Latin America and the Caribbean: Steel Spring Market 2024

Steel Spring Market Size in Latin America and the Caribbean

The Latin American steel spring market totaled $X in 2022, with an increase of X% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Steel Spring Production in Latin America and the Caribbean

In value terms, steel spring production shrank slightly to $X in 2022 estimated in export price. The total output 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 2015 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Steel Spring Exports

Exports in Latin America and the Caribbean

Steel spring exports was estimated at X tons in 2022, surging by X% compared with 2021 figures. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel spring exports rose sharply to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Mexico prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Brazil (X tons), comprising a X% share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of steel springs and leaves for springs. Brazil experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest steel spring supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to X%.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price 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, steel spring export price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Mexico amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%).

Steel Spring Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of steel springs and leaves for springs increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, saw a noticeable contraction. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, steel spring imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Mexico prevails in imports structure, reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Brazil (X tons) and Colombia (X tons), together making up a X% share of total imports. Argentina (X tons), Chile (X tons) and Peru (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to steel spring imports into Mexico stood at X%. At the same time, Colombia (X%), Argentina (X%), Peru (X%) and Chile (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Brazil (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Colombia and Argentina increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported steel springs and leaves for springs in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, shrinking by X% against the previous year. In general, the import price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, 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.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :