Costa Rica: Polyethylene Binder Market 2025

Polyethylene Binder Market Size in Costa Rica

The Costa Rican polyethylene binder market expanded rapidly to $X in 2022, growing by 14% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Polyethylene Binder Production in Costa Rica

In value terms, polyethylene binder production skyrocketed to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2020 when the production volume increased by 96% against the previous year. Polyethylene binder production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Polyethylene Binder Exports

Exports from Costa Rica

In 2022, shipments abroad of polyethylene or polypropylene binder or baler (agricultural) twines was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, total exports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -10.2% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 40%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, polyethylene binder exports dropped to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 50% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for polyethylene binder exports from Costa Rica, with a 52% share of total exports. Moreover, polyethylene binder exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), threefold. The third position in this ranking was held by Panama (X tons), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+5.3% per year) and Panama (+11.1% per year).

In value terms, the United States ($X) remains the key foreign market for polyethylene or polypropylene binder or baler (agricultural) twines exports from Costa Rica, comprising 46% of total exports. The second position in the ranking was taken by Mexico ($X), with a 21% share of total exports. It was followed by Panama, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+6.2% per year) and Panama (+12.3% per year).

Export Prices by Country

The average polyethylene binder export price stood at $X per ton in 2022, shrinking by -16.7% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 45% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell significantly in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Uruguay ($X per ton) and Panama ($X per ton), while the average price for exports to Nicaragua ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Binder Imports

Imports into Costa Rica

In 2022, after two years of decline, there was growth in supplies from abroad of polyethylene or polypropylene binder or baler (agricultural) twines, when their volume increased by 4% to X tons. Overall, imports posted a remarkable increase. The pace of growth was the most pronounced in 2016 when imports increased by 289%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, polyethylene binder imports expanded to $X in 2022. Over the period under review, imports continue to indicate resilient growth. The growth pace was the most rapid in 2016 with an increase of 212% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest polyethylene binder supplier to Costa Rica, accounting for a 0.4% share of total imports. Moreover, polyethylene binder imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X kg), tenfold. Spain (X kg) ranked third in terms of total imports with less than 0.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+26.4% per year) and Spain (+87.7% per year).

In value terms, China ($X) constituted the largest supplier of polyethylene or polypropylene binder or baler (agricultural) twines to Costa Rica, comprising 0.8% of total imports. The second position in the ranking was held by Mexico ($X), with a 0.1% share of total imports. It was followed by Spain, with less than 0.1% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+24.3% per year) and Spain (+59.3% per year).

Import Prices by Country

The average polyethylene binder import price stood at $X per ton in 2022, almost unchanged from the previous year. In general, the import price saw a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of 6.8%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+30.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform