Latin America and the Caribbean: Prefabricated Buildings Market 2022

Prefabricated Buildings Market Size in Latin America and the Caribbean

The Latin American prefabricated buildings market rose significantly to $X in 2021, increasing by 6.9% against the previous year. In general, consumption posted a resilient expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Prefabricated Buildings Production in Latin America and the Caribbean

In value terms, prefabricated buildings production totaled $X in 2021 estimated in export price. In general, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 40%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Prefabricated Buildings Exports

Exports in Latin America and the Caribbean

In 2021, the amount of prefabricated buildings exported in Latin America and the Caribbean skyrocketed to X units, rising by 29% on the year before. Total exports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 40% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, prefabricated buildings exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a perceptible decline. The pace of growth appeared the most rapid in 2014 when exports increased by 97% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico was the major exporter of prefabricated buildings in Latin America and the Caribbean, with the volume of exports reaching X units, which was near 52% of total exports in 2021. It was distantly followed by Brazil (X units), comprising a 34% share of total exports. Argentina (X units), Colombia (X units) and Chile (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Brazil (with a CAGR of +7.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest prefabricated buildings supplying countries in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Chile ($X), with a combined 85% share of total exports.

Chile, with a CAGR of +4.1%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, reducing by -4.6% against the previous year. Overall, the export price continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2014 an increase of 53% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Chile ($X per unit), while Argentina ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.4%), while the other leaders experienced a decline in the export price figures.

Prefabricated Buildings Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of prefabricated buildings increased by 5.8% to X units, rising for the third consecutive year after two years of decline. In general, imports, however, saw a mild downturn. The growth pace was the most rapid in 2020 when imports increased by 32% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, prefabricated buildings imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a drastic downturn. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Mexico (X units) represented the main importer of prefabricated buildings, constituting 40% of total imports. It was distantly followed by Chile (X units), Uruguay (X units), Peru (X units) and Cuba (X units), together making up a 35% share of total imports. Panama (X units), Aruba (X units), Paraguay (X units), Costa Rica (X units) and Colombia (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to prefabricated buildings imports into Mexico stood at +1.1%. At the same time, Aruba (+63.2%), Panama (+42.9%), Costa Rica (+15.2%), Paraguay (+15.1%), Cuba (+12.1%), Uruguay (+11.8%), Peru (+8.0%) and Chile (+4.9%) displayed positive paces of growth. Moreover, Aruba emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +63.2% from 2012-2021. By contrast, Colombia (-9.9%) illustrated a downward trend over the same period. Chile (+7 p.p.), Mexico (+6.8 p.p.), Uruguay (+5.1 p.p.), Panama (+3.7 p.p.), Cuba (+3.3 p.p.), Peru (+2.8 p.p.), Aruba (+2.8 p.p.) and Paraguay (+2 p.p.) significantly strengthened its position in terms of the total imports, while Colombia saw its share reduced by -2.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported prefabricated buildings in Latin America and the Caribbean, comprising 40% of total imports. The second position in the ranking was taken by Chile ($X), with a 12% share of total imports. It was followed by Cuba, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico was relatively modest. In the other countries, the average annual rates were as follows: Chile (-0.3% per year) and Cuba (+11.0% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, with an increase of 17% against the previous year. In general, the import price, however, showed a perceptible slump. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Colombia ($X per unit), while Uruguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+5.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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