Latin America and the Caribbean: Market for Plastic Fittings for Tubes, Pipes and Hoses 2024

Market Size for Plastic Fittings for Tubes, Pipes and Hoses in Latin America and the Caribbean

After two years of decline, the Latin American market for plastic fittings for tubes, pipes and hoses increased by 6.9% to $X in 2021. The market value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is likely to see steady growth in years to come.

Production of Plastic Fittings for Tubes, Pipes and Hoses in Latin America and the Caribbean

In value terms, production of plastic fittings for tubes, pipes and hoses reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2018; afterwards, it flattened through to 2021.

Exports of Plastic Fittings for Tubes, Pipes and Hoses

Exports in Latin America and the Caribbean

After two years of decline, shipments abroad of plastic fittings for tubes, pipes and hoses increased by 15% to X tons in 2021. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of plastic fittings for tubes, pipes and hoses skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Mexico (X tons) was the main exporter of plastic fittings for tubes, pipes and hoses, creating 39% of total exports. Costa Rica (X tons) held a 23% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (16%), Colombia (7%) and Argentina (5.2%). The following exporters - Chile (X tons) and Guatemala (X tons) - together made up 6.7% of total exports.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +14.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the largest plastic fittings for tubes, pipes and hoses supplier in Latin America and the Caribbean, comprising 59% of total exports. The second position in the ranking was taken by Brazil ($X), with a 13% share of total exports. It was followed by Costa Rica, with an 11% share.

In Mexico, exports of plastic fittings for tubes, pipes and hoses increased at an average annual rate of +9.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+3.6% per year) and Costa Rica (+2.9% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 10% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2016 when the export price increased by 15% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Mexico ($X per ton), while Guatemala ($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 (+5.1%), while the other leaders experienced more modest paces of growth.

Imports of Plastic Fittings for Tubes, Pipes and Hoses

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of plastic fittings for tubes, pipes and hoses increased by 42% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of plastic fittings for tubes, pipes and hoses soared to $X in 2021. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the key importing country with an import of about X tons, which recorded 44% of total imports. It was distantly followed by Chile (X tons), Peru (X tons), Brazil (X tons) and the Dominican Republic (X tons), together committing a 23% share of total imports. The following importers - Guatemala (X tons), Panama (X tons), Argentina (X tons), Honduras (X tons), Paraguay (X tons), Costa Rica (X tons), Ecuador (X tons) and El Salvador (X tons) - together made up 20% of total imports.

From 2012 to 2021, average annual rates of growth with regard to plastic fittings for tubes, pipes and hoses imports into Mexico stood at +3.9%. At the same time, the Dominican Republic (+34.9%), Panama (+23.5%), Paraguay (+10.4%), Honduras (+9.8%), Chile (+9.5%), El Salvador (+8.8%), Peru (+7.7%), Guatemala (+6.0%), Argentina (+5.0%), Costa Rica (+4.8%), Brazil (+2.7%) and Ecuador (+1.2%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +34.9% from 2012-2021. While the share of the Dominican Republic (+4.3 p.p.), Chile (+2.6 p.p.) and Panama (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mexico (-4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported plastic fittings for tubes, pipes and hoses in Latin America and the Caribbean, comprising 58% of total imports. The second position in the ranking was held by Brazil ($X), with a 10% share of total imports. It was followed by Chile, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value in Mexico amounted to +3.8%. In the other countries, the average annual rates were as follows: Brazil (+3.3% per year) and Chile (+6.8% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, waning by -11.4% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 12%. Over the period under review, import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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