MERCOSUR: Radiator Market 2023

Radiator Market Size in MERCOSUR

In 2022, after two years of growth, there was significant decline in the MERCOSUR radiator market, when its value decreased by -9.9% to $X. Overall, consumption, however, showed a perceptible increase. Over the period under review, the market hit record highs at $X in 2021, and then declined in the following year.

Radiator Production in MERCOSUR

In value terms, radiator production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 23%. Over the period under review, production reached the maximum level in 2022 and is expected to retain growth in years to come.

Radiator Exports

Exports in MERCOSUR

In 2022, approx. X tons of radiators for central heating (not electrically heated) were exported in MERCOSUR; growing by 33% on the previous year. In general, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2017 when exports increased by 101%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, radiator exports shrank notably to $X in 2022. Over the period under review, exports, however, continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2017 with an increase of 82% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil was the main exporter of radiators for central heating (not electrically heated) in MERCOSUR, with the volume of exports amounting to X tons, which was near 69% of total exports in 2022. It was distantly followed by Colombia (X tons), constituting a 28% share of total exports.

Exports from Brazil increased at an average annual rate of +6.4% from 2012 to 2022. At the same time, Colombia (+12.4%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +12.4% from 2012-2022. From 2012 to 2022, the share of Colombia and Brazil increased by +14 and +8.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest radiator supplier in MERCOSUR, comprising 64% of total exports. The second position in the ranking was held by Colombia ($X), with a 31% share of total exports.

In Brazil, radiator exports contracted by an average annual rate of -2.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, declining by -36.9% against the previous year. In general, the export price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2016 when the export price increased by 90%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (-3.0%).

Radiator Imports

Imports in MERCOSUR

In 2022, purchases abroad of radiators for central heating (not electrically heated) decreased by -6.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, saw moderate growth. The pace of growth was the most pronounced in 2018 when imports increased by 60%. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, radiator imports declined to $X in 2022. In general, imports, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2018 with an increase of 56%. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Chile represented the key importing country with an import of around X tons, which finished at 53% of total imports. It was distantly followed by Brazil (X tons) and Argentina (X tons), together creating a 44% share of total imports. Colombia (X tons) followed a long way behind the leaders.

Imports into Chile increased at an average annual rate of +3.6% from 2012 to 2022. At the same time, Argentina (+11.1%), Colombia (+4.1%) and Brazil (+3.2%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +11.1% from 2012-2022. From 2012 to 2022, the share of Argentina increased by +8.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Chile ($X) and Argentina ($X) were the countries with the highest levels of imports in 2022, with a combined 91% share of total imports.

In terms of the main importing countries, Argentina, with a CAGR of +12.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the import price, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2021 an increase of 7.7% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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