Uruguay: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Uruguay

The Uruguayan grinding and sharpening machine market expanded slightly to $X in 2022, with an increase of 3.1% 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, however, showed a modest expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Uruguay

In 2022, approx. X units of grinding and sharpening metal finishing machines were exported from Uruguay; with a decrease of -81.1% compared with 2021. Over the period under review, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 867% against the previous year. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, grinding and sharpening machine exports shrank sharply to $X in 2022. In general, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,816% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay (X units) was the main destination for grinding and sharpening machine exports from Uruguay, with a 86% share of total exports. Moreover, grinding and sharpening machine exports to Paraguay exceeded the volume sent to the second major destination, Italy (X units), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Paraguay totaled +11.6%.

In value terms, Italy ($X) emerged as the key foreign market for grinding and sharpening metal finishing machines exports from Uruguay, comprising 81% of total exports. The second position in the ranking was held by Paraguay ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Italy stood at -16.4%.

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, with an increase of 131% against the previous year. In general, the export price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 an increase of 1,433%. As a result, the export price attained the peak level of $X per unit. From 2014 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 Italy ($X per unit), while the average price for exports to Paraguay totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+3.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Uruguay

Grinding and sharpening machine imports into Uruguay reduced to X units in 2022, shrinking by -5.4% on 2021. Overall, imports, however, posted moderate growth. The growth pace was the most rapid in 2020 with an increase of 202%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, grinding and sharpening machine imports soared to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 73% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of grinding and sharpening machine to Uruguay, accounting for a 80% share of total imports. Moreover, grinding and sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fivefold. The third position in this ranking was taken by the United States (X units), with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+25.7% per year) and the United States (+0.9% per year).

In value terms, the largest grinding and sharpening machine suppliers to Uruguay were Canada ($X), China ($X) and Germany ($X), with a combined 77% share of total imports.

Canada, with a CAGR of +51.2%, recorded the highest rates of growth with regard to 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

The average grinding and sharpening machine import price stood at $X per unit in 2022, growing by 46% against the previous year. In general, the import price, however, recorded a mild downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 201% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a 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 Canada ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+121.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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