Latin America and the Caribbean: Coated Arc-Welding Electrode Market 2024

Coated Arc-Welding Electrode Market Size in Latin America and the Caribbean

In 2023, the Latin American coated arc-welding electrode market increased by X% to $X, rising for the third year in a row after three years of decline. In general, consumption, however, saw a noticeable decline. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Coated Arc-Welding Electrode Production in Latin America and the Caribbean

In value terms, coated arc-welding electrode production amounted to $X in 2023 estimated in export price. Overall, production showed a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2023, production failed to regain momentum.

Coated Arc-Welding Electrode Exports

Exports in Latin America and the Caribbean

In 2023, coated arc-welding electrode exports in Latin America and the Caribbean reduced to X tons, waning by X% against the year before. Over the period under review, exports saw a noticeable slump. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, coated arc-welding electrode exports stood at $X in 2023. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons) and Mexico (X tons) represented the main exporters of coated base metal electrodes for electric arc-welding in 2023, recording near X% and X% of total exports, respectively. It was distantly followed by Peru (X tons), Colombia (X tons), Guatemala (X tons) and Chile (X tons), together making up a X% share of total exports. Paraguay (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Guatemala (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest coated arc-welding electrode supplying countries in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Colombia ($X), together accounting for X% of total exports. Peru, Guatemala, Chile and Paraguay lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Guatemala, with a CAGR of X%, 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

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in the near future.

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 Mexico ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Coated Arc-Welding Electrode Imports

Imports in Latin America and the Caribbean

In 2023, the amount of coated base metal electrodes for electric arc-welding imported in Latin America and the Caribbean reached X tons, growing by X% against 2022 figures. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, coated arc-welding electrode imports rose remarkably to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

In 2023, Brazil (X tons), distantly followed by Peru (X tons), Ecuador (X tons), Chile (X tons), Venezuela (X tons), Mexico (X tons), Honduras (X tons), Bolivia (X tons) and El Salvador (X tons) represented the key importers of coated base metal electrodes for electric arc-welding, together making up X% of total imports. Argentina (X tons), Costa Rica (X tons), Panama (X tons) and Guatemala (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to coated arc-welding electrode imports into Brazil stood at X%. At the same time, Panama (X%), Peru (X%), Mexico (X%), Chile (X%), El Salvador (X%), Honduras (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Costa Rica, Ecuador and Argentina experienced a relatively flat trend pattern. By contrast, Venezuela (X%) and Bolivia (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.), Panama (X p.p.), Peru (X p.p.) and Mexico (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Argentina (X p.p.), Ecuador (X p.p.), Bolivia (X p.p.) and Venezuela (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Mexico ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Peru, Bolivia, Ecuador, Argentina, Guatemala, Costa Rica, Honduras, Venezuela, El Salvador and Panama lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Panama, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mexico ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bolivia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform