Latin America and the Caribbean: Market for Iron Or Steel Liquid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Liquid Fuel Domestic Appliances in Latin America and the Caribbean

The Latin American metal liquid fuel appliances market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption, however, continues to indicate a pronounced descent. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Iron Or Steel Liquid Fuel Domestic Appliances in Latin America and the Caribbean

In value terms, metal liquid fuel appliances production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced downturn. The pace of growth was the most pronounced in 2014 with an increase of 71% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

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Exports of Iron Or Steel Liquid Fuel Domestic Appliances

Exports in Latin America and the Caribbean

In 2022, metal liquid fuel appliances exports in Latin America and the Caribbean expanded significantly to X units, with an increase of 8.5% compared with the year before. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 360%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, metal liquid fuel appliances exports rose remarkably to $X in 2022. Over the period under review, exports, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2018 with an increase of 647% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Brazil represented the major exporting country with an export of about X units, which accounted for 73% of total exports. It was distantly followed by Jamaica (X units), creating a 22% share of total exports. Panama (X units) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the iron or steel liquid fuel domestic appliances exports, with a CAGR of +87.3% from 2012 to 2022. At the same time, Jamaica (+2.0%) displayed positive paces of growth. By contrast, Panama (-4.8%) illustrated a downward trend over the same period. Brazil (+73 p.p.) and Jamaica (+22 p.p.) significantly strengthened its position in terms of the total exports, while Panama saw its share reduced by -1.5% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest metal liquid fuel appliances supplier in Latin America and the Caribbean, comprising 66% of total exports. The second position in the ranking was taken by Jamaica ($X), with a 23% share of total exports.

In Brazil, metal liquid fuel appliances exports increased at an average annual rate of +33.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Jamaica (+15.2% per year) and Panama (-5.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, with a decrease of -1.7% against the previous year. In general, the export price showed a noticeable decline. The growth pace was the most rapid in 2015 an increase of 112%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jamaica (+1.9%), while the other leaders experienced a decline in the export price figures.

Imports of Iron Or Steel Liquid Fuel Domestic Appliances

Imports in Latin America and the Caribbean

After three years of decline, overseas purchases of iron or steel liquid fuel domestic appliances increased by 41% to X units in 2022. In general, imports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 85%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, metal liquid fuel appliances imports surged to $X in 2022. Overall, imports continue to indicate modest growth. The most prominent rate of growth was recorded in 2014 with an increase of 113%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Chile (X units) represented the main importer of iron or steel liquid fuel domestic appliances, making up 84% of total imports. It was distantly followed by Brazil (X units), mixing up a 10% share of total imports. Argentina (X units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to metal liquid fuel appliances imports into Chile stood at -6.8%. At the same time, Argentina (+11.7%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +11.7% from 2012-2022. By contrast, Brazil (-7.7%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported iron or steel liquid fuel domestic appliances in Latin America and the Caribbean, comprising 97% of total imports. The second position in the ranking was held by Brazil ($X), with a 0.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Chile stood at +2.0%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-10.2% per year) and Argentina (+13.6% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, with a decrease of -16.6% against the previous year. In general, the import price, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 an increase of 33%. As a result, import price attained the peak level of $X per unit, and then fell sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+9.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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