Mexico: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in Mexico

In 2021, the Mexican cored arc-welding wire market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cored Arc-Welding Wire Exports

Exports from Mexico

Cored arc-welding wire exports from Mexico dropped significantly to X tons in 2021, reducing by -54.8% on 2020. Over the period under review, exports continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2015 with an increase of 47%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, cored arc-welding wire exports dropped markedly to $X in 2021. In general, exports recorded a deep setback. The most prominent rate of growth was recorded in 2015 when exports increased by 28% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for cored arc-welding wire exports from Mexico, accounting for a 62% share of total exports. Moreover, cored arc-welding wire exports to the United States exceeded the volume sent to the second major destination, Peru (X tons), threefold. The third position in this ranking was taken by Guatemala (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+19.2% per year) and Guatemala (-6.8% per year).

In value terms, the United States ($X) remains the key foreign market for cored arc-welding wire exports from Mexico, comprising 66% of total exports. The second position in the ranking was taken by Peru ($X), with a 16% share of total exports. It was followed by Guatemala, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+5.8% per year) and Guatemala (-6.2% per year).

Export Prices by Country

The average cored arc-welding wire export price stood at $X per ton in 2021, surging by 19% against the previous year. Overall, the export price, however, recorded a perceptible decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Guatemala ($X per ton) and the United States ($X per ton), while the average price for exports to Peru ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+0.6%), while the prices for the other major destinations experienced a decline.

Cored Arc-Welding Wire Imports

Imports into Mexico

In 2021, approx. X tons of cored arc-welding wire were imported into Mexico; picking up by 47% on the previous year's figure. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, 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, cored arc-welding wire imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of cored arc-welding wire imports to Mexico, together accounting for 82% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +47.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of cored arc-welding wire to Mexico, comprising 57% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.4% per year) and South Korea (+43.3% per year).

Import Prices by Country

The average cored arc-welding wire import price stood at $X per ton in 2021, shrinking by -3.8% against the previous year. Overall, the import price saw a pronounced decrease. The most prominent rate of growth was recorded in 2013 an increase of 0.5% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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