Latin America and the Caribbean: Wooden Window Market 2022

Wooden Window Market Size in Latin America and the Caribbean

The Latin American wooden window market soared to $X in 2021, jumping by 26% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Wooden Window Production in Latin America and the Caribbean

In value terms, wooden window production surged to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Wooden Window Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of windows, french windows and their frames of wood increased by 7.9% to X tons, rising for the second consecutive year after three years of decline. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +49.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 56% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, wooden window exports totaled $X in 2021. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 85% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Guatemala represented the key exporter of windows, french windows and their frames of wood in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was near 54% of total exports in 2021. Mexico (X tons) held a 25% share (based on physical terms) of total exports, which put it in second place, followed by Jamaica (8.8%) and Colombia (5.4%). Ecuador (X tons) followed a long way behind the leaders.

Exports from Guatemala increased at an average annual rate of +11.7% from 2012 to 2021. At the same time, Jamaica (+51.0%), Colombia (+18.8%), Ecuador (+4.1%) and Mexico (+3.1%) displayed positive paces of growth. Moreover, Jamaica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +51.0% from 2012-2021. While the share of Guatemala (+23 p.p.), Jamaica (+8.4 p.p.) and Colombia (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guatemala ($X), Mexico ($X) and Jamaica ($X) constituted the countries with the highest levels of exports in 2021, together comprising 93% of total exports.

Among the main exporting countries, Jamaica, with a CAGR of +62.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, remaining constant against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2015 an increase of 18%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Jamaica ($X per ton), while Ecuador ($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 (+9.9%), while the other leaders experienced mixed trends in the export price figures.

Wooden Window Imports

Imports in Latin America and the Caribbean

In 2021, after two years of growth, there was decline in purchases abroad of windows, french windows and their frames of wood, when their volume decreased by -4.9% to X tons. Over the period under review, imports showed a slight setback. The pace of growth appeared the most rapid in 2017 with an increase of 36%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, wooden window imports declined to $X in 2021. In general, imports saw a mild shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 32% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Bahamas (X tons), distantly followed by Chile (X tons) and Cayman Islands (X tons) represented the key importers of windows, french windows and their frames of wood, together mixing up 61% of total imports. Argentina (X tons), Cuba (X tons), Jamaica (X tons), Panama (X tons), Mexico (X tons), British Virgin Islands (X tons), Antigua and Barbuda (X tons), Anguilla (X tons), the Dominican Republic (X tons) and Costa Rica (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by British Virgin Islands (with a CAGR of +16.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden window importing markets in Latin America and the Caribbean were Bahamas ($X), Cayman Islands ($X) and Chile ($X), together accounting for 51% of total imports. These countries were followed by Antigua and Barbuda, Jamaica, Mexico, Panama, the Dominican Republic, Argentina, Cuba, British Virgin Islands, Anguilla and Costa Rica, which together accounted for a further 36%.

In terms of the main importing countries, Antigua and Barbuda, with a CAGR of +12.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, falling by -4.3% 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 2014 an increase of 13% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Antigua and Barbuda ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jamaica (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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