Brazil Steel Market Shipment Analysis
Brazil Steel Market registered a growth of 11.49% in value shipments in 2022 as compared to 2021 and an increase of 4.95% CAGR in 2022 over a period of 2017. In Steel Market Brazil is becoming less competitive as HHI index in 2022 was 1621 while in 2017 it was 1291. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Brazil has reportedly relied more on imports to meet its growing demand in Steel Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Steel Market in 2022 was 2.53 while in 2017 it was 1.95. China, USA, Japan, Germany and Italy were among the top players of the market in 2022, where China acquired the largest market share of 32.18% with a shipment value of 67.04 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 USA had the largest market share of 27.04% with the shipment value of 37.83 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although USA offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Brazil Steel Market in 2017.
