Mexico: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in Mexico

The Mexican cored arc-welding wire market soared to $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a buoyant 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, consumption increased by X% against 2020 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the near future.

Cored Arc-Welding Wire Exports

Exports from Mexico

For the third year in a row, Mexico recorded decline in shipments abroad of cored arc-welding wire, which decreased by X% to X tons in 2022. Over the period under review, exports saw a pronounced descent. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, cored arc-welding wire exports declined to $X in 2022. In general, exports saw a abrupt decline. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X tons), the United States (X tons) and Nicaragua (X tons) were the main destinations of cored arc-welding wire exports from Mexico, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cored arc-welding wire exported from Mexico were the United States ($X), Guatemala ($X) and Nicaragua ($X), together comprising X% of total exports.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cored arc-welding wire export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.

Cored Arc-Welding Wire Imports

Imports into Mexico

In 2022, the amount of cored arc-welding wire imported into Mexico soared to X tons, jumping by X% on the previous year's figure. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, cored arc-welding wire imports surged to $X in 2022. In general, total imports indicated a remarkable 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States (X tons), China (X tons) and South Korea (X tons) were the main suppliers of cored arc-welding wire imports to Mexico, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of cored arc-welding wire to Mexico, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average cored arc-welding wire import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, saw a mild descent. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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