Mexico Steel Market Shipment Analysis
Mexico Steel Market registered a growth of 19.52% in value shipments in 2022 as compared to 2021 and an increase of 2.06% CAGR in 2022 over a period of 2017. In Steel Market Mexico is becoming more competitive as the HHI index in 2022 was 2351 while in 2017 it was 2479. 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.
Mexico has reportedly relied more on imports to meet its growing demand in Steel Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Steel Market in 2022 was 2.35 while in 2017 it was 2.59. USA, Other Asia, nes, China, Japan and Germany were among the top players of the market in 2022, where USA acquired the largest market share of 37.93% with a shipment value of 255.83 million USD in 2022 USA 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 42.74% with the shipment value of 213.41 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 Mexico Steel Market in 2017.
