Cuba: Plastic Support Market 2024

Plastic Support Market Size in Cuba

The Cuban plastic support market declined to $X in 2021, shrinking by -8.9% against the previous year. In general, consumption continues to indicate a strong increase. Over the period under review, the market reached the peak level at $X in 2020, and then declined in the following year.

Plastic Support Production in Cuba

In value terms, plastic support production contracted to $X in 2021 estimated in export price. Over the period under review, production posted a resilient expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 33% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then reduced in the following year.

Plastic Support Exports

Exports from Cuba

In 2021, overseas shipments of spools, cops and similar supports of plastics increased by 61% to X tons for the first time since 2015, thus ending a five-year declining trend. In general, exports, however, continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 285%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic support exports soared to $X in 2021. Over the period under review, exports, however, recorded a significant curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 296% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Philippines (X tons) was the main destination for plastic support exports from Cuba, with a 87% share of total exports. Moreover, plastic support exports to the Philippines exceeded the volume sent to the second major destination, Germany (X kg), ninefold. Spain (X kg) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines amounted to -35.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+29.5% per year) and Spain (+33.2% per year).

In value terms, the Philippines ($X), Germany ($X) and Italy ($X) appeared to be the largest markets for plastic support exported from Cuba worldwide, together comprising 97% of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +34.2%, saw 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

In 2021, the average plastic support export price amounted to $X per ton, shrinking by -21.1% against the previous year. Overall, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plastic support export price increased by +29.4% against 2013 indices. The growth pace was the most rapid in 2020 when the average export price increased by 50% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced dramatically in the following year.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+14.2%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Support Imports

Imports into Cuba

In 2021, approx. X tons of spools, cops and similar supports of plastics were imported into Cuba; picking up by 1.9% on 2020. Overall, imports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2015 with an increase of 70% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, plastic support imports reached $X in 2021. In general, imports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2015 with an increase of 37%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of plastic support to Cuba, accounting for a 52% share of total imports. Moreover, plastic support imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Hungary (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at -12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-12.9% per year) and Hungary (+3.0% per year).

In value terms, Spain ($X) constituted the largest supplier of plastic support to Cuba, comprising 48% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by Austria, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled -10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.3% per year) and Austria (-6.2% per year).

Import Prices by Country

In 2021, the average plastic support import price amounted to $X per ton, approximately reflecting the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 30% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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