Mexico: Metal Rivet Market 2024

Metal Rivet Market Size in Mexico

In 2022, the Mexican metal rivet market increased by 15% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Rivet Production in Mexico

In value terms, metal rivet production fell notably to $X in 2022 estimated in export price. Over the period under review, production saw a sharp decline. The most prominent rate of growth was recorded in 2016 when the production volume increased by 167% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Metal Rivet Exports

Exports from Mexico

After three years of growth, shipments abroad of iron or steel rivets decreased by -22.9% to X tons in 2022. In general, exports saw a pronounced setback. The most prominent rate of growth was recorded in 2013 with an increase of 84%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal rivet exports declined dramatically to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 44%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for metal rivet exports from Mexico, accounting for a 90% share of total exports. Moreover, metal rivet exports to the United States exceeded the volume sent to the second major destination, Colombia (X tons), more than tenfold. Guatemala (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+45.5% per year) and Guatemala (-17.2% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel rivets exports from Mexico, comprising 96% of total exports. The second position in the ranking was held by Colombia ($X), with a 1.6% share of total exports. It was followed by Guatemala, with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+25.8% per year) and Guatemala (-16.4% per year).

Export Prices by Country

In 2022, the average metal rivet export price amounted to $X per ton, with an increase of 8.2% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal rivet export price increased by +18.8% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 13% against the previous year. The export price peaked at $X per ton in 2019; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: 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 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+24.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Rivet Imports

Imports into Mexico

Metal rivet imports into Mexico skyrocketed to X tons in 2022, growing by 29% compared with 2021 figures. Overall, imports, however, saw a pronounced descent. The growth pace was the most rapid in 2019 with an increase of 59%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, metal rivet imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest metal rivet supplier to Mexico, with a 53% share of total imports. Moreover, metal rivet imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.0% per year) and Taiwan (Chinese) (+0.9% per year).

In value terms, the United States ($X) constituted the largest supplier of iron or steel rivets to Mexico, comprising 50% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2022, 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: China (+16.1% per year) and Taiwan (Chinese) (+5.1% per year).

Import Prices by Country

In 2022, the average metal rivet import price amounted to $X per ton, shrinking by -20.8% against the previous year. Overall, the import price, however, recorded resilient growth. The pace of growth appeared the most rapid in 2016 an increase of 87%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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