Colombia: Plastic Bag Market 2024

Plastic Bag Market Size in Colombia

The Colombian plastic bag market declined modestly to $X in 2022, dropping by -2.2% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Plastic bag consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Plastic Bag Production in Colombia

In value terms, plastic bag production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 16% against the previous year. Plastic bag production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Plastic Bag Exports

Exports from Colombia

After two years of growth, shipments abroad of plastic sacks and bags decreased by -0.5% to X tons in 2022. The total export volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2018 when exports increased by 13%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, plastic bag exports contracted to $X in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

Ecuador (X tons), the United States (X tons) and Costa Rica (X tons) were the main destinations of plastic bag exports from Colombia, with a combined 59% share of total exports. Venezuela, Mexico, Panama, Brazil, Peru, Chile, Thailand, El Salvador, Canada and Honduras lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +211.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), the United States ($X) and Costa Rica ($X) appeared to be the largest markets for plastic bag exported from Colombia worldwide, with a combined 61% share of total exports. Brazil, Mexico, Panama, Chile, Peru, Canada, Venezuela, Thailand, El Salvador and Honduras lagged somewhat behind, together comprising a further 32%.

Thailand, with a CAGR of +202.0%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the average plastic bag export price amounted to $X per ton, which is down by -8.1% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 19%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Venezuela ($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 Panama (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into Colombia

Plastic bag imports into Colombia expanded remarkably to X tons in 2022, with an increase of 11% compared with 2021. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2017 with an increase of 16% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, plastic bag imports fell slightly to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 16%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Free Zones (X tons) and Brazil (X tons) were the main suppliers of plastic bag imports to Colombia, together comprising 71% of total imports. Mexico, the United States, Spain, India, Venezuela, Costa Rica and Ecuador lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +124.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Brazil ($X) and Free Zones ($X) were the largest plastic bag suppliers to Colombia, together comprising 59% of total imports. Mexico, the United States, India, Spain, Venezuela, Costa Rica and Ecuador lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, India, with a CAGR of +132.4%, saw 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 2022, the average plastic bag import price amounted to $X per ton, shrinking by -10.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 22%. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

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 Ecuador ($X per ton), while the price for Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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