Latin America and the Caribbean: Plastic Container Market 2024

Plastic Container Market Size in Latin America and the Caribbean

In 2021, the Latin American plastic container market decreased by -2.4% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the market value increased by 6.2%. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Plastic Container Production in Latin America and the Caribbean

In value terms, plastic container production reached $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 8% against the previous year. The level of production peaked at $X in 2015; afterwards, it flattened through to 2021.

Plastic Container Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of plastic containers increased by 106% to X tons, rising for the second year in a row after two years of decline. In general, exports saw prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic container exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 31% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico prevails in exports structure, accounting for X tons, which was near 87% of total exports in 2021. The following exporters - the Dominican Republic (X tons), El Salvador (X tons), Guatemala (X tons) and Brazil (X tons) - each amounted to an 8.1% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to plastic container exports from Mexico stood at +11.7%. At the same time, El Salvador (+16.2%), Guatemala (+12.9%) and the Dominican Republic (+3.9%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +16.2% from 2012-2021. By contrast, Brazil (-3.3%) illustrated a downward trend over the same period. Mexico (+14 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -3.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest plastic container supplier in Latin America and the Caribbean, comprising 75% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a 5.6% share of total exports. It was followed by Brazil, with a 4% share.

From 2012 to 2021, the average annual growth rate of value in Mexico stood at +7.9%. In the other countries, the average annual rates were as follows: the Dominican Republic (+5.6% per year) and Brazil (-6.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, declining by -41.8% against the previous year. Overall, the export price continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2016 when the export price increased by 54%. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Plastic Container Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of plastic containers increased by 83% to X tons, rising for the fifth year in a row after two years of decline. Overall, imports posted tangible growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic container imports expanded notably to $X in 2021. The total import value increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico dominates imports structure, resulting at X tons, which was approx. 75% of total imports in 2021. It was distantly followed by Chile (X tons), mixing up a 5.1% share of total imports. Brazil (X tons) and Guatemala (X tons) took a minor share of total imports.

Imports into Mexico increased at an average annual rate of +4.1% from 2012 to 2021. At the same time, Chile (+18.9%), Guatemala (+16.1%) and Brazil (+1.9%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +18.9% from 2012-2021. From 2012 to 2021, the share of Chile increased by +3.5 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported plastic containers in Latin America and the Caribbean, comprising 61% of total imports. The second position in the ranking was taken by Brazil ($X), with a 6.3% share of total imports. It was followed by Chile, with a 4.7% share.

In Mexico, plastic container imports increased at an average annual rate of +6.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+2.0% per year) and Chile (+6.9% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, shrinking by -39.2% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by 238%. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Brazil ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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