Uruguay: Market for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels 2022

Market Size for Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels in Uruguay

The Uruguayan market for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels skyrocketed to $X in 2021, jumping by 34% 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, consumption, however, saw a mild downturn. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Exports from Uruguay

For the third consecutive year, Uruguay recorded decline in shipments abroad of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels, which decreased by -35.6% to X units in 2021. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 351% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, grease fittings and oil seals exports dropped remarkably to $X in 2021. Overall, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2015 when exports increased by 222% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for grease fittings and oil seals exports from Uruguay, with a 63% share of total exports. Moreover, grease fittings and oil seals exports to the United States exceeded the volume sent to the second major destination, Spain (X units), fourfold. The third position in this ranking was held by Mexico (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +361.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+23.4% per year) and Mexico (0.0% per year).

In value terms, the United States ($X), Mexico ($X) and Spain ($X) appeared to be the largest markets for grease fittings and oil seals exported from Uruguay worldwide, together comprising 95% of total exports.

Among the main countries of destination, the United States, with a CAGR of +8.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels stood at $X per unit in 2021, growing by 4.5% against the previous year. Over the period under review, the export price enjoyed a prominent increase. The pace of growth was the most pronounced in 2019 an increase of 206% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Mexico ($X per unit), while the average price for exports to Argentina ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+12.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Non-Automatic Lubricating Pots, Greasing Nipples, Oil Seal Rings And Hand Wheels

Imports into Uruguay

In 2021, approx. X units of non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels were imported into Uruguay; growing by 17% against 2020. Over the period under review, imports, however, continue to indicate a noticeable setback. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, grease fittings and oil seals imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a slight descent. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Brazil (X units), Argentina (X units) and the United States (X units) were the main suppliers of grease fittings and oil seals imports to Uruguay, with a combined 60% share of total imports. These countries were followed by the UK, China, Italy and Taiwan (Chinese), which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +22.1%), while imports for the other leaders experienced a decline.

In value terms, the largest grease fittings and oil seals suppliers to Uruguay were Brazil ($X), Argentina ($X) and the United States ($X), with a combined 55% share of total imports. The UK, Italy, China and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 22%.

The UK, with a CAGR of +20.0%, 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 2021, the average import price for non-automatic lubricating pots, greasing nipples, oil seal rings and hand wheels amounted to $X per unit, increasing by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2015 an increase of 17% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Italy ($X per unit) and the UK ($X per unit), while the price for Taiwan (Chinese) ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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