Guatemala: Plastic Supports Market 2024

Plastic Supports Market Size in Guatemala

The Guatemalan plastic supports market shrank to $X in 2022, with a decrease of -8.5% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Plastic Supports Production in Guatemala

In value terms, plastic supports production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 24% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Plastic Supports Exports

Exports from Guatemala

In 2022, shipments abroad of spools, cops, bobbins and similar supports of plastics increased by 172% to X tons, rising for the third year in a row after three years of decline. Over the period under review, exports posted a moderate increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic supports exports surged to $X in 2022. In general, exports posted modest growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Honduras (X tons), El Salvador (X tons) and Nicaragua (X tons) were the main destinations of plastic supports exports from Guatemala, with a combined 100% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +9.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Honduras ($X) remains the key foreign market for spools, cops, bobbins and similar supports of plastics exports from Guatemala, comprising 66% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 32% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras totaled +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+2.1% per year) and Nicaragua (-17.8% per year).

Export Prices by Country

In 2022, the average plastic supports export price amounted to $X per ton, with an increase of 3.3% against the previous year. Overall, the export price, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 15% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Nicaragua ($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 Nicaragua (-0.2%), while the prices for the other major destinations experienced a decline.

Plastic Supports Imports

Imports into Guatemala

In 2022, the amount of spools, cops, bobbins and similar supports of plastics imported into Guatemala skyrocketed to X tons, growing by 43% against the year before. In general, imports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 94% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, plastic supports imports soared to $X in 2022. Over the period under review, imports showed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest plastic supports supplier to Guatemala, with a 55% share of total imports. Moreover, plastic supports imports from Turkey exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled +35.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+8.1% per year) and the United States (-2.3% per year).

In value terms, Turkey ($X) constituted the largest supplier of spools, cops, bobbins and similar supports of plastics to Guatemala, comprising 51% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by Mexico, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +30.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.6% per year) and Mexico (+11.1% per year).

Import Prices by Country

The average plastic supports import price stood at $X per ton in 2022, with an increase of 66% against the previous year. In general, the import price showed a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform