Latin America and the Caribbean: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in Latin America and the Caribbean

The Latin American ethylene polymer bag market fell modestly to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +3.8% over the period 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 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Ethylene Polymer Bag Production in Latin America and the Caribbean

In value terms, ethylene polymer bag production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period 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 2013 with an increase of 33% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Ethylene Polymer Bag Exports

Exports in Latin America and the Caribbean

Ethylene polymer bag exports reduced to X tons in 2022, waning by -12.6% on the previous year's figure. Total exports indicated a measured increase from 2012 to 2022: its volume 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 +59.6% against 2012 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 16% against the previous year. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, ethylene polymer bag exports stood at $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +37.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Mexico was the key exporter of sacks and bags of polymers of ethylene in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was approx. 46% of total exports in 2022. El Salvador (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (8.6%). Guatemala (X tons), Costa Rica (X tons), Peru (X tons), the Dominican Republic (X tons), Honduras (X tons), Chile (X tons), Ecuador (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ethylene polymer bag exports from Mexico stood at +7.3%. At the same time, Peru (+14.5%), Honduras (+13.3%), Brazil (+6.9%), El Salvador (+3.1%), Costa Rica (+3.0%), Ecuador (+2.9%) and Chile (+2.1%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +14.5% from 2012-2022. Colombia and the Dominican Republic experienced a relatively flat trend pattern. By contrast, Guatemala (-3.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico, Peru, Honduras and Brazil increased by +9.7, +2.3, +1.6 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest ethylene polymer bag supplier in Latin America and the Caribbean, comprising 54% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 10% share of total exports. It was followed by Brazil, with a 9.9% share.

In Mexico, ethylene polymer bag exports expanded at an average annual rate of +7.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: El Salvador (+3.1% per year) and Brazil (+9.5% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+6.2%), while the other leaders experienced more modest paces of growth.

Ethylene Polymer Bag Imports

Imports in Latin America and the Caribbean

Ethylene polymer bag imports dropped modestly to X tons in 2022, which is down by -3.2% against the previous year. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 17%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, ethylene polymer bag imports totaled $X in 2022. The total import value increased at an average annual rate of +4.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 18%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons), distantly followed by Chile (X tons), Nicaragua (X tons), Costa Rica (X tons) and Panama (X tons) were the largest importers of sacks and bags of polymers of ethylene, together constituting 68% of total imports. The following importers - Honduras (X tons), Guatemala (X tons), Peru (X tons), Colombia (X tons), Brazil (X tons), Uruguay (X tons), Ecuador (X tons) and El Salvador (X tons) - together made up 20% of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +36.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported sacks and bags of polymers of ethylene in Latin America and the Caribbean, comprising 43% of total imports. The second position in the ranking was taken by Chile ($X), with an 11% share of total imports. It was followed by Costa Rica, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at +5.6%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+4.3% per year) and Costa Rica (+2.5% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 10% against the previous year. Over the last decade, it increased at an average annual rate of +4.7%. The pace of growth appeared the most rapid in 2013 when the import price increased by 26% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady 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 ($X per ton), while Chile ($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 (+11.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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