Peru: Inflator System Airbag Market 2024

Inflator System Airbag Market Size in Peru

In 2022, the Peruvian inflator system airbag market decreased by -22.5% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, posted a prominent increase. Over the period under review, the market reached the peak level at $X in 2021, and then declined rapidly in the following year.

Inflator System Airbag Exports

Exports from Peru

In 2022, approx. X kg of airbags with inflator system and parts thereof were exported from Peru; waning by -41.7% on the previous year's figure. Overall, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 899%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, inflator system airbag exports shrank notably to $X in 2022. In general, exports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by 735% against the previous year. As a result, the exports reached the peak of $X, and then contracted rapidly in the following year.

Exports by Country

The United States (X kg) was the main destination for inflator system airbag exports from Peru, with a 97% share of total exports. It was followed by Colombia (X kg), with a 1.7% share of total exports. Chile (X kg) ranked third in terms of total exports with a 0.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +50.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+3.6% per year) and Chile (-25.1% per year).

In value terms, the United States ($X) remains the key foreign market for airbags with inflator system and parts thereof exports from Peru, comprising 91% of total exports. The second position in the ranking was taken by Colombia ($X), with a 5% share of total exports. It was followed by Chile, with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +58.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+12.6% per year) and Chile (-21.1% per year).

Export Prices by Country

In 2022, the average inflator system airbag export price amounted to $X per ton, waning by -4% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 59% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to the United States ($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 Ecuador (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Inflator System Airbag Imports

Imports into Peru

In 2022, after three years of growth, there was significant decline in purchases abroad of airbags with inflator system and parts thereof, when their volume decreased by -22.1% to X tons. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 85%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced rapidly in the following year.

In value terms, inflator system airbag imports fell remarkably to $X in 2022. Overall, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 105% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then declined remarkably in the following year.

Imports by Country

Mexico (X tons), China (X tons) and Turkey (X tons) were the main suppliers of inflator system airbag imports to Peru, with a combined 71% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +39.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), China ($X) and Germany ($X) appeared to be the largest inflator system airbag suppliers to Peru, together accounting for 42% of total imports. South Korea, Japan, Brazil, the United States and Turkey lagged somewhat behind, together accounting for a further 22%.

Turkey, with a CAGR of +36.1%, 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

In 2022, the average inflator system airbag import price amounted to $X per ton, leveling off at the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2013 when the average import price increased by 23%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood 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 Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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