Mexico: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Mexico

In 2021, the Mexican market for polyethylene with a specific gravity of less than X, in primary forms was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Mexico

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms expanded modestly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 23%. As a result, production attained the peak level of $X. From 2018 to 2021, production of growth remained at a somewhat lower figure.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Mexico

After two years of growth, overseas shipments of polyethylene with a specific gravity of less than X, in primary forms decreased by -45.7% to X tons in 2021. Overall, exports, however, showed buoyant growth. The growth pace was the most rapid in 2017 with an increase of 58% against the previous year. The exports peaked at X tons in 2020, and then fell significantly in the following year.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms reduced to $X in 2021. Over the period under review, exports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2017 when exports increased by 63%. The exports peaked at $X in 2020, and then shrank in the following year.

Exports by Country

The United States (X tons) was the main destination for exports of polyethylene with a specific gravity of less than X, in primary forms from Mexico, accounting for a 41% share of total exports. Moreover, exports of polyethylene with a specific gravity of less than X, in primary forms to the United States exceeded the volume sent to the second major destination, Peru (X tons), threefold. Colombia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +41.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+13.8% per year) and Colombia (+5.8% per year).

In value terms, the United States ($X) remains the key foreign market for polyethylene with a specific gravity of less than X, in primary forms exports from Mexico, comprising 35% of total exports. The second position in the ranking was taken by Peru ($X), with a 16% share of total exports. It was followed by Colombia, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +40.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+15.8% per year) and Colombia (+8.1% per year).

Export Prices by Country

The average export price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, surging by 64% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; afterwards, it flattened through to 2021.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Chile ($X per ton) and Ecuador ($X per ton), while the average price for exports to the United States ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Mexico

In 2021, the amount of polyethylene with a specific gravity of less than X, in primary forms imported into Mexico surged to X tons, growing by 95% on the year before. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +97.9% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +114.9% against 2019 indices. 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) was the main polyethylene with a specific gravity of less than X supplier to Mexico, accounting for a 92% share of total imports. Moreover, imports of polyethylene with a specific gravity of less than X, in primary forms 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 growth rate of volume from the United States amounted to +5.2%.

In value terms, the United States ($X) constituted the largest supplier of polyethylene with a specific gravity of less than X, in primary forms to Mexico, comprising 92% of total imports. The second position in the ranking was taken by Canada ($X), with a 5.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +6.3%.

Import Prices by Country

The average import price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, picking up by 5.7% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 8%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.0%).

Source: IndexBox Platform

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