Guatemala: Polyethylene Binder Market 2024

Polyethylene Binder Market Size in Guatemala

The Guatemalan polyethylene binder market skyrocketed to $X in 2022, jumping by 31% against the previous year. In general, consumption recorded a relatively flat trend pattern. Polyethylene binder consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Polyethylene Binder Production in Guatemala

In value terms, polyethylene binder production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild decline. The pace of growth was the most pronounced in 2020 when the production volume increased by 14% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Polyethylene Binder Exports

Exports from Guatemala

In 2022, shipments abroad of polyethylene or polypropylene binder or baler (agricultural) twines decreased by -30.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2021 with an increase of 53%. As a result, the exports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, polyethylene binder exports shrank dramatically to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 90%. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

El Salvador (X tons), Honduras (X tons) and the Dominican Republic (X tons) were the main destinations of polyethylene binder exports from Guatemala, together accounting for 79% of total exports. Nicaragua, Costa Rica, Panama and Mexico lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of +99.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X) remains the key foreign market for polyethylene or polypropylene binder or baler (agricultural) twines exports from Guatemala, comprising 51% of total exports. The second position in the ranking was taken by Honduras ($X), with a 22% share of total exports. It was followed by the Dominican Republic, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador stood at +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+3.8% per year) and the Dominican Republic (+7.1% per year).

Export Prices by Country

The average polyethylene binder export price stood at $X per ton in 2022, surging by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 24%. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Honduras ($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 Panama (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Binder Imports

Imports into Guatemala

In 2022, approx. X tons of polyethylene or polypropylene binder or baler (agricultural) twines were imported into Guatemala; jumping by 118% compared with the previous year. Over the period under review, imports enjoyed strong growth. The growth pace was the most rapid in 2018 when imports increased by 1,966% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, polyethylene binder imports skyrocketed to $X in 2022. In general, imports recorded a resilient expansion. The pace of growth was the most pronounced in 2018 when imports increased by 628% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Mexico (X tons) and Hong Kong SAR (X tons) were the main suppliers of polyethylene binder imports to Guatemala, with a combined 96% share of total imports.

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 +43.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of polyethylene or polypropylene binder or baler (agricultural) twines to Guatemala, comprising 50% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+40.7% per year) and Mexico (+45.5% per year).

Import Prices by Country

In 2022, the average polyethylene binder import price amounted to $X per ton, jumping by 38% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 216% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform