Guatemala: Polystyrene Market 2024

Polystyrene Market Size in Guatemala

The Guatemalan polystyrene market surged to $X in 2022, jumping by 68% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a strong expansion. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in years to come.

Polystyrene Exports

Exports from Guatemala

In 2022, approx. X tons of polystyrene were exported from Guatemala; surging by 96% on the previous year's figure. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 457%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, polystyrene exports surged to $X in 2022. Over the period under review, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 when exports increased by 456% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for polystyrene exports from Guatemala, with a 71% share of total exports. Moreover, polystyrene exports to Malaysia exceeded the volume sent to the second major destination, El Salvador (X tons), sixfold. Honduras (X tons) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to +242.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+56.6% per year) and Honduras (+36.0% per year).

In value terms, the largest markets for polystyrene exported from Guatemala were Malaysia ($X), Honduras ($X) and El Salvador ($X), together comprising 87% of total exports.

Among the main countries of destination, Malaysia, with a CAGR of +289.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average polystyrene export price amounted to $X per ton, with an increase of 22% against the previous year. In general, the export price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2015 an increase of 38% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Malaysia ($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 Ecuador (+55.0%), while the prices for the other major destinations experienced more modest paces of growth.

Polystyrene Imports

Imports into Guatemala

Polystyrene imports into Guatemala surged to X tons in 2022, growing by 58% compared with 2021 figures. In general, imports recorded buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polystyrene imports soared to $X in 2022. Over the period under review, imports showed a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of 103% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Taiwan (Chinese) (X tons), Mexico (X tons) and the United States (X tons) were the main suppliers of polystyrene imports to Guatemala, together accounting for 72% of total imports. Singapore, South Korea, China and Colombia lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +62.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene suppliers to Guatemala were Taiwan (Chinese) ($X), Mexico ($X) and the United States ($X), with a combined 75% share of total imports. Singapore, South Korea, China and Colombia lagged somewhat behind, together comprising a further 24%.

China, with a CAGR of +56.5%, saw the highest rates of growth with regard to the value of imports, in terms of 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 polystyrene import price amounted to $X per ton, surging by 9% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polystyrene import price increased by +63.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 50%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform