Latin America and the Caribbean: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Latin America and the Caribbean

In 2021, the Latin American polyethylene in primary forms market increased by 31% to $X, rising for the second consecutive year after three years of decline. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Polyethylene in Primary Forms in Latin America and the Caribbean

In value terms, polyethylene in primary forms production fell slightly to $X in 2021 estimated in export price. Overall, production saw a noticeable contraction. The pace of growth appeared the most rapid in 2015 when the production volume increased by 17%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Polyethylene in Primary Forms

Exports in Latin America and the Caribbean

In 2021, shipments abroad of polyethylene in primary forms decreased by -31.5% to X tons, falling for the fourth year in a row after three years of growth. Overall, exports showed a pronounced slump. The pace of growth was the most pronounced in 2016 with an increase of 24%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, polyethylene in primary forms exports expanded markedly to $X in 2021. In general, exports continue to indicate a pronounced slump. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil represented the key exporting country with an export of about X tons, which reached 66% of total exports. It was distantly followed by Mexico (X tons), committing a 27% share of total exports. Argentina (X tons) held a minor share of total exports.

Exports from Brazil decreased at an average annual rate of -4.8% from 2012 to 2021. At the same time, Mexico (+8.4%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +8.4% from 2012-2021. By contrast, Argentina (-16.6%) illustrated a downward trend over the same period. Mexico (+18 p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Brazil saw its share reduced by -8.4% and -10.1% from 2012 to 2021, respectively.

In value terms, Brazil ($X) remains the largest polyethylene in primary forms supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was held by Mexico ($X), with a 29% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil amounted to -4.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+10.6% per year) and Argentina (-17.5% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 67% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2014; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Argentina ($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 (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polyethylene in Primary Forms

Imports in Latin America and the Caribbean

In 2021, the amount of polyethylene in primary forms imported in Latin America and the Caribbean soared to X tons, rising by 27% against the previous year. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene in primary forms imports soared to $X in 2021. Total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, 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.

Imports by Country

In 2021, Mexico (X tons), distantly followed by Brazil (X tons), Colombia (X tons), Chile (X tons), Peru (X tons) and Argentina (X tons) represented the main importers of polyethylene in primary forms, together mixing up 81% of total imports. Guatemala (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +6.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2021, together comprising 59% of total imports. These countries were followed by Peru, Colombia, Argentina and Guatemala, which together accounted for a further 25%.

Guatemala, with a CAGR of +8.8%, recorded the highest rates of growth with regard to 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 2021, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 43% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Guatemala ($X per ton) and Argentina ($X per ton), while Colombia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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