Ecuador: Market for Plastic Fittings for Tubes, Pipes and Hoses 2024

Market Size for Plastic Fittings for Tubes, Pipes and Hoses in Ecuador

In 2021, after two years of decline, there was significant growth in the Ecuadorian market for plastic fittings for tubes, pipes and hoses, when its value increased by 53% to $X. Overall, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Exports of Plastic Fittings for Tubes, Pipes and Hoses

Exports from Ecuador

In 2021, shipments abroad of plastic fittings for tubes, pipes and hoses was finally on the rise to reach X tons after two years of decline. In general, exports, however, showed a deep reduction. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, exports of plastic fittings for tubes, pipes and hoses soared to $X in 2021. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 371% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Chile (X tons) was the main destination for exports of plastic fittings for tubes, pipes and hoses from Ecuador, accounting for a 91% share of total exports. Moreover, exports of plastic fittings for tubes, pipes and hoses to Chile exceeded the volume sent to the second major destination, Panama (X tons), more than tenfold. Singapore (X kg) ranked third in terms of total exports with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile amounted to -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+33.6% per year) and Singapore (+94.8% per year).

In value terms, Chile ($X) emerged as the key foreign market for plastic fittings for tubes, pipes and hoses exports from Ecuador, comprising 87% of total exports. The second position in the ranking was held by Panama ($X), with an 11% share of total exports. It was followed by Singapore, with a 1.2% share.

From 2012 to 2021, the average annual growth rate of value to Chile totaled -7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+22.3% per year) and Singapore (+102.4% per year).

Export Prices by Country

In 2021, the average export price for plastic fittings for tubes, pipes and hoses amounted to $X per ton, declining by -13.8% against the previous year. In general, the export price, however, posted modest growth. The growth pace was the most rapid in 2019 an increase of 111%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Panama ($X per ton), while the average price for exports to Argentina ($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 Peru (+14.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Plastic Fittings for Tubes, Pipes and Hoses

Imports into Ecuador

Imports of plastic fittings for tubes, pipes and hoses into Ecuador skyrocketed to X tons in 2021, growing by 49% compared with the year before. In general, imports saw a modest expansion. The growth pace was the most rapid in 2017 with an increase of 67%. Over the period under review, imports of reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, imports of plastic fittings for tubes, pipes and hoses skyrocketed to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. Over the period under review, imports of hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of plastic fittings for tubes, pipes and hoses to Ecuador, accounting for a 41% share of total imports. Moreover, imports of plastic fittings for tubes, pipes and hoses from China exceeded the figures recorded by the second-largest supplier, Argentina (X tons), twofold. The third position in this ranking was taken by Brazil (X tons), with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+3.5% per year) and Brazil (+7.2% per year).

In value terms, China ($X), Argentina ($X) and the United States ($X) appeared to be the largest plastic fittings for tubes, pipes and hoses suppliers to Ecuador, together comprising 59% of total imports. These countries were followed by Brazil, Italy, Spain, Colombia and Mexico, which together accounted for a further 25%.

Spain, with a CAGR of +5.6%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for plastic fittings for tubes, pipes and hoses amounted to $X per ton, rising by 5.1% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 22% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 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 Mexico ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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