Costa Rica: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Costa Rica

After two years of growth, the Costa Rican polypropylene in primary forms market decreased by -9.3% to $X in 2022. Over the period under review, consumption, however, showed a pronounced descent. Polypropylene in primary forms consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Polypropylene in Primary Forms

Exports from Costa Rica

In 2022, the amount of polypropylene in primary forms exported from Costa Rica shrank to X tons, with a decrease of -9.8% compared with 2021 figures. Overall, exports, however, continue to indicate a moderate increase. The pace of growth was the most pronounced in 2018 with an increase of 130% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, polypropylene in primary forms exports reduced to $X in 2022. Over the period under review, exports recorded a slight curtailment. The pace of growth was the most pronounced in 2018 with an increase of 125% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X tons), Ecuador (X tons) and Colombia (X tons) were the main destinations of polypropylene in primary forms exports from Costa Rica, together accounting for 82% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of +36.1%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for polypropylene in primary forms exported from Costa Rica were El Salvador ($X), Colombia ($X) and Ecuador ($X), with a combined 82% share of total exports.

In terms of the main countries of destination, Ecuador, with a CAGR of +35.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polypropylene in primary forms export price stood at $X per ton in 2022, declining by -5.1% against the previous year. Overall, the export price saw a noticeable decrease. The pace of growth appeared the most rapid in 2021 an increase of 14%. The export price peaked 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 Nicaragua ($X per ton), while the average price for exports to Ecuador ($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 Colombia (+16.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polypropylene in Primary Forms

Imports into Costa Rica

In 2022, approx. X tons of polypropylene in primary forms were imported into Costa Rica; picking up by 3% on the year before. In general, imports, however, recorded a pronounced downturn. The pace of growth was the most pronounced in 2016 with an increase of 23% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, polypropylene in primary forms imports contracted to $X in 2022. Over the period under review, imports, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 41%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Colombia (X tons) and Saudi Arabia (X tons) were the main suppliers of polypropylene in primary forms imports to Costa Rica, together accounting for 59% of total imports. China, Germany, Vietnam, South Korea, India and Mexico lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +106.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Colombia ($X) and Saudi Arabia ($X) were the largest polypropylene in primary forms suppliers to Costa Rica, with a combined 54% share of total imports. China, Germany, Vietnam, South Korea, India and Mexico lagged somewhat behind, together comprising a further 37%.

Vietnam, with a CAGR of +59.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polypropylene in primary forms import price stood at $X per ton in 2022, with a decrease of -17.2% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 51%. As a result, import price reached the peak level of $X per ton, and then contracted notably 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 China ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform