Latin America and the Caribbean: Market for Plastics Pipes And Pipe Fittings 2024

Market Size for Plastics Pipes And Pipe Fittings in Latin America and the Caribbean

The Latin American market for plastics pipes and pipe fittings fell to $X in 2022, dropping by -5.4% against the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Plastics Pipes And Pipe Fittings in Latin America and the Caribbean

In value terms, plastics pipe and pipe fitting production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the production volume increased by 15%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Plastics Pipes And Pipe Fittings

Exports in Latin America and the Caribbean

In 2022, shipments abroad of plastics pipes and pipe fittings increased by 20% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.4% 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 +66.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 39% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, plastics pipe and pipe fitting exports soared to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.5% 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 +78.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 47% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

In 2022, Mexico (X tons) represented the major exporter of plastics pipes and pipe fittings, making up 49% of total exports. Guatemala (X tons) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by Costa Rica (13%), Chile (5.3%) and the Dominican Republic (5.3%). The following exporters - Brazil (X tons) and Colombia (X tons) - each amounted to a 7.5% share of total exports.

Mexico was also the fastest-growing in terms of the plastics pipes and pipe fittings exports, with a CAGR of +23.3% from 2012 to 2022. At the same time, the Dominican Republic (+6.1%), Costa Rica (+3.0%) and Guatemala (+2.7%) displayed positive paces of growth. Chile and Brazil experienced a relatively flat trend pattern. By contrast, Colombia (-4.4%) illustrated a downward trend over the same period. Mexico (+37 p.p.) significantly strengthened its position in terms of the total exports, while Brazil, Chile, Costa Rica, Guatemala and Colombia saw its share reduced by -3.9%, -4.7%, -5%, -6.1% and -6.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest plastics pipe and pipe fitting supplier in Latin America and the Caribbean, comprising 56% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 10% share of total exports. It was followed by Costa Rica, with an 8.4% share.

In Mexico, plastics pipe and pipe fitting exports increased at an average annual rate of +16.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (+7.9% per year) and Costa Rica (+2.4% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 1.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 12% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the Dominican Republic ($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 (+5.2%), while the other leaders experienced more modest paces of growth.

Imports of Plastics Pipes And Pipe Fittings

Imports in Latin America and the Caribbean

Plastics pipe and pipe fitting imports declined to X tons in 2022, with a decrease of -12.1% against 2021. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 19%. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, plastics pipe and pipe fitting imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 27% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Mexico represented the largest importer of plastics pipes and pipe fittings in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was near 28% of total imports in 2022. Honduras (X tons) took the second position in the ranking, followed by Peru (X tons), El Salvador (X tons), Nicaragua (X tons) and Chile (X tons). All these countries together took near 28% share of total imports. Brazil (X tons), Argentina (X tons), Panama (X tons), the Dominican Republic (X tons), Costa Rica (X tons), Belize (X tons) and Guatemala (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to plastics pipe and pipe fitting imports into Mexico stood at -2.5%. At the same time, Panama (+29.1%), Belize (+7.2%), Chile (+6.3%), El Salvador (+4.9%), the Dominican Republic (+4.0%), Nicaragua (+3.6%), Brazil (+3.2%), Costa Rica (+3.0%), Guatemala (+2.3%) and Argentina (+2.2%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +29.1% from 2012-2022. Peru and Honduras experienced a relatively flat trend pattern. From 2012 to 2022, the share of Panama, Chile and El Salvador increased by +3.1, +2 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported plastics pipes and pipe fittings in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was taken by Brazil ($X), with a 9% share of total imports. It was followed by Chile, with a 5.2% share.

In Mexico, plastics pipe and pipe fitting imports expanded at an average annual rate of +3.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+4.4% per year) and Chile (+5.7% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by 20% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Brazil ($X per ton), while Belize ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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