Latin America and the Caribbean: Plastic Packaging Market 2024

Plastic Packaging Market Size in Latin America and the Caribbean

For the third year in a row, the Latin American plastic packaging market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the near future.

Plastic Packaging Production in Latin America and the Caribbean

In value terms, plastic packaging production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plastic Packaging Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of plastic packaging increased by X% to X tons, rising for the fourth year in a row after three years of decline. Total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, plastic packaging exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Mexico prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. El Salvador (X tons) took the second position in the ranking, followed by Uruguay (X tons). All these countries together took approx. X% share of total exports. Guatemala (X tons), Peru (X tons), the Dominican Republic (X tons) and Paraguay (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic packaging exports from Mexico stood at X%. At the same time, El Salvador (X%), Guatemala (X%), the Dominican Republic (X%), Paraguay (X%) and Peru (X%) 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 X% from 2012-2022. Uruguay experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mexico and El Salvador increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest plastic packaging supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by El Salvador ($X), with an X% share of total exports. It was followed by Uruguay, with a X% share.

In Mexico, plastic packaging exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: El Salvador (X% per year) and Uruguay (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, remaining stable against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (X%), while the other leaders experienced more modest paces of growth.

Plastic Packaging Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of plastic packaging increased by X% to X tons, rising for the third year in a row after five years of decline. Total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, plastic packaging imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Mexico dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Brazil (X tons), mixing up a X% share of total imports. The following importers - Chile (X tons), Guatemala (X tons), Nicaragua (X tons), Costa Rica (X tons), Honduras (X tons) and Panama (X tons) - together made up X% of total imports.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Panama (X%), Chile (X%), Nicaragua (X%), Costa Rica (X%), Honduras (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Brazil experienced a relatively flat trend pattern. From 2012 to 2022, the share of Chile increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Chile (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price showed modest growth. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Costa Rica ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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