Costa Rica: Plastic Support Market 2024

Plastic Support Market Size in Costa Rica

After two years of growth, the Costa Rican plastic support market decreased by -1% to $X in 2022. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Support Production in Costa Rica

In value terms, plastic support production rose modestly to $X in 2022 estimated in export price. Overall, production, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 46% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Plastic Support Exports

Exports from Costa Rica

Plastic support exports from Costa Rica dropped to X tons in 2022, waning by -13% on the year before. Overall, exports showed a slight setback. The most prominent rate of growth was recorded in 2021 when exports increased by 35%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, plastic support exports declined notably to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 57% against the previous year. As a result, the exports reached the peak of $X, and then declined sharply in the following year.

Exports by Country

Honduras (X tons), the Dominican Republic (X tons) and El Salvador (X tons) were the main destinations of plastic support exports from Costa Rica, with a combined 47% share of total exports. Jamaica, Trinidad and Tobago, the United States, Panama, Guatemala, Haiti and Nicaragua lagged somewhat behind, together comprising a further 47%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Haiti (with a CAGR of +16.0%), while the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X), the United States ($X) and the Dominican Republic ($X) appeared to be the largest markets for plastic support exported from Costa Rica worldwide, together accounting for 46% of total exports. Jamaica, El Salvador, Trinidad and Tobago, Guatemala, Panama, Haiti and Nicaragua lagged somewhat behind, together accounting for a further 48%.

Haiti, with a CAGR of +15.9%, recorded 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 support export price amounted to $X per ton, reducing by -6% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to the Dominican Republic ($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 Taiwan (Chinese) (+38.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Support Imports

Imports into Costa Rica

In 2022, after two years of growth, there was significant decline in supplies from abroad of spools, cops and similar supports of plastics, when their volume decreased by -17.4% to X tons. Over the period under review, imports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 88% against the previous year. As a result, imports attained the peak of X tons, and then shrank sharply in the following year.

In value terms, plastic support imports shrank to $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 57%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined slightly in the following year.

Imports by Country

Guatemala (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of plastic support imports to Costa Rica, with a combined 55% share of total imports. Colombia, China, Hungary, Italy, El Salvador, Honduras and Canada lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by El Salvador (with a CAGR of +22.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of spools, cops and similar supports of plastics to Costa Rica, comprising 31% of total imports. The second position in the ranking was held by Mexico ($X), with a 15% share of total imports. It was followed by Guatemala, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+6.7% per year) and Guatemala (+8.2% per year).

Import Prices by Country

In 2022, the average plastic support import price amounted to $X per ton, rising by 17% against the previous year. In general, the import price, however, continues to indicate a noticeable reduction. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 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 ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform