Latin America and the Caribbean: Plastic Support Market 2024

Plastic Support Market Size in Latin America and the Caribbean

The Latin American plastic support market rose to $X in 2022, increasing by 2.8% against the previous year. In general, consumption, however, continues to indicate a noticeable downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Plastic Support Production in Latin America and the Caribbean

In value terms, plastic support production stood at $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced decrease. The growth pace was the most rapid in 2020 with an increase of 12%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Plastic Support Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of spools, cops and similar supports of plastics increased by 9% to X tons, rising for the fifth year in a row after three years of decline. Overall, exports showed a strong increase. The growth pace was the most rapid in 2021 with an increase of 54% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, plastic support exports expanded sharply to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +86.3% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 21% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Mexico dominates exports structure, resulting at X tons, which was approx. 73% of total exports in 2022. Guatemala (X tons) held a 5.6% share (based on physical terms) of total exports, which put it in second place, followed by Brazil (5.5%). Colombia (X tons), Costa Rica (X tons), the Dominican Republic (X tons) and El Salvador (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic support exports from Mexico stood at +6.4%. At the same time, the Dominican Republic (+15.1%), El Salvador (+9.3%), Guatemala (+6.2%) and Brazil (+5.9%) 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 +15.1% from 2012-2022. Costa Rica experienced a relatively flat trend pattern. By contrast, Colombia (-1.0%) illustrated a downward trend over the same period. While the share of Mexico (+9.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Costa Rica (-2.2 p.p.) and Colombia (-2.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest plastic support supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was taken by Brazil ($X), with a 7.8% share of total exports. It was followed by Colombia, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to +9.2%. In the other countries, the average annual rates were as follows: Brazil (+4.3% per year) and Colombia (+1.5% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, standing approx. at the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic support export price decreased by -23.1% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of 28%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Colombia ($X per ton), while Mexico ($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 (+3.3%), while the other leaders experienced more modest paces of growth.

Plastic Support Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of spools, cops and similar supports of plastics increased by 7.9% to X tons, rising for the sixth consecutive year after two years of decline. Overall, imports enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2019 with an increase of 35%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, plastic support imports stood at $X in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 21%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Mexico prevails in imports structure, amounting to X tons, which was near 54% of total imports in 2022. Chile (X tons) ranks second in terms of the total imports with a 5.8% share, followed by Brazil (4.6%). Costa Rica (X tons), Guatemala (X tons), Colombia (X tons), the Dominican Republic (X tons), Argentina (X tons), El Salvador (X tons), Peru (X tons), Honduras (X tons), Jamaica (X tons) and Panama (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic support imports into Mexico stood at +2.6%. At the same time, Panama (+39.8%), Costa Rica (+10.7%), Chile (+10.7%), Jamaica (+9.0%), Guatemala (+7.2%), the Dominican Republic (+4.2%), Peru (+3.2%) and Honduras (+1.6%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +39.8% from 2012-2022. El Salvador and Brazil experienced a relatively flat trend pattern. By contrast, Colombia (-1.3%) and Argentina (-1.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile, Costa Rica and Panama increased by +3.1, +2 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported spools, cops and similar supports of plastics in Latin America and the Caribbean, comprising 47% of total imports. The second position in the ranking was held by Brazil ($X), with a 7.9% share of total imports. It was followed by Chile, with a 6.2% share.

In Mexico, plastic support imports increased at an average annual rate of +4.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+0.2% per year) and Chile (+10.3% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 1.6% against the previous year. Over the period under review, the import price saw a modest increase. The pace of growth appeared the most rapid in 2015 an increase of 75% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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