Ecuador: Plastic Bag Market 2024

Plastic Bag Market Size in Ecuador

The Ecuadorian plastic bag market was estimated at $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Plastic Bag Production in Ecuador

In value terms, plastic bag production rose modestly to $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +9.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.5% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 127% against the previous year. Plastic bag production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Plastic Bag Exports

Exports from Ecuador

In 2022, approx. X tons of plastic sacks and bags were exported from Ecuador; with a decrease of -16.6% against the previous year's figure. Overall, total exports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.0% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. As a result, the exports reached the peak of X tons, and then contracted remarkably in the following year.

In value terms, plastic bag exports shrank significantly to $X in 2022. Over the period under review, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 62% against the previous year. As a result, the exports attained the peak of $X, and then contracted markedly in the following year.

Exports by Country

The United States (X tons) was the main destination for plastic bag exports from Ecuador, with a 87% share of total exports. Moreover, plastic bag exports to the United States exceeded the volume sent to the second major destination, Peru (X tons), more than tenfold. Panama (X tons) ranked third in terms of total exports with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-2.8% per year) and Panama (+8.9% per year).

In value terms, the United States ($X) remains the key foreign market for plastic sacks and bags exports from Ecuador, comprising 79% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 4.3% share of total exports. It was followed by Brazil, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-4.0% per year) and Brazil (+52.8% per year).

Export Prices by Country

In 2022, the average plastic bag export price amounted to $X per ton, reducing by -3.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2017 when the average export price increased by 13%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then dropped modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to the United States ($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 Brazil (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into Ecuador

In 2022, the amount of plastic sacks and bags imported into Ecuador shrank to X tons, reducing by -8.4% on the year before. Over the period under review, imports showed a slight shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 26%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plastic bag imports fell to $X in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Colombia (X tons), China (X tons) and Peru (X tons) were the main suppliers of plastic bag imports to Ecuador, together accounting for 83% of total imports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +17.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X) constituted the largest supplier of plastic sacks and bags to Ecuador, comprising 47% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Peru, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from Colombia stood at +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.5% per year) and Peru (+17.7% per year).

Import Prices by Country

The average plastic bag import price stood at $X per ton in 2022, reducing by -1.6% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic bag import price increased by +2.4% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the average import price increased by 59% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 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 South Korea ($X per ton), while the price for Peru ($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 (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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