Latin America and the Caribbean: Market for Float Glass And Surface Ground or Polished Glass 2023

Market Size for Float Glass And Surface Ground or Polished Glass in Latin America and the Caribbean

The Latin American market for float glass and surface ground or polished glass reduced slightly to $X in 2022, dropping by -1.7% against the previous year. Overall, consumption saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 8.2% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Float Glass And Surface Ground or Polished Glass in Latin America and the Caribbean

In value terms, production of float glass and surface ground or polished glass amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 8.1%. Over the period under review, production of attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Float Glass And Surface Ground or Polished Glass

Exports in Latin America and the Caribbean

In 2022, overseas shipments of float glass and surface ground or polished glass increased by 15% to X square meters, rising for the second year in a row after two years of decline. Overall, exports, however, showed a deep slump. The pace of growth appeared the most rapid in 2015 with an increase of 23%. The volume of export peaked at X square meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of float glass and surface ground or polished glass soared to $X in 2022. In general, exports, however, recorded a pronounced descent. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil was the key exporter of float glass and surface ground or polished glass in Latin America and the Caribbean, with the volume of exports amounting to X square meters, which was near 65% of total exports in 2022. Mexico (X square meters) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Colombia (11%) and Argentina (8.2%). Guatemala (X square meters) took a minor share of total exports.

Exports from Brazil increased at an average annual rate of +16.2% from 2012 to 2022. At the same time, Guatemala (+38.6%), Colombia (+21.5%) and Argentina (+9.4%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +38.6% from 2012-2022. By contrast, Mexico (-22.3%) illustrated a downward trend over the same period. Brazil (+57 p.p.), Colombia (+9.8 p.p.), Argentina (+6.5 p.p.) and Guatemala (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -65.7% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest float glass and surface ground or polished glass supplier in Latin America and the Caribbean, comprising 68% of total exports. The second position in the ranking was held by Mexico ($X), with a 17% share of total exports. It was followed by Colombia, with a 7.7% share.

In Brazil, exports of float glass and surface ground or polished glass expanded at an average annual rate of +14.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (-17.7% per year) and Colombia (+16.4% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per square meter in 2022, growing by 4.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2017 an increase of 22%. The level of export peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per square meter), while Argentina ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Float Glass And Surface Ground or Polished Glass

Imports in Latin America and the Caribbean

Imports of float glass and surface ground or polished glass contracted rapidly to X square meters in 2022, shrinking by -15.4% against the previous year's figure. In general, imports showed a slight reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 63%. As a result, imports reached the peak of X square meters, and then contracted notably in the following year.

In value terms, imports of float glass and surface ground or polished glass reduced to $X in 2022. Total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.7% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 83%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Bolivia (X square meters) and Peru (X square meters) represented the key importers of float glass and surface ground or polished glass in Latin America and the Caribbean, together amounting to near 33% of total imports. Ecuador (X square meters) ranks next in terms of the total imports with a 10% share, followed by Mexico (8.4%), Colombia (7%), the Dominican Republic (6.8%), Argentina (5.2%) and Guatemala (5.1%). The following importers - Chile (X square meters), Panama (X square meters), Brazil (X square meters), Paraguay (X square meters) and Uruguay (X square meters) - together made up 16% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Panama (with a CAGR of +86.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest float glass and surface ground or polished glass importing markets in Latin America and the Caribbean were Peru ($X), Mexico ($X) and Ecuador ($X), with a combined 37% share of total imports. These countries were followed by the Dominican Republic, Colombia, Guatemala, Argentina, Bolivia, Chile, Brazil, Panama, Paraguay and Uruguay, which together accounted for a further 53%.

Panama, with a CAGR of +84.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per square meter in 2022, with an increase of 11% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2021 when the import price increased by 12%. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Guatemala ($X per square meter), while Bolivia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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