Guatemala: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Guatemala

The Guatemalan plastic reservoir market surged to $X in 2022, jumping by 16% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Plastic reservoir consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Plastic Reservoir Production in Guatemala

In value terms, plastic reservoir production rose significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 29% against the previous year. Plastic reservoir production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Plastic Reservoir Exports

Exports from Guatemala

After three years of growth, overseas shipments of plastic reservoirs, tanks and vats decreased by -16.5% to X tons in 2022. Overall, exports, however, showed a modest expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 45% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, plastic reservoir exports contracted to $X in 2022. In general, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +125.7% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 40%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped modestly in the following year.

Exports by Country

El Salvador (X tons), Honduras (X tons) and Costa Rica (X tons) were the main destinations of plastic reservoir exports from Guatemala, together accounting for 98% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by El Salvador (with a CAGR of +3.5%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for plastic reservoir exported from Guatemala were El Salvador ($X), Honduras ($X) and Costa Rica ($X), with a combined 98% share of total exports.

Honduras, with a CAGR of +7.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average plastic reservoir export price amounted to $X per ton, picking up by 19% against the previous year. Overall, the export price enjoyed measured growth. The pace of growth was the most pronounced in 2017 an increase of 72%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Costa Rica ($X per ton) and Nicaragua ($X per ton), while the average price for exports to El Salvador ($X per ton) and Honduras ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Reservoir Imports

Imports into Guatemala

In 2022, plastic reservoir imports into Guatemala surged to X tons, picking up by 46% on 2021. In general, imports continue to indicate a slight increase. The most prominent rate of growth was recorded in 2021 when imports increased by 115% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, plastic reservoir imports soared to $X in 2022. Overall, imports enjoyed a tangible expansion. The pace of growth was the most pronounced in 2021 when imports increased by 67%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Honduras (X tons) and Costa Rica (X tons) were the main suppliers of plastic reservoir imports to Guatemala, together comprising 70% of total imports. The United States, Germany, Mexico, South Korea and El Salvador lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +49.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic reservoir suppliers to Guatemala were the United States ($X), Honduras ($X) and China ($X), with a combined 65% share of total imports.

In terms of the main suppliers, Honduras, with a CAGR of +62.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plastic reservoir import price stood at $X per ton in 2022, with a decrease of -14.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 39% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 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 Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform