Latin America and the Caribbean: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Latin America and the Caribbean

In 2022, the Latin American plastic reservoir market decreased by -0.1% to $X, falling for the second year in a row after three years of growth. In general, consumption, however, saw a mild slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Plastic Reservoir Production in Latin America and the Caribbean

In value terms, plastic reservoir production stood at $X in 2022 estimated in export price. In general, production, however, recorded a mild shrinkage. The growth pace was the most rapid in 2019 with an increase of 22% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Plastic Reservoir Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of plastic reservoirs, tanks and vats increased by 35% to X tons, rising for the fourth year in a row after three years of decline. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% 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 +90.5% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic reservoir exports skyrocketed to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +82.4% against 2016 indices. The growth pace was the most rapid in 2015 when exports increased by 37% 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

In 2022, Brazil (X tons) represented the major exporter of plastic reservoirs, tanks and vats, mixing up 47% of total exports. It was distantly followed by Guatemala (X tons), Trinidad and Tobago (X tons), Mexico (X tons) and the Dominican Republic (X tons), together mixing up a 43% share of total exports. The following exporters - Costa Rica (X tons) and Nicaragua (X tons) - together made up 6.2% of total exports.

Exports from Brazil increased at an average annual rate of +11.8% from 2012 to 2022. At the same time, the Dominican Republic (+26.2%), Nicaragua (+25.4%), Mexico (+3.1%), Trinidad and Tobago (+2.4%) and Guatemala (+1.4%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +26.2% from 2012-2022. By contrast, Costa Rica (-1.5%) illustrated a downward trend over the same period. While the share of Brazil (+21 p.p.), the Dominican Republic (+5.5 p.p.) and Nicaragua (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (-1.8 p.p.), Trinidad and Tobago (-3.2 p.p.), Costa Rica (-4 p.p.) and Guatemala (-8.6 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) remains the largest plastic reservoir supplier in Latin America and the Caribbean, comprising 42% of total exports. The second position in the ranking was held by Guatemala ($X), with a 20% share of total exports. It was followed by Trinidad and Tobago, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at +10.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (+5.2% per year) and Trinidad and Tobago (+3.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, approximately equating the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 47% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Costa Rica ($X per ton) and the Dominican Republic ($X per ton), while Mexico ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+6.0%), while the other leaders experienced more modest paces of growth.

Plastic Reservoir Imports

Imports in Latin America and the Caribbean

Plastic reservoir imports rose sharply to X tons in 2022, with an increase of 6.2% compared with 2021. The total import volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, plastic reservoir imports declined to $X in 2022. The total import 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 growth pace was the most rapid in 2021 with an increase of 50% against the previous year. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Chile (X tons), followed by El Salvador (X tons), Mexico (X tons), Paraguay (X tons), Peru (X tons) and Brazil (X tons) were the major importers of plastic reservoirs, tanks and vats, together mixing up 54% of total imports. Barbados (X tons), Panama (X tons), Argentina (X tons), Costa Rica (X tons), Guyana (X tons), Honduras (X tons) and Nicaragua (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Panama (with a CAGR of +48.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic reservoir importing markets in Latin America and the Caribbean were Chile ($X), El Salvador ($X) and Peru ($X), with a combined 39% share of total imports. Brazil, Mexico, Paraguay, Argentina, Panama, Costa Rica, Nicaragua, Honduras, Guyana and Barbados lagged somewhat behind, together comprising a further 34%.

Panama, with a CAGR of +36.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, shrinking by -6.1% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 22%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 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 Brazil ($X per ton), while Barbados ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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