Latin America and the Caribbean: Lamp Plastic Parts Market 2024

Lamp Plastic Parts Market Size in Latin America and the Caribbean

The Latin American lamp plastic parts market reduced slightly to $X in 2021, with a decrease of -3.5% against the previous year. Over the period under review, consumption recorded a abrupt descent. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Lamp Plastic Parts Production in Latin America and the Caribbean

In value terms, lamp plastic parts production rose slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt decrease. The pace of growth appeared the most rapid in 2019 when the production volume increased by 41% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Lamp Plastic Parts Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of plastic parts for lamps and lighting fittings increased by 270% to X tons, rising for the second year in a row after seven years of decline. In general, exports, however, showed a slight curtailment. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, lamp plastic parts exports stood at $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 16%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Mexico (X tons) represented the key exporter of plastic parts for lamps and lighting fittings in Latin America and the Caribbean, committing 99% of total export.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of plastic parts for lamps and lighting fittings. From 2012 to 2021, the share of Mexico increased by +6.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) also remains the largest lamp plastic parts supplier in Latin America and the Caribbean.

In Mexico, lamp plastic parts exports increased at an average annual rate of +2.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -71.7% against the previous year. In general, the export price, however, recorded a modest expansion. The pace of growth appeared the most rapid in 2016 an increase of 95%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Mexico.

From 2012 to 2021, the rate of growth in terms of prices for Mexico amounted to +2.9% per year.

Lamp Plastic Parts Imports

Imports in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in overseas purchases of plastic parts for lamps and lighting fittings, when their volume increased by 17% to X tons. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 34% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, lamp plastic parts imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 36% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Mexico dominates imports structure, recording X tons, which was approx. 82% of total imports in 2021. It was distantly followed by Brazil (X tons), committing a 6.5% share of total imports. Argentina (X tons) took a little share of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of plastic parts for lamps and lighting fittings. At the same time, Brazil (+4.9%) and Argentina (+4.2%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +4.9% from 2012-2021. From 2012 to 2021, the share of Mexico and Brazil increased by +11 and +2.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported plastic parts for lamps and lighting fittings in Latin America and the Caribbean, comprising 80% of total imports. The second position in the ranking was taken by Brazil ($X), with an 8.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Mexico totaled +3.8%. In the other countries, the average annual rates were as follows: Brazil (+6.4% per year) and Argentina (+5.5% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 4.7% against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2013 when the import price increased by 14%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was Brazil ($X per ton), while Argentina ($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 (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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