Ecuador: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Ecuador

The Ecuadorian market for polyethylene with a specific gravity of less than X, in primary forms soared to $X in 2021, increasing by 41% against the previous year. Overall, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +9.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.4% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Ecuador

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms reduced to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 1% against the previous year. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Ecuador

In 2021, shipments abroad of polyethylene with a specific gravity of less than X, in primary forms increased by 6.4% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 386% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms rose notably to $X in 2021. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 309%. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

Peru (X tons) was the main destination for exports of polyethylene with a specific gravity of less than X, in primary forms from Ecuador, accounting for a 55% share of total exports. Moreover, exports of polyethylene with a specific gravity of less than X, in primary forms to Peru exceeded the volume sent to the second major destination, Chile (X tons), fourfold. Sudan (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Peru amounted to +197.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+64.6% per year) and Sudan (+50.6% per year).

In value terms, Peru ($X) remains the key foreign market for polyethylene with a specific gravity of less than X, in primary forms exports from Ecuador, comprising 44% of total exports. The second position in the ranking was taken by Chile ($X), with a 20% share of total exports. It was followed by Argentina, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru amounted to +117.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+53.3% per year) and Argentina (0.0% per year).

Export Prices by Country

The average export price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, increasing by 7.1% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 an increase of 25% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Sudan ($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 (-2.5%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Ecuador

In 2021, the amount of polyethylene with a specific gravity of less than X, in primary forms imported into Ecuador rose significantly to X tons, with an increase of 12% on the previous year. The total import volume increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 14% against the previous year. Over the period under review, imports of attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms skyrocketed to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +101.0% against 2019 indices. 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 polyethylene with a specific gravity of less than X supplier to Ecuador, accounting for a 49% share of total imports. Moreover, imports of polyethylene with a specific gravity of less than X, in primary forms from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. Mexico (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-3.9% per year) and Mexico (+25.9% per year).

In value terms, the United States ($X) constituted the largest supplier of polyethylene with a specific gravity of less than X, in primary forms to Ecuador, comprising 47% of total imports. The second position in the ranking was held by Brazil ($X), with a 19% share of total imports. It was followed by Mexico, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-1.8% per year) and Mexico (+28.0% per year).

Import Prices by Country

In 2021, the average import price for polyethylene with a specific gravity of less than X, in primary forms amounted to $X per ton, rising by 67% against the previous year. In general, import price indicated a mild increase 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. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Mexico ($X per ton) and India ($X per ton), while the price for the United States ($X per ton) and South Korea ($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 (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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