraguay (X tons) held a minor share of total imports.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of cored arc-welding wire. At the same time, Paraguay (+15.6%), Peru (+7.8%), Ecuador (+3.3%), Colombia (+2.3%) and Chile (+1.6%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +15.6% from 2012-2021. Argentina experienced a relatively flat trend pattern. While the share of Peru (+6.2 p.p.) and Paraguay (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Argentina (-1.5 p.p.) and Brazil (-6.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Chile ($X) and Peru ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 73% of total imports. Colombia, Argentina, Ecuador and Paraguay lagged somewhat behind, together comprising a further 25%.

Among the main importing countries, Paraguay, with a CAGR of +7.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, with an increase of 12% against the previous year. In general, the import price, however, continues to indicate a slight slump. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per ton), while Ecuador ($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 (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform