Ecuador: Plastic Container Market 2024

Plastic Container Market Size in Ecuador

In 2021, the Ecuadorian plastic container market increased by 12% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Plastic Container Exports

Exports from Ecuador

In 2021, approx. X tons of plastic containers were exported from Ecuador; rising by 24% compared with 2020. Over the period under review, exports enjoyed a strong expansion. The growth pace was the most rapid in 2019 with an increase of 340%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic container exports soared to $X in 2021. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 252%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Peru (X tons) was the main destination for plastic container exports from Ecuador, with a 70% share of total exports. Moreover, plastic container exports to Peru exceeded the volume sent to the second major destination, Colombia (X tons), fivefold. The third position in this ranking was held by Guatemala (X tons), with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume to Peru stood at +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+1.1% per year) and Guatemala (+153.3% per year).

In value terms, Peru ($X) remains the key foreign market for plastic containers exports from Ecuador, comprising 70% of total exports. The second position in the ranking was taken by Colombia ($X), with a 13% share of total exports. It was followed by the United States, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru totaled +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+0.9% per year) and the United States (+22.3% per year).

Export Prices by Country

In 2021, the average plastic container export price amounted to $X per ton, surging by 3.4% against the previous year. In general, the export price, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2013 when the average export price increased by 36% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala ($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 El Salvador (+9.9%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Container Imports

Imports into Ecuador

In 2021, overseas purchases of plastic containers increased by 27% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 43% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, plastic container imports rose modestly to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 74% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest plastic container supplier to Ecuador, with a 48% share of total imports. Moreover, plastic container imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Colombia (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.8% per year) and Colombia (+15.5% per year).

In value terms, Colombia ($X), China ($X) and the United States ($X) constituted the largest plastic container suppliers to Ecuador, with a combined 67% share of total imports. These countries were followed by Chile, Peru and Spain, which together accounted for a further 20%.

In terms of the main suppliers, Peru, with a CAGR of +15.4%, recorded 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

The average plastic container import price stood at $X per ton in 2021, waning by -18.1% against the previous year. In general, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plastic container import price decreased by -34.9% against 2019 indices. The growth pace was the most rapid in 2018 when the average import price increased by 47%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, 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 Colombia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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