Mexico: Carbides Market 2024

Carbides Market Size in Mexico

The Mexican carbides market dropped modestly to $X in 2022, waning by -2.4% against the previous year. Overall, consumption saw a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 8%. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Carbides Production in Mexico

In value terms, carbides production fell slightly to $X in 2022 estimated in export price. Overall, production saw a deep reduction. The pace of growth appeared the most rapid in 2021 when the production volume increased by 6.3%. Carbides production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Carbides Exports

Exports from Mexico

In 2022, carbides exports from Mexico dropped markedly to X tons, shrinking by -41.8% against the previous year. In general, exports, however, showed a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 141% against the previous year. The exports peaked at X tons in 2021, and then shrank remarkably in the following year.

In value terms, carbides exports shrank markedly to $X in 2022. Over the period under review, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 114% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then declined notably in the following year.

Exports by Country

Guatemala (X tons), the UK (X tons) and El Salvador (X tons) were the main destinations of carbides exports from Mexico, together accounting for 57% of total exports. The United States, Argentina, Chile, the Dominican Republic and Panama lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +64.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for carbides exported from Mexico were the United States ($X), Guatemala ($X) and the UK ($X), together accounting for 57% of total exports. El Salvador, Argentina, the Dominican Republic, Chile and Panama lagged somewhat behind, together comprising a further 31%.

Chile, with a CAGR of +45.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average carbides export price amounted to $X per ton, with an increase of 46% against the previous year. Overall, the export price, however, recorded a noticeable decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Carbides Imports

Imports into Mexico

In 2022, approx. X tons of carbides were imported into Mexico; falling by -13.9% on the previous year's figure. Over the period under review, imports saw a noticeable descent. The most prominent rate of growth was recorded in 2021 with an increase of 78%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, carbides imports soared to $X in 2022. Overall, imports, however, saw a slight expansion. The most prominent rate of growth was recorded in 2017 with an increase of 69% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of carbides to Mexico, accounting for a 61% share of total imports. Moreover, carbides imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was held by Norway (X tons), with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+6.6% per year) and Norway (+10.0% per year).

In value terms, China ($X), Brazil ($X) and Norway ($X) were the largest carbides suppliers to Mexico, together accounting for 91% of total imports.

Norway, with a CAGR of +18.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average carbides import price stood at $X per ton in 2022, increasing by 44% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :