Latin America and the Caribbean: Polyethylene Binder Market 2025

Polyethylene Binder Market Size in Latin America and the Caribbean

In 2022, the Latin American polyethylene binder market increased by 0.8% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, saw a slight downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Polyethylene Binder Production in Latin America and the Caribbean

In value terms, polyethylene binder production shrank to $X in 2022 estimated in export price. In general, production, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2015 with an increase of 2.3%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Polyethylene Binder Exports

Exports in Latin America and the Caribbean

In 2022, exports of polyethylene or polypropylene binder or baler (agricultural) twines in Latin America and the Caribbean stood at X tons, remaining constant against the previous year's figure. Over the period under review, exports, however, recorded a mild curtailment. The pace of growth was the most pronounced in 2014 with an increase of 15%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, polyethylene binder exports shrank to $X in 2022. In general, exports, however, saw a slight downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 22% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Costa Rica represented the key exporting country with an export of about X tons, which finished at 51% of total exports. It was distantly followed by Guatemala (X tons), Colombia (X tons), Peru (X tons), Paraguay (X tons) and Panama (X tons), together mixing up a 42% share of total exports. Mexico (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to polyethylene binder exports from Costa Rica stood at +1.4%. At the same time, Paraguay (+154.1%) and Panama (+19.0%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +154.1% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Guatemala (-3.5%), Mexico (-9.3%) and Peru (-9.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Costa Rica, Paraguay and Panama increased by +12, +6.3 and +4.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Costa Rica ($X) remains the largest polyethylene binder supplier in Latin America and the Caribbean, comprising 45% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 15% share of total exports. It was followed by Peru, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Costa Rica was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (-0.8% per year) and Peru (-8.6% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, declining by -5.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 29%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a 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 Mexico ($X per ton), while Panama ($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 (+2.8%), while the other leaders experienced more modest paces of growth.

Polyethylene Binder Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of polyethylene or polypropylene binder or baler (agricultural) twines was finally on the rise to reach X tons after two years of decline. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 62%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, polyethylene binder imports rose markedly to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 40%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of polyethylene binder imports in 2022 were Costa Rica (X tons), Mexico (X tons) and Chile (X tons), together reaching 57% of total import. Brazil (X tons) ranks next in terms of the total imports with a 9.8% share, followed by the Dominican Republic (6.7%) and Ecuador (5.7%). El Salvador (X tons), Panama (X tons), Uruguay (X tons), Honduras (X tons) and Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +31.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Costa Rica ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 56% of total imports. Brazil, the Dominican Republic, Ecuador, Panama, El Salvador, Uruguay, Argentina and Honduras lagged somewhat behind, together comprising a further 38%.

In terms of the main importing countries, Panama, with a CAGR of +33.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by 4% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 22%. The level of import peaked at $X per ton in 2014; however, from 2015 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 Panama ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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