Latin America and the Caribbean: Winding Wire Market 2024

Winding Wire Market Size in Latin America and the Caribbean

In 2022, the Latin American winding wire market increased by X% to $X, rising for the third year in a row after two years of decline. In general, consumption recorded a noticeable descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Winding Wire Production in Latin America and the Caribbean

In value terms, winding wire production expanded to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Winding Wire Exports

Exports in Latin America and the Caribbean

In 2022, the amount of winding wire for electrical purposes exported in Latin America and the Caribbean shrank modestly to X tons, with a decrease of X% against 2021 figures. Overall, exports saw a mild slump. The growth pace was the most rapid in 2021 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, winding wire exports reached $X in 2022. Total exports indicated a mild increase from 2012 to 2022: its value 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Mexico dominates exports structure, recording X tons, which was near X% of total exports in 2022. It was distantly followed by Brazil (X tons), constituting an X% share of total exports. Venezuela (X tons) followed a long way behind the leaders.

Exports from Mexico decreased at an average annual rate of X% from 2012 to 2022. At the same time, Venezuela (X%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported 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. Mexico (X p.p.) and Venezuela (X p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by X% from 2012 to 2022, respectively.

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

In Mexico, winding wire exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Venezuela (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated perceptible growth 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, winding wire export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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 Mexico ($X per ton), while Venezuela ($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 mixed trends in the export price figures.

Winding Wire Imports

Imports in Latin America and the Caribbean

Winding wire imports dropped to X tons in 2022, reducing by X% against 2021. In general, imports saw a slight contraction. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, winding wire imports expanded modestly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Mexico (X tons) was the key importer of winding wire for electrical purposes, constituting X% of total imports. Brazil (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (X%). Chile (X tons), the Dominican Republic (X tons), Ecuador (X tons) and Paraguay (X tons) held a little share of total imports.

Imports into Mexico decreased at an average annual rate of X% from 2012 to 2022. At the same time, Paraguay (X%), Brazil (X%), the Dominican Republic (X%) and Chile (X%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Ecuador (X%) and Colombia (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported winding wire for electrical purposes in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with an X% share of total imports. It was followed by Brazil, with a X% share.

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

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in the near future.

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 the Dominican Republic ($X per ton), while Brazil ($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