Mexico: Market for Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap 2024

Market Size for Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap in Mexico

The Mexican market for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap skyrocketed to $X in 2021, with an increase of 49% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.3% against 2019 indices. Consumption of peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Exports of Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap

Exports from Mexico

In 2021, shipments abroad of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap increased by 8.5% to X tons, rising for the third year in a row after four years of decline. Overall, exports, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2014 with an increase of 37%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap surged to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap from Mexico, with a 89% share of total exports. Moreover, exports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap to the United States exceeded the volume sent to the second major destination, Guatemala (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+6.7% per year) and El Salvador (+27.8% per year).

In value terms, the United States ($X) remains the key foreign market for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap exports from Mexico, comprising 89% of total exports. The second position in the ranking was held by Guatemala ($X), with a 5.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+13.3% per year) and El Salvador (+31.6% per year).

Export Prices by Country

The average export price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap stood at $X per ton in 2021, picking up by 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to El Salvador ($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 Guatemala (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear of Rubber or Plastics, not Waterproof, not Sports, without a Metal Toe-Cap

Imports into Mexico

In 2021, imports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap into Mexico skyrocketed to X tons, growing by 41% on the previous year's figure. Overall, imports recorded a relatively flat trend pattern. Over the period under review, imports of attained the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap surged to $X in 2021. The total import value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap supplier to Mexico, with a 57% share of total imports. Moreover, imports of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold. Indonesia (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-5.8% per year) and Indonesia (-6.9% per year).

In value terms, China ($X) constituted the largest supplier of footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap to Mexico, comprising 57% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 22% share of total imports. It was followed by Indonesia, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-4.0% per year) and Indonesia (-5.1% per year).

Import Prices by Country

The average import price for footwear of rubber or plastics, not waterproof, not sports, without a metal toe-cap stood at $X per ton in 2021, approximately reflecting the previous year. Over the last nine years, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2014 when the average import price increased by 10%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Italy ($X per ton) and Vietnam ($X per ton), while the price for Brazil ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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