Ecuador: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Ecuador

The Ecuadorian market for polyethylene terephthalate and other polyethylene terephthalate in primary forms expanded rapidly to $X in 2022, surging by 12% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Ecuador

In value terms, production of polyethylene terephthalate and other polyethylene terephthalate in primary forms rose sharply to $X in 2022 estimated in export price. Overall, production continues to indicate buoyant growth. The pace of growth was the most pronounced in 2013 when the production volume increased by 184% against the previous year. Production of peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports from Ecuador

In 2022, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from Ecuador contracted sharply to X tons, with a decrease of -43.9% compared with the previous year. In general, exports recorded a deep slump. The growth pace was the most rapid in 2021 when exports increased by 721% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms dropped sharply to $X in 2022. Over the period under review, exports showed a drastic downturn. The pace of growth was the most pronounced in 2021 when exports increased by 490% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from Ecuador, with a 66% share of total exports. Moreover, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms to the United States exceeded the volume sent to the second major destination, Colombia (X tons), fivefold. China (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-10.8% per year) and China (+3.7% per year).

In value terms, the United States ($X) remains the key foreign market for polyethylene terephthalate and other polyethylene terephthalate in primary forms exports from Ecuador, comprising 71% of total exports. The second position in the ranking was held by Colombia ($X), with a 17% share of total exports. It was followed by the UK, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-8.9% per year) and the UK (-18.9% per year).

Export Prices by Country

In 2022, the average export price for polyethylene terephthalate and other polyethylene terephthalate in primary forms amounted to $X per ton, picking up by 4.2% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 29%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to China ($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 Colombia (+2.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports into Ecuador

After seven years of decline, purchases abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms increased by 55% to X tons in 2022. Overall, imports, however, saw a drastic downturn. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms skyrocketed to $X in 2022. In general, imports, however, showed a sharp descent. Over the period under review, imports of attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and India (X tons) were the main suppliers of imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms to Ecuador, together comprising 80% of total imports. South Korea, Thailand, Indonesia, Mexico and the United States lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +20.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest polyethylene terephthalate and other polyethylene terephthalate in primary forms suppliers to Ecuador were Taiwan (Chinese) ($X), India ($X) and China ($X), with a combined 75% share of total imports. Thailand, South Korea, Indonesia, Mexico and the United States lagged somewhat behind, together comprising a further 18%.

Among the main suppliers, Mexico, with a CAGR of +12.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for polyethylene terephthalate and other polyethylene terephthalate in primary forms stood at $X per ton in 2022, surging by 3% against the previous year. Overall, the import price, however, recorded a abrupt shrinkage. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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