Latin America and the Caribbean: Metal Chain Parts Market 2024

Metal Chain Parts Market Size in Latin America and the Caribbean

In 2023, the Latin American metal chain parts market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2023, the growth of the market failed to regain momentum.

Metal Chain Parts Production in Latin America and the Caribbean

In value terms, metal chain parts production rose sharply to $X in 2023 estimated in export price. In general, production, however, recorded a noticeable setback. The growth pace was the most rapid in 2015 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Metal Chain Parts Exports

Exports in Latin America and the Caribbean

In 2023, after two years of growth, there was significant decline in overseas shipments of parts of chains of iron or steel, when their volume decreased by X% to X tons. In general, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, metal chain parts exports amounted to $X in 2023. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Chile represented the key exporter of parts of chains of iron or steel in Latin America and the Caribbean, with the volume of exports recording X tons, which was approx. X% of total exports in 2023. Mexico (X tons) held the second position in the ranking, distantly followed by Colombia (X tons) and Ecuador (X tons). All these countries together took near X% share of total exports. The following exporters - Brazil (X kg), Peru (X kg), the Dominican Republic (X kg), Costa Rica (X kg), El Salvador (X kg), Trinidad and Tobago (X kg) and Panama (X kg) - together made up X% of total exports.

Exports from Chile decreased at an average annual rate of X% from 2012 to 2023. At the same time, the Dominican Republic (X%), El Salvador (X%), Costa Rica (X%), Ecuador (X%) and Trinidad and Tobago (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Mexico (X%), Colombia (X%), Peru (X%), Panama (X%) and Brazil (X%) illustrated a downward trend over the same period. Chile (X p.p.), Mexico (X p.p.), Ecuador (X p.p.), the Dominican Republic (X p.p.), Costa Rica (X p.p.), El Salvador (X p.p.) and Trinidad and Tobago (X p.p.) significantly strengthened its position in terms of the total exports, while Colombia, Peru, Panama and Brazil saw its share reduced by X%, X%, X% and X% from 2012 to 2023, respectively.

In value terms, the largest metal chain parts supplying countries in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Colombia ($X), together comprising X% of total exports.

Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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, growing by X% against the previous year. Over the period under review, the export price showed a strong expansion. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

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

Metal Chain Parts Imports

Imports in Latin America and the Caribbean

In 2023, the amount of parts of chains of iron or steel imported in Latin America and the Caribbean fell to X tons, with a decrease of X% on the previous year's figure. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports remained at a lower figure.

In value terms, metal chain parts imports fell modestly to $X in 2023. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

Chile was the major importing country with an import of about X tons, which amounted to X% of total imports. Mexico (X tons) took the second position in the ranking, followed by Brazil (X tons) and Ecuador (X tons). All these countries together took approx. X% share of total imports. The following importers - Peru (X tons), Colombia (X tons), Paraguay (X tons), Trinidad and Tobago (X tons), Guyana (X tons), Argentina (X tons), the Dominican Republic (X tons) and El Salvador (X tons) - together made up X% of total imports.

Chile experienced a relatively flat trend pattern with regard to volume of imports of parts of chains of iron or steel. At the same time, Guyana (X%), Paraguay (X%), El Salvador (X%), Mexico (X%), Ecuador (X%), Trinidad and Tobago (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Peru and the Dominican Republic experienced a relatively flat trend pattern. By contrast, Argentina (X%) and Brazil (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.), Chile (X p.p.), Paraguay (X p.p.), Ecuador (X p.p.) and Guyana (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal chain parts importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Brazil ($X), with a combined X% share of total imports. Ecuador, Colombia, Peru, the Dominican Republic, Trinidad and Tobago, Argentina, Paraguay, Guyana and El Salvador lagged somewhat behind, together comprising a further X%.

Guyana, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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 ton in 2023, growing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the import price increased by X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

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

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

Source: IndexBox Platform