Latin America and the Caribbean: Wooden Furniture Treatments Market 2023

Wooden Furniture Treatments Market Size in Latin America and the Caribbean

The Latin American wooden furniture treatments market rose significantly to $X in 2021, growing by 9% against the previous year. Overall, consumption, however, continues to indicate a noticeable contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Wooden Furniture Treatments Production in Latin America and the Caribbean

In value terms, wooden furniture treatments production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2015 when the production volume increased by 15%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Wooden Furniture Treatments Exports

Exports in Latin America and the Caribbean

In 2021, wooden furniture treatments exports in Latin America and the Caribbean dropped significantly to X tons, shrinking by -29.8% on the previous year's figure. Overall, exports saw a abrupt descent. The pace of growth appeared the most rapid in 2019 when exports increased by 4.9%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, wooden furniture treatments exports contracted dramatically to $X in 2021. Over the period under review, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2019 when exports increased by 8.7%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the five major exporters of polishes and creams for wooden furniture and floors, namely Brazil, Mexico, Chile, Argentina and Colombia, represented more than two-thirds of total export. It was distantly followed by Peru (X tons), achieving a 5.8% share of total exports.

From 2012 to 2021, the biggest increases were in Colombia (with a CAGR of +0.0%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest wooden furniture treatments supplying countries in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Colombia ($X), with a combined 71% share of total exports.

Colombia, with a CAGR of -4.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. Over the period under review, the export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Mexico ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.8%), while the other leaders experienced a decline in the export price figures.

Wooden Furniture Treatments Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of polishes and creams for wooden furniture and floors were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, showed a pronounced decline. The growth pace was the most rapid in 2017 with an increase of 11%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, wooden furniture treatments imports expanded markedly to $X in 2021. In general, imports, however, showed a noticeable setback. The pace of growth was the most pronounced in 2017 with an increase of 12% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Chile represented the major importing country with an import of about X tons, which finished at 32% of total imports. It was distantly followed by Uruguay (X tons), Guatemala (X tons), Paraguay (X tons) and Mexico (X tons), together generating a 37% share of total imports. Peru (X tons), Ecuador (X tons), Bolivia (X tons), El Salvador (X tons), Panama (X tons), Argentina (X tons), Belize (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to wooden furniture treatments imports into Chile stood at +2.6%. At the same time, Panama (+26.0%), Argentina (+15.9%), Bolivia (+7.5%), Guatemala (+6.6%) and El Salvador (+6.2%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +26.0% from 2012-2021. Uruguay and Peru experienced a relatively flat trend pattern. By contrast, Belize (-2.9%), Paraguay (-5.2%), Ecuador (-8.7%), Colombia (-9.3%) and Mexico (-15.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Chile, Guatemala, Uruguay, Panama, Bolivia, Argentina and El Salvador increased by +13, +5.6, +3.8, +1.8, +1.8, +1.6 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported polishes and creams for wooden furniture and floors in Latin America and the Caribbean, comprising 27% of total imports. The second position in the ranking was held by Guatemala ($X), with a 13% share of total imports. It was followed by Mexico, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Chile stood at +1.1%. In the other countries, the average annual rates were as follows: Guatemala (+2.7% per year) and Mexico (-10.0% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, approximately mirroring the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 6.4% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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