Latin America and the Caribbean: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in Latin America and the Caribbean

In 2023, the Latin American cored arc-welding wire market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2023 and is expected to retain growth in the near future.

Cored Arc-Welding Wire Production in Latin America and the Caribbean

In value terms, cored arc-welding wire production stood at $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2023, production stood at a somewhat lower figure.

Cored Arc-Welding Wire Exports

Exports in Latin America and the Caribbean

In 2023, after two years of growth, there was significant decline in shipments abroad of cored arc-welding wire, when their volume decreased by X% to X tons. In general, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, cored arc-welding wire exports dropped sharply to $X in 2023. Over the period under review, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Brazil (X tons) was the key exporter of cored arc-welding wire, mixing up X% of total exports. Mexico (X tons) took the second position in the ranking, distantly followed by the Dominican Republic (X tons), Peru (X tons) and Colombia (X tons). All these countries together took approx. X% share of total exports. Argentina (X tons) and Chile (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to cored arc-welding wire exports from Brazil stood at X%. At the same time, Peru (X%), Chile (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Mexico (X%), the Dominican Republic (X%) and Argentina (X%) illustrated a downward trend over the same period. Mexico (X p.p.), Peru (X p.p.), Colombia (X p.p.), Chile (X p.p.) and the Dominican Republic (X p.p.) significantly strengthened its position in terms of the total exports, while Brazil and Argentina saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Brazil ($X) remains the largest cored arc-welding wire supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by Colombia, with a X% share.

In Brazil, cored arc-welding wire exports declined by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (X% per year) and Colombia (X% per year).

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced mixed trends in the export price figures.

Cored Arc-Welding Wire Imports

Imports in Latin America and the Caribbean

For the third consecutive year, LatAmerica and the Caribbean recorded growth in overseas purchases of cored arc-welding wire, which increased by X% to X tons in 2023. Total imports indicated a buoyant increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2023 and are likely to continue growth in years to come.

In value terms, cored arc-welding wire imports expanded markedly to $X in 2023. Total imports indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked in 2023 and is likely to see gradual growth in years to come.

Imports by Country

Mexico represented the key importer of cored arc-welding wire in Latin America and the Caribbean, with the volume of imports recording X tons, which was near X% of total imports in 2023. Brazil (X tons) ranks second in terms of the total imports with a X% share, followed by Chile (X%) and Peru (X%). Argentina (X tons), Colombia (X tons) and Ecuador (X tons) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the cored arc-welding wire imports, with a CAGR of X% from 2012 to 2023. At the same time, Peru (X%), Ecuador (X%), Colombia (X%), Brazil (X%), Argentina (X%) and Chile (X%) displayed positive paces of growth. While the share of Mexico (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Argentina (X p.p.), Chile (X p.p.) and Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported cored arc-welding wire in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Chile, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Mexico totaled X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Chile (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price recorded a mild setback. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform