Latin America and the Caribbean: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in Latin America and the Caribbean

The Latin American forged stainless steel bar market declined slightly to $X in 2023, which is down by X% against the previous year. In general, consumption showed a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2018 to 2023, the growth of the market failed to regain momentum.

Production of Forged Bars Of Stainless Steel in Latin America and the Caribbean

In value terms, forged stainless steel bar production fell to $X in 2023 estimated in export price. Overall, production recorded a mild contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2023, production growth remained at a somewhat lower figure.

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Exports of Forged Bars Of Stainless Steel

Exports in Latin America and the Caribbean

In 2023, the amount of forged bars of stainless steel exported in Latin America and the Caribbean fell to X tons, which is down by X% against 2022 figures. Over the period under review, exports saw a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, the exports attained the peak of X tons. From 2017 to 2023, the growth of the exports remained at a lower figure.

In value terms, forged stainless steel bar exports declined markedly to $X in 2023. In general, exports saw a precipitous contraction. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of forged bars of stainless steel, namely El Salvador, Brazil and Costa Rica, represented more than half of total export. Guatemala (X tons) held the next position in the ranking, followed by Trinidad and Tobago (X tons), Mexico (X tons) and Peru (X tons). All these countries together held near X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for El Salvador (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Costa Rica ($X) and Guatemala ($X) appeared to be the countries with the highest levels of exports in 2023, together comprising X% of total exports. Mexico, El Salvador, Peru and Trinidad and Tobago lagged somewhat behind, together accounting for a further X%.

El Salvador, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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, declining by X% against the previous year. In general, the export price showed a abrupt descent. The pace of growth appeared the most rapid in 2015 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while Trinidad and Tobago ($X per ton) was amongst the lowest.

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

Imports of Forged Bars Of Stainless Steel

Imports in Latin America and the Caribbean

In 2023, purchases abroad of forged bars of stainless steel increased by X% to X tons, rising for the fifth consecutive year after four years of decline. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in the near future.

In value terms, forged stainless steel bar imports skyrocketed to $X in 2023. Over the period under review, imports, however, continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

Grenada (X tons) and Mexico (X tons) represented the key importers of forged bars of stainless steel in 2023, accounting for near X% and X% of total imports, respectively. Colombia (X tons) held the next position in the ranking, followed by Peru (X tons) and Brazil (X tons). All these countries together held near X% share of total imports. Bahamas (X tons), Argentina (X tons), Guatemala (X tons), Costa Rica (X tons) and El Salvador (X tons) held a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Grenada (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported forged bars of stainless steel in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with an X% share of total imports. It was followed by Grenada, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Mexico totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Grenada (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, growing by X% against the previous year. Overall, the import price, however, showed a mild curtailment. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a 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 Costa Rica ($X per ton), while Grenada ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform