Latin America and the Caribbean: Market for Mattresses other than of cellular rubber or plastics 2024

Market Size for Mattresses other than of cellular rubber or plastics in Latin America and the Caribbean

In 2022, the Latin American market for mattresses other than of cellular rubber or plastics increased by 3.3% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Production of Mattresses other than of cellular rubber or plastics in Latin America and the Caribbean

In value terms, production of mattresses other than of cellular rubber or plastics declined to $X in 2022 estimated in export price. The total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.9% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 59% against the previous year. The level of production peaked at $X in 2021, and then shrank slightly in the following year.

Exports of Mattresses other than of cellular rubber or plastics

Exports in Latin America and the Caribbean

Exports of mattresses other than of cellular rubber or plastics contracted slightly to X units in 2022, approximately mirroring the previous year's figure. Overall, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 165%. As a result, the exports attained the peak of X units, and then fell in the following year.

In value terms, exports of mattresses other than of cellular rubber or plastics expanded markedly to $X in 2022. In general, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 115%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Mexico dominates plastics structure, accounting for X units, which was approx. 75% of total exports in 2022. Brazil (X units) held a 6.8% share (based on physical terms) of total exports, which put it in second place, followed by Guatemala (5.7%). The following exporters - El Salvador (X units) and Honduras (X units) - together made up 6.9% of total exports.

Mexico was also the fastest-growing in terms of the mattresses other than of cellular rubber or plastics exports, with a CAGR of +36.1% from 2012 to 2022. At the same time, Brazil (+12.8%), Honduras (+5.1%) and Guatemala (+4.0%) displayed positive paces of growth. El Salvador experienced a relatively flat trend pattern. While the share of Mexico (+59 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (-2.7 p.p.), Honduras (-4.7 p.p.), Guatemala (-12.3 p.p.) and El Salvador (-14.5 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest mattresses other than of cellular rubber or plastics supplier in Latin America and the Caribbean, comprising 69% of total exports. The second position in the ranking was held by Guatemala ($X), with an 8.1% share of total exports. It was followed by El Salvador, with a 7.1% share.

In Mexico, exports of mattresses other than of cellular rubber or plastics increased at an average annual rate of +38.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guatemala (+8.8% per year) and El Salvador (+5.3% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, rising by 14% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 29% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a 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 El Salvador ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+4.7%), while the other leaders experienced more modest paces of growth.

Imports of Mattresses other than of cellular rubber or plastics

Imports in Latin America and the Caribbean

After two years of growth, overseas purchases of mattresses other than of cellular rubber or plastics decreased by -20.1% to X units in 2022. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 40%. As a result, imports reached the peak of X units, and then declined rapidly in the following year.

In value terms, imports of mattresses other than of cellular rubber or plastics contracted to $X in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 39%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

The countries with the highest levels of imports of mattresses other than of cellular rubber or plastics in 2022 were Mexico (X units), Chile (X units), Nicaragua (X units), Brazil (X units), Costa Rica (X units), Uruguay (X units), Bolivia (X units), Guatemala (X units), Jamaica (X units), Honduras (X units), Panama (X units) and El Salvador (X units), together finishing at 83% of total import.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +31.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mattresses other than of cellular rubber or plastics importing markets in Latin America and the Caribbean were Nicaragua ($X), Mexico ($X) and Costa Rica ($X), with a combined 32% share of total imports. Bolivia, Uruguay, Guatemala, Chile, Jamaica, Panama, Honduras, El Salvador and Brazil lagged somewhat behind, together accounting for a further 50%.

Panama, with a CAGR of +32.2%, saw the highest growth rate of 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, surging by 17% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 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 Chile (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :