Mexico: Agglomerated Powder Rod Market 2024

Agglomerated Powder Rod Market Size in Mexico

The Mexican agglomerated powder rod market surged to $X in 2021, picking up by 23% against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Agglomerated Powder Rod Production in Mexico

In value terms, agglomerated powder rod production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 19% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Agglomerated Powder Rod Exports

Exports from Mexico

In 2021, overseas shipments of base metal wire and rods of agglomerated base powder were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2018 when exports increased by 45% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, agglomerated powder rod exports surged to $X in 2021. In general, exports enjoyed a resilient expansion. The growth pace was the most rapid in 2016 with an increase of 118%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for agglomerated powder rod exports from Mexico, accounting for a 80% share of total exports. Moreover, agglomerated powder rod exports to the United States exceeded the volume sent to the second major destination, the Dominican Republic (X tons), more than tenfold. Canada (X tons) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+7.0% per year) and Canada (-0.2% per year).

In value terms, the United States ($X) remains the key foreign market for base metal wire and rods of agglomerated base powder exports from Mexico, comprising 87% of total exports. The second position in the ranking was held by Canada ($X), with a 1.6% share of total exports. It was followed by Hong Kong SAR, with a 1% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+12.4% per year) and Hong Kong SAR (+3.7% per year).

Export Prices by Country

In 2021, the average agglomerated powder rod export price amounted to $X per ton, growing by 13% against the previous year. In general, the export price saw a resilient increase. The pace of growth appeared the most rapid in 2016 an increase of 75%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was South Africa ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+24.6%), while the prices for the other major destinations experienced more modest paces of growth.

Agglomerated Powder Rod Imports

Imports into Mexico

Agglomerated powder rod imports into Mexico skyrocketed to X tons in 2021, jumping by 115% on 2020 figures. Overall, imports, however, continue to indicate a pronounced reduction. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, agglomerated powder rod imports surged to $X in 2021. Over the period under review, imports continue to indicate a perceptible expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of agglomerated powder rod to Mexico, accounting for a 66% share of total imports. Moreover, agglomerated powder rod imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sixfold. The third position in this ranking was held by China (X tons), with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms 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 (+33.2% per year) and China (-20.9% per year).

In value terms, the United States ($X) constituted the largest supplier of base metal wire and rods of agglomerated base powder to Mexico, comprising 49% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 7.1% share of total imports. It was followed by China, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+86.1% per year) and China (-8.0% per year).

Import Prices by Country

In 2021, the average agglomerated powder rod import price amounted to $X per ton, with a decrease of -9% against the previous year. Overall, the import price, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 an increase of 48%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :