Mexico: Plastic Bag Market 2024

Plastic Bag Market Size in Mexico

In 2022, the Mexican plastic bag market increased by 4.5% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, recorded a noticeable shrinkage. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Plastic Bag Production in Mexico

In value terms, plastic bag production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced descent. The growth pace was the most rapid in 2014 when the production volume increased by 17%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Plastic Bag Exports

Exports from Mexico

In 2022, overseas shipments of plastic sacks and bags decreased by -11.4% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.6% 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 +26.6% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 31% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, plastic bag exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +106.2% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for plastic bag exports from Mexico, accounting for a approx. 96% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +7.4%.

In value terms, the United States ($X) also remains the key foreign market for plastic sacks and bags exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +8.4%.

Export Prices by Country

The average plastic bag export price stood at $X per ton in 2022, with an increase of 34% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; afterwards, it flattened through to 2022.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +0.9% per year.

Plastic Bag Imports

Imports into Mexico

Plastic bag imports into Mexico expanded sharply to X tons in 2022, increasing by 6.4% against 2021. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 22% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, plastic bag imports rose significantly to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.5% against 2012 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 21% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of plastic bag to Mexico, accounting for a 65% share of total imports. Moreover, plastic bag imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.8% per year) and South Korea (-3.7% per year).

In value terms, the United States ($X) constituted the largest supplier of plastic sacks and bags to Mexico, comprising 59% of total imports. The second position in the ranking was taken by China ($X), with a 19% share of total imports. It was followed by South Korea, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.6% per year) and South Korea (+5.3% per year).

Import Prices by Country

In 2022, the average plastic bag import price amounted to $X per ton, with an increase of 7.7% against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic bag import price increased by +13.4% against 2019 indices. The pace of growth was the most pronounced in 2015 an increase of 46%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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