Mexico: Base Metal Keys Market 2025

Base Metal Keys Market Size in Mexico

For the fourth consecutive year, the Mexican base metal keys market recorded decline in sales value, which decreased by -5.1% to $X in 2022. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Base Metal Keys Production in Mexico

In value terms, base metal keys production shrank to $X in 2022 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.7% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 96%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Base Metal Keys Exports

Exports from Mexico

In 2022, shipments abroad of base metal keys increased by 9.2% to X tons, rising for the fourth consecutive year after five years of decline. Over the period under review, exports showed a strong increase. The growth pace was the most rapid in 2021 when exports increased by 173% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, base metal keys exports expanded markedly to $X in 2022. Overall, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.8% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 45%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for base metal keys exports from Mexico, with a 96% share of total exports. It was followed by Guatemala (X tons), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +9.0%.

In value terms, the United States ($X) remains the key foreign market for base metal keys exports from Mexico, comprising 96% of total exports. The second position in the ranking was held by Guatemala ($X), with a 1.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +4.8%.

Export Prices by Country

The average base metal keys export price stood at $X per ton in 2022, growing by 3.1% against the previous year. Overall, the export price, however, continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2016 when the average export price increased by 92% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+0.1%).

Base Metal Keys Imports

Imports into Mexico

In 2022, supplies from abroad of base metal keys increased by 7% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 171% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; afterwards, it flattened through to 2022.

In value terms, base metal keys imports amounted to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 45% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest base metal keys supplier to Mexico, accounting for a 54% share of total imports. Moreover, base metal keys imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+11.3% per year) and China (+15.0% per year).

In value terms, the United States ($X) constituted the largest supplier of base metal keys to Mexico, comprising 50% of total imports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total imports. It was followed by Spain, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+13.4% per year) and Spain (+23.1% per year).

Import Prices by Country

The average base metal keys import price stood at $X per ton in 2022, growing by 7.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 143%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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