Uruguay: Ball Bearing Market 2024

Ball Bearing Market Size in Uruguay

The Uruguayan ball bearing market surged to $X in 2021, picking up by 58% 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). Overall, consumption recorded a modest increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ball Bearing Exports

Exports from Uruguay

In 2021, exports of ball bearings from Uruguay skyrocketed to X tons, increasing by 65% compared with 2020 figures. Over the period under review, exports continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 265% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, ball bearing exports surged to $X in 2021. In general, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 147%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil (X tons), Argentina (X tons) and Paraguay (X tons) were the main destinations of ball bearing exports from Uruguay, with a combined 87% share of total exports. These countries were followed by Mexico, Canada, Denmark and Free Zones, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +179.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ball bearing exported from Uruguay were Brazil ($X), Argentina ($X) and Paraguay ($X), together comprising 77% of total exports. These countries were followed by Mexico, Canada, Free Zones and Denmark, which together accounted for a further 19%.

Canada, with a CAGR of +125.2%, recorded the highest rates of growth with regard to 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 2021, the average ball bearing export price amounted to $X per ton, which is down by -23.4% against the previous year. In general, the export price continues to indicate a abrupt contraction. The growth pace was the most rapid in 2014 an increase of 44%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Free Zones ($X per ton), while the average price for exports to Denmark ($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 Free Zones (+18.3%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Imports

Imports into Uruguay

In 2021, the amount of ball bearings imported into Uruguay skyrocketed to X tons, rising by 76% against the previous year's figure. In general, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing imports surged to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ball bearing to Uruguay, accounting for a 45% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Brazil (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.6% per year) and Brazil (+8.0% per year).

In value terms, China ($X) constituted the largest supplier of ball bearings to Uruguay, comprising 30% of total imports. The second position in the ranking was held by Japan ($X), with a 14% share of total imports. It was followed by Brazil, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.1% per year) and Brazil (+2.9% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, reducing by -11.2% against the previous year. Over the period under review, the import price continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2015 when the average import price increased by 3.9% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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