Venezuela: Non-Alloy Aluminium Bar Market 2024

Non-Alloy Aluminium Bar Market Size in Venezuela

In 2021, the Venezuelan non-alloy aluminium bar market decreased by -3.7% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Non-Alloy Aluminium Bar Production in Venezuela

In value terms, non-alloy aluminium bar production declined to $X in 2021 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +64.3% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 32%. Non-alloy aluminium bar production peaked at $X in 2020, and then shrank in the following year.

Non-Alloy Aluminium Bar Exports

Exports from Venezuela

In 2021, overseas shipments of non-alloy aluminium bars, rods and profiles were finally on the rise to reach X tons after three years of decline. In general, exports, however, continue to indicate a dramatic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 567% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-alloy aluminium bar exports soared to $X in 2021. Overall, exports, however, showed a sharp slump. The growth pace was the most rapid in 2017 with an increase of 733%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), Colombia (X tons) and Mexico (X kg) were the main destinations of non-alloy aluminium bar exports from Venezuela, with a combined 100% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of -20.0%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for non-alloy aluminium bar exported from Venezuela were the United States ($X), Colombia ($X) and Mexico ($X), with a combined 99% share of total exports.

The United States, with a CAGR of -9.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average non-alloy aluminium bar export price stood at $X per ton in 2021, with a decrease of -31.1% against the previous year. Overall, the export price, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 71%. As a result, the export price attained the peak level of $X per ton, and then contracted remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Mexico ($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 Colombia (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Alloy Aluminium Bar Imports

Imports into Venezuela

In 2021, overseas purchases of non-alloy aluminium bars, rods and profiles increased by 639% to X tons, rising for the third year in a row after three years of decline. Over the period under review, imports, however, recorded a abrupt contraction. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, non-alloy aluminium bar imports soared to $X in 2021. In general, imports, however, showed a abrupt downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Mexico (X tons) constituted the largest non-alloy aluminium bar supplier to Venezuela, accounting for a 29% share of total imports. Moreover, non-alloy aluminium bar imports from Mexico exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was held by Spain (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico totaled -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-9.0% per year) and Spain (+7.1% per year).

In value terms, Mexico ($X) constituted the largest supplier of non-alloy aluminium bars, rods and profiles to Venezuela, comprising 54% of total imports. The second position in the ranking was held by Spain ($X), with a 9.5% share of total imports. It was followed by Italy, with a 9% share.

From 2012 to 2021, the average annual growth rate of value from Mexico stood at -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-13.0% per year) and Italy (-17.2% per year).

Import Prices by Country

The average non-alloy aluminium bar import price stood at $X per ton in 2021, shrinking by -15.5% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 an increase of 19% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then reduced dramatically in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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