Mexico: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Mexico

In 2021, the Mexican expansible polystyrene market increased by 9.8% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a perceptible contraction. Expansible polystyrene consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Expansible Polystyrene Production in Mexico

In value terms, expansible polystyrene production expanded to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable contraction. The growth pace was the most rapid in 2017 when the production volume increased by 27%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Expansible Polystyrene Exports

Exports from Mexico

In 2021, overseas shipments of expansible polystyrene in primary forms decreased by -29.4% to X tons, falling for the second consecutive year after three years of growth. In general, exports recorded a noticeable downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 20% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, expansible polystyrene exports soared to $X in 2021. Overall, exports recorded a slight descent. The growth pace was the most rapid in 2018 when exports increased by 33% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for expansible polystyrene exports from Mexico, accounting for a 96% share of total exports. Moreover, expansible polystyrene exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +5.9%.

In value terms, the United States ($X) remains the key foreign market for expansible polystyrene in primary forms exports from Mexico, comprising 98% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +6.7%.

Export Prices by Country

In 2021, the average expansible polystyrene export price amounted to $X per ton, with an increase of 67% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Expansible Polystyrene Imports

Imports into Mexico

In 2021, after two years of decline, there was significant growth in overseas purchases of expansible polystyrene in primary forms, when their volume increased by 31% to X tons. The total import volume increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, expansible polystyrene imports soared to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of expansible polystyrene to Mexico, with a 80% share of total imports. Moreover, expansible polystyrene imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+9.9% per year) and South Korea (-2.3% per year).

In value terms, the United States ($X) constituted the largest supplier of expansible polystyrene in primary forms to Mexico, comprising 79% of total imports. The second position in the ranking was taken by Canada ($X), with a 19% share of total imports. It was followed by South Korea, with a 0.8% share.

From 2012 to 2021, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+10.6% per year) and South Korea (-3.5% per year).

Import Prices by Country

In 2021, the average expansible polystyrene import price amounted to $X per ton, surging by 3.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 7.6% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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