Ecuador: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Ecuador

In 2021, the Ecuadorian polyethylene in primary forms market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Polyethylene in Primary Forms

Exports from Ecuador

In 2021, overseas shipments of polyethylene in primary forms increased by 84% to X tons, rising for the third consecutive year after two years of decline. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 188% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, polyethylene in primary forms exports soared to $X in 2021. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 196%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

Peru (X tons), Guatemala (X tons) and Colombia (X tons) were the main destinations of polyethylene in primary forms exports from Ecuador, together comprising 88% of total exports. The Dominican Republic, Mexico, Chile and Argentina lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +137.9%), while the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), Peru ($X) and Colombia ($X) appeared to be the largest markets for polyethylene in primary forms exported from Ecuador worldwide, with a combined 85% share of total exports. These countries were followed by the Dominican Republic, Argentina, Chile and Mexico, which together accounted for a further 14%.

Mexico, with a CAGR of +92.0%, recorded the highest growth rate of 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 2021, the average polyethylene in primary forms export price amounted to $X per ton, picking up by 57% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, 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 Argentina ($X per ton), while the average price for exports to Mexico ($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 the Dominican Republic (+33.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene in Primary Forms

Imports into Ecuador

Polyethylene in primary forms imports into Ecuador expanded rapidly to X tons in 2021, picking up by 6% against the year before. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 22% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, polyethylene in primary forms imports surged to $X in 2021. Overall, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of polyethylene in primary forms to Ecuador, with a 47% share of total imports. Moreover, polyethylene in primary forms imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-6.4% per year) and South Korea (+2.0% per year).

In value terms, the United States ($X) constituted the largest supplier of polyethylene in primary forms to Ecuador, comprising 45% of total imports. The second position in the ranking was taken by Brazil ($X), with a 15% share of total imports. It was followed by South Korea, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-4.9% per year) and South Korea (+3.4% per year).

Import Prices by Country

The average polyethylene in primary forms import price stood at $X per ton in 2021, jumping by 69% against the previous year. Overall, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Mexico ($X per ton) and Saudi Arabia ($X per ton), while the price for the United States ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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