Mexico: Market for Prepared Glues And Other Prepared Adhesives 2024

Market Size for Prepared Glues And Other Prepared Adhesives in Mexico

The Mexican market for prepared glues and other prepared adhesives declined to $X in 2021, shrinking by -2.2% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2020, and then fell in the following year.

Production of Prepared Glues And Other Prepared Adhesives in Mexico

In value terms, production of prepared glues and other prepared adhesives declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 25% against the previous year. Production of peaked at $X in 2020, and then contracted modestly in the following year.

Exports of Prepared Glues And Other Prepared Adhesives

Exports from Mexico

In 2021, after five years of growth, there was significant decline in shipments abroad of prepared glues and other prepared adhesives, when their volume decreased by -24% to X tons. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 17%. Over the period under review, the exports of attained the maximum at X tons in 2020, and then reduced sharply in the following year.

In value terms, exports of prepared glues and other prepared adhesives shrank to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 18%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for exports of prepared glues and other prepared adhesives from Mexico, accounting for a 54% share of total exports. Moreover, exports of prepared glues and other prepared adhesives to the United States exceeded the volume sent to the second major destination, Colombia (X tons), fourfold. The third position in this ranking was taken by Brazil (X tons), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-7.0% per year) and Brazil (+22.5% per year).

In value terms, the United States ($X) emerged as the key foreign market for prepared glues and other prepared adhesives exports from Mexico, comprising 67% of total exports. The second position in the ranking was taken by Colombia ($X), with a 7.4% share of total exports. It was followed by Brazil, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-9.5% per year) and Brazil (+12.9% per year).

Export Prices by Country

In 2021, the average export price for prepared glues and other prepared adhesives amounted to $X per ton, surging by 22% against the previous year. In general, the export price, however, showed a mild contraction. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export 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 Argentina (+3.6%), while the prices for the other major destinations experienced a decline.

Imports of Prepared Glues And Other Prepared Adhesives

Imports into Mexico

In 2021, supplies from abroad of prepared glues and other prepared adhesives was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 22% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of prepared glues and other prepared adhesives soared to $X in 2021. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. 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 prepared glues and other prepared adhesives supplier to Mexico, with a 72% share of total imports. Moreover, imports of prepared glues and other prepared adhesives from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), ninefold. The third position in this ranking was held by Germany (X tons), with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.7% per year) and Germany (+12.7% per year).

In value terms, the United States ($X) constituted the largest supplier of prepared glues and other prepared adhesives to Mexico, comprising 71% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.2% share of total imports. It was followed by China, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.2% per year) and China (+11.9% per year).

Import Prices by Country

The average import price for prepared glues and other prepared adhesives stood at $X per ton in 2021, increasing by 7% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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