Mexico: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Mexico

In 2021, the Mexican polyethylene in primary forms market increased by 44% to $X, rising for the second consecutive year after three years of decline. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +63.4% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Polyethylene in Primary Forms in Mexico

In value terms, polyethylene in primary forms production dropped to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 37%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Polyethylene in Primary Forms

Exports from Mexico

After two years of growth, overseas shipments of polyethylene in primary forms decreased by -41.1% to X tons in 2021. Over the period under review, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by 92%. Over the period under review, the exports reached the maximum at X tons in 2020, and then contracted dramatically in the following year.

In value terms, polyethylene in primary forms exports declined to $X in 2021. Overall, exports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 78% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for polyethylene in primary forms exports from Mexico, accounting for a 65% share of total exports. Moreover, polyethylene in primary forms exports to the United States exceeded the volume sent to the second major destination, Peru (X tons), eightfold. Guatemala (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+15.3% per year) and Guatemala (+16.2% per year).

In value terms, the United States ($X) remains the key foreign market for polyethylene in primary forms exports from Mexico, comprising 61% of total exports. The second position in the ranking was taken by Peru ($X), with a 9.4% share of total exports. It was followed by Guatemala, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+17.0% per year) and Guatemala (+17.8% per year).

Export Prices by Country

The average polyethylene in primary forms export price stood at $X per ton in 2021, growing by 62% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. 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 for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene in Primary Forms

Imports into Mexico

In 2021, overseas purchases of polyethylene in primary forms were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene in primary forms imports skyrocketed to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of polyethylene in primary forms to Mexico, accounting for a 89% share of total imports. Moreover, polyethylene in primary forms imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+3.0% per year) and South Korea (+19.3% per year).

In value terms, the United States ($X) constituted the largest supplier of polyethylene in primary forms to Mexico, comprising 90% of total imports. The second position in the ranking was held by Canada ($X), with a 6.6% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+4.4% per year) and South Korea (+18.8% per year).

Import Prices by Country

In 2021, the average polyethylene in primary forms import price amounted to $X per ton, rising by 6.8% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2014 an increase of 9.6% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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