Uruguay: Metal Castor Mounting Market 2024

Metal Castor Mounting Market Size in Uruguay

The Uruguayan metal castor mounting market was estimated at $X in 2022, increasing by 4% 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). In general, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.3% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in the immediate term.

Metal Castor Mounting Exports

Exports from Uruguay

In 2022, overseas shipments of castors with mountings of base metal increased by 11% to X kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a slight reduction. The pace of growth appeared the most rapid in 2016 when exports increased by 14,525%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal castor mounting exports soared to $X in 2022. Overall, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 10,847% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Argentina (X kg) and Paraguay (X kg) were the main destinations of metal castor mounting exports from Uruguay.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Paraguay (with a CAGR of +47.6%).

In value terms, Argentina ($X) emerged as the key foreign market for castors with mountings of base metal exports from Uruguay, comprising 68% of total exports. The second position in the ranking was taken by Paraguay ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Argentina amounted to +67.0%.

Export Prices by Country

In 2022, the average metal castor mounting export price amounted to $X per ton, picking up by 13% against the previous year. Over the period under review, the export price continues to indicate strong growth. The growth pace was the most rapid in 2014 when the average export price increased by 121% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Paraguay totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+26.2%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Castor Mounting Imports

Imports into Uruguay

In 2022, approx. X tons of castors with mountings of base metal were imported into Uruguay; falling by -3.7% compared with the previous year's figure. In general, imports, however, posted resilient growth. The growth pace was the most rapid in 2017 with an increase of 69% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, metal castor mounting imports rose sharply to $X in 2022. Overall, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.5% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 66% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest metal castor mounting supplier to Uruguay, accounting for a 71% share of total imports. Moreover, metal castor mounting imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), ninefold. The third position in this ranking was taken by Spain (X tons), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+12.8% per year) and Spain (+1.7% per year).

In value terms, China ($X) constituted the largest supplier of castors with mountings of base metal to Uruguay, comprising 39% of total imports. The second position in the ranking was taken by Spain ($X), with a 15% share of total imports. It was followed by Brazil, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.8% per year) and Brazil (+7.9% per year).

Import Prices by Country

In 2022, the average metal castor mounting import price amounted to $X per ton, growing by 10% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 15%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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