MERCOSUR: Piano Market 2024

Piano Market Size in MERCOSUR

The MERCOSUR piano market surged to $X in 2021, jumping by 15% against the previous year. Over the period under review, consumption, however, continues to indicate a perceptible reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Piano Production in MERCOSUR

In value terms, piano production totaled $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2016 with an increase of 7.9%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Piano Exports

Exports in MERCOSUR

In 2021, the amount of pianos and other keyboard stringed musical instruments exported in MERCOSUR reduced markedly to X tons, shrinking by -57.5% compared with the previous year's figure. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 168%. As a result, the exports reached the peak of X tons, and then shrank notably in the following year.

In value terms, piano exports shrank modestly to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 56%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Venezuela (X tons) and Argentina (X tons) represented roughly 57% of total exports in 2021. Uruguay (X kg) held the next position in the ranking, followed by Chile (X kg), Colombia (X kg), Brazil (X kg) and Suriname (X kg). All these countries together held near 40% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Venezuela (with a CAGR of +31.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest piano supplying countries in MERCOSUR were Argentina ($X), Venezuela ($X) and Chile ($X), with a combined 75% share of total exports.

Venezuela, with a CAGR of +30.0%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, increasing by 127% against the previous year. Export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, piano export price decreased by -1.2% against 2019 indices. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Chile ($X per ton), while Suriname ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+8.6%), while the other leaders experienced more modest paces of growth.

Piano Imports

Imports in MERCOSUR

In 2021, supplies from abroad of pianos and other keyboard stringed musical instruments was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, continue to indicate a abrupt contraction. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, piano imports surged to $X in 2021. In general, imports, however, recorded a pronounced shrinkage. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Brazil represented the main importing country with an import of around X tons, which accounted for 42% of total imports. Chile (X tons) took the second position in the ranking, followed by Argentina (X tons), Colombia (X tons), Ecuador (X tons) and Peru (X tons). All these countries together held near 48% share of total imports. Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to piano imports into Brazil stood at -5.8%. At the same time, Uruguay (+14.2%) and Chile (+3.2%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +14.2% from 2012-2021. By contrast, Argentina (-1.2%), Ecuador (-1.9%), Peru (-14.4%) and Colombia (-21.7%) illustrated a downward trend over the same period. While the share of Chile (+11 p.p.), Brazil (+8.8 p.p.), Argentina (+5.8 p.p.), Uruguay (+3.3 p.p.) and Ecuador (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Peru (-4.4 p.p.) and Colombia (-25.1 p.p.) displayed negative dynamics.

In value terms, the largest piano importing markets in MERCOSUR were Brazil ($X), Chile ($X) and Argentina ($X), together comprising 76% of total imports.

Chile, with a CAGR of +9.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, surging by 20% against the previous year. Import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 36% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: 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 Peru (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform