Guatemala: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Guatemala

In 2022, after two years of growth, there was decline in the Guatemalan polypropylene in primary forms market, when its value decreased by -1.2% to $X. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +48.2% against 2018 indices. As a result, consumption reached the peak level of $X, and then fell slightly in the following year.

Exports of Polypropylene in Primary Forms

Exports from Guatemala

In 2022, overseas shipments of polypropylene in primary forms increased by 409% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 530% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, polypropylene in primary forms exports surged to $X in 2022. In general, exports saw significant growth. The growth pace was the most rapid in 2021 with an increase of 698% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

El Salvador (X tons) was the main destination for polypropylene in primary forms exports from Guatemala, with a 70% share of total exports. Moreover, polypropylene in primary forms exports to El Salvador exceeded the volume sent to the second major destination, Mexico (X tons), fourfold. The third position in this ranking was held by Honduras (X tons), with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to El Salvador totaled +72.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+30.8% per year) and Honduras (+32.6% per year).

In value terms, El Salvador ($X) remains the key foreign market for polypropylene in primary forms exports from Guatemala, comprising 69% of total exports. The second position in the ranking was taken by Mexico ($X), with a 20% share of total exports. It was followed by Honduras, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador totaled +85.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+32.5% per year) and Honduras (+32.6% per year).

Export Prices by Country

The average polypropylene in primary forms export price stood at $X per ton in 2022, growing by 12% against the previous year. Overall, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polypropylene in primary forms export price increased by +71.1% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 27%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Mexico ($X per ton) and Costa Rica ($X per ton), while the average price for exports to Honduras ($X per ton) and El Salvador ($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 Chile (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polypropylene in Primary Forms

Imports into Guatemala

For the third year in a row, Guatemala recorded growth in supplies from abroad of polypropylene in primary forms, which increased by 7% to X tons in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.7% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of 28% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, polypropylene in primary forms imports reached $X in 2022. Over the period under review, imports saw strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 91%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Saudi Arabia (X tons) and the United States (X tons) were the main suppliers of polypropylene in primary forms imports to Guatemala, together accounting for 76% of total imports. South Korea, Vietnam, Taiwan (Chinese), Honduras, Ecuador, Colombia, Mexico and Brazil lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +75.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Saudi Arabia ($X) and the United States ($X) were the largest polypropylene in primary forms suppliers to Guatemala, together comprising 76% of total imports. South Korea, Vietnam, Taiwan (Chinese), Colombia, Ecuador, Honduras, Mexico and Brazil lagged somewhat behind, together accounting for a further 20%.

Vietnam, with a CAGR of +89.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average polypropylene in primary forms import price amounted to $X per ton, with an increase of 1.9% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 49%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 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 Colombia ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform