Latin America and the Caribbean: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Latin America and the Caribbean

The Latin American plastic ornamental articles market shrank to $X in 2022, which is down by -7.3% against the previous year. In general, consumption continues to indicate a slight downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Plastic Ornamental Articles Production in Latin America and the Caribbean

In value terms, plastic ornamental articles production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 18% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Plastic Ornamental Articles Exports

Exports in Latin America and the Caribbean

In 2022, plastic ornamental articles exports in Latin America and the Caribbean surged to X tons, growing by 82% on the previous year. In general, exports enjoyed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic ornamental articles exports surged to $X in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +70.8% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, finishing at X tons, which was approx. 89% of total exports in 2022. The following exporters - Argentina (X tons) and the Dominican Republic (X tons) - each resulted at a 3.5% share of total exports.

Mexico was also the fastest-growing in terms of the statuettes and other ornamental articles of plastic exports, with a CAGR of +18.9% from 2012 to 2022. At the same time, the Dominican Republic (+17.6%) and Argentina (+5.9%) displayed positive paces of growth. From 2012 to 2022, the share of Mexico increased by +58 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest plastic ornamental articles supplier in Latin America and the Caribbean, comprising 84% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 2.2% share of total exports.

In Mexico, plastic ornamental articles exports expanded at an average annual rate of +13.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Dominican Republic (+18.1% per year) and Argentina (-3.3% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -28.8% against the previous year. Overall, the export price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2017 when the export price increased by 21%. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 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 the Dominican Republic ($X per ton), while Argentina ($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 (+0.5%), while the other leaders experienced a decline in the export price figures.

Plastic Ornamental Articles Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of statuettes and other ornamental articles of plastic increased by 5% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, plastic ornamental articles imports stood at $X in 2022. In general, imports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Mexico (X tons), Chile (X tons), Colombia (X tons), Brazil (X tons) and Bolivia (X tons) represented roughly 68% of total imports in 2022. It was distantly followed by Venezuela (X tons), mixing up a 5.6% share of total imports. Peru (X tons), the Dominican Republic (X tons), Argentina (X tons), Costa Rica (X tons), Guatemala (X tons), Ecuador (X tons) and Honduras (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +19.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic ornamental articles importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Brazil ($X), together accounting for 56% of total imports. Colombia, Argentina, the Dominican Republic, Peru, Guatemala, Costa Rica, Ecuador, Venezuela, Bolivia and Honduras lagged somewhat behind, together accounting for a further 35%.

The Dominican Republic, with a CAGR of +14.6%, recorded the highest rates of growth with regard to the value of imports, among 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, dropping by -3.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 13% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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