Puerto Rico: Illuminated Sign Market 2024

Illuminated Sign Market Size in Puerto Rico

The Puerto Rican illuminated sign market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, recorded a deep setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Illuminated Sign Production in Puerto Rico

In value terms, illuminated sign production surged to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Puerto Rico production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Illuminated Sign Exports

Exports from Puerto Rico

Illuminated sign exports from Puerto Rico totaled less than X kg in 2021, approximately reflecting the previous year's figure. In general, exports saw a relatively flat trend pattern.

In value terms, illuminated sign exports stood at less than $X in 2021. Over the period under review, exports saw a relatively flat trend pattern.

Exports by Country

China represented the key exporter of illuminated signs and illuminated name-plates in the world, with the volume of exports resulting at X tons, which was near 48% of total exports in 2021. Poland (X tons) held a 5.9% share (based on physical terms) of total exports, which put it in second place, followed by Germany (4.9%) and Turkey (4.8%). Malaysia (X tons), Spain (X tons), Belarus (X tons), the Netherlands (X tons), France (X tons), Mexico (X tons), Lithuania (X tons), Canada (X tons) and Hungary (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to illuminated sign exports from China stood at +6.9%. At the same time, Lithuania (+18.1%), Mexico (+14.5%), the Netherlands (+7.0%), Hungary (+6.7%), Poland (+5.5%), Malaysia (+4.3%) and Belarus (+2.9%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter exported in the world, with a CAGR of +18.1% from 2012-2021. Spain and Turkey experienced a relatively flat trend pattern. By contrast, Canada (-1.7%), France (-7.5%) and Germany (-10.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Poland increased by +17 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest illuminated sign supplier from Puerto Rico, comprising 34% of global exports. The second position in the ranking was held by Germany ($X), with a 7.9% share of global exports. It was followed by Poland, with a 5.2% share.

In China, illuminated sign exports increased at an average annual rate of +6.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (-3.6% per year) and Poland (+7.6% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, approximately equating the previous year. Over the period under review, the export price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.2%), while the other leaders experienced more modest paces of growth.

Illuminated Sign Imports

Imports into Puerto Rico

In 2021, approx. less than X kg of illuminated signs and illuminated name-plates were imported into Puerto Rico; leveling off at 2020 figures. Overall, imports continue to indicate a relatively flat trend pattern.

In value terms, illuminated sign imports stood at less than $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons), distantly followed by Germany (X tons), Saudi Arabia (X tons) and Australia (X tons) represented the major importers of illuminated signs and illuminated name-plates, together committing 31% of total imports. The following importers - France (X tons), the UK (X tons), Japan (X tons), Canada (X tons), Spain (X tons), Hong Kong SAR (X tons), Russia (X tons), the Netherlands (X tons) and Austria (X tons) - together made up 25% of total imports.

Imports into the United States increased at an average annual rate of +5.2% from 2012 to 2021. At the same time, the UK (+9.1%), Australia (+8.1%), Saudi Arabia (+5.3%), the Netherlands (+4.1%), Hong Kong SAR (+2.9%) and Japan (+1.7%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing importer imported in the world, with a CAGR of +9.1% from 2012-2021. France, Spain and Canada experienced a relatively flat trend pattern. By contrast, Austria (-3.9%), Germany (-4.6%) and Russia (-5.6%) illustrated a downward trend over the same period. While the share of the United States (+5.5 p.p.), Australia (+2.3 p.p.), the UK (+2.3 p.p.) and Saudi Arabia (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Germany (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported illuminated signs and illuminated name-plates into Puerto Rico, comprising 15% of global imports. The second position in the ranking was taken by France ($X), with a 6.6% share of global imports. It was followed by Germany, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States was relatively modest. In the other countries, the average annual rates were as follows: France (+3.5% per year) and Germany (-0.9% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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