Guatemala: Plastic Support Market 2024

Plastic Support Market Size in Guatemala

The Guatemalan plastic support market stood at $X in 2022, with an increase of 2% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Support Production in Guatemala

In value terms, plastic support production rose to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 12% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Plastic Support Exports

Exports from Guatemala

In 2022, overseas shipments of spools, cops and similar supports of plastics increased by 17% to X tons, rising for the second consecutive year after two years of decline. In general, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% 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 +35.0% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic support exports skyrocketed to $X in 2022. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +56.9% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

El Salvador (X tons), Nicaragua (X tons) and Honduras (X tons) were the main destinations of plastic support exports from Guatemala, with a combined 58% share of total exports. Costa Rica, Peru, Panama, Jamaica, the United States, Mexico and the Dominican Republic lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +41.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic support exported from Guatemala were El Salvador ($X), Nicaragua ($X) and Honduras ($X), together accounting for 57% of total exports. Costa Rica, Peru, Panama, Jamaica, the United States, Mexico and the Dominican Republic lagged somewhat behind, together comprising a further 38%.

Peru, with a CAGR of +44.0%, 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 more modest paces of growth.

Export Prices by Country

The average plastic support export price stood at $X per ton in 2022, rising by 11% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Dominican Republic ($X per ton) and Panama ($X per ton), while the average price for exports to the United States ($X per ton) and Nicaragua ($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 the Dominican Republic (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Support Imports

Imports into Guatemala

In 2022, plastic support imports into Guatemala surged to X tons, growing by 19% compared with the previous year. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.2% 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 +100.0% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic support imports surged to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value 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 +61.9% against 2015 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 26%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons) constituted the largest supplier of plastic support to Guatemala, accounting for a 41% share of total imports. Moreover, plastic support imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by El Salvador (X tons), with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume from Mexico amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.6% per year) and El Salvador (+13.9% per year).

In value terms, Mexico ($X) constituted the largest supplier of spools, cops and similar supports of plastics to Guatemala, comprising 34% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by El Salvador, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico totaled +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.9% per year) and El Salvador (+13.4% per year).

Import Prices by Country

The average plastic support import price stood at $X per ton in 2022, standing approx. at the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 11% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform