Latin America and the Caribbean: Metal Wool Market 2024

Metal Wool Market Size in Latin America and the Caribbean

The Latin American metal wool market contracted to $X in 2022, declining by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Metal Wool Production in Latin America and the Caribbean

In value terms, metal wool production fell to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Metal Wool Exports

Exports in Latin America and the Caribbean

In 2022, exports of iron or steel wool in Latin America and the Caribbean surged to X tons, rising by X% compared with 2021 figures. Total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, metal wool exports rose sharply to $X in 2022. Overall, exports, however, recorded a perceptible setback. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Mexico (X tons) represented the main exporter of iron or steel wool, constituting X% of total exports. It was distantly followed by Brazil (X tons), creating an X% share of total exports. Colombia (X tons), Ecuador (X tons) and Argentina (X tons) took a minor share of total exports.

Mexico was also the fastest-growing in terms of the iron or steel wool exports, with a CAGR of X% from 2012 to 2022. Colombia and Ecuador experienced a relatively flat trend pattern. Brazil (X%) and Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest metal wool supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Colombia (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

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

Metal Wool Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of iron or steel wool decreased by X% to X tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, metal wool imports totaled $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons), distantly followed by Colombia (X tons), Peru (X tons), Argentina (X tons), the Dominican Republic (X tons) and Venezuela (X tons) were the key importers of iron or steel wool, together creating X% of total imports. Brazil (X tons), Paraguay (X tons), Nicaragua (X tons), Uruguay (X tons), Haiti (X tons), Chile (X tons) and Ecuador (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal wool importing markets in Latin America and the Caribbean were Mexico ($X), Colombia ($X) and Argentina ($X), together accounting for X% of total imports. Peru, the Dominican Republic, Brazil, Venezuela, Chile, Haiti, Paraguay, Uruguay, Ecuador and Nicaragua lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Peru, with a CAGR of X%, recorded the highest growth rate of 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

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform