Mexico: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Mexico

The Mexican plastic ornamental articles market declined to $X in 2022, with a decrease of -11.1% against the previous year. Over the period under review, consumption continues to indicate a mild shrinkage. Plastic ornamental articles consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Plastic Ornamental Articles Production in Mexico

In value terms, plastic ornamental articles production declined to $X in 2022 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.1% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 19% against the previous year. Plastic ornamental articles production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Plastic Ornamental Articles Exports

Exports from Mexico

Plastic ornamental articles exports from Mexico surged to X tons in 2022, increasing by 99% on the previous year. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by 186%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, plastic ornamental articles exports surged to $X in 2022. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 63% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for plastic ornamental articles exports from Mexico, accounting for a approx. 98% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +19.9%.

In value terms, the United States ($X) also remains the key foreign market for statuettes and other ornamental articles of plastic exports from Mexico.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +14.8%.

Export Prices by Country

The average plastic ornamental articles export price stood at $X per ton in 2022, declining by -34.3% against the previous year. In general, the export price showed a noticeable setback. The most prominent rate of growth was recorded in 2016 an increase of 24%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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 -4.2% per year.

Plastic Ornamental Articles Imports

Imports into Mexico

In 2022, purchases abroad of statuettes and other ornamental articles of plastic increased by 31% to X tons, rising for the second year in a row after eight years of decline. Over the period under review, imports, however, recorded a mild curtailment. The pace of growth was the most pronounced in 2021 with an increase of 115%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, plastic ornamental articles imports surged to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 57% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) was the main plastic ornamental articles supplier to Mexico, with a 92% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.7% per year) and Vietnam (+17.8% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Mexico, comprising 85% of total imports. The second position in the ranking was held by the United States ($X), with a 4.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.8% per year) and Vietnam (+18.0% per year).

Import Prices by Country

In 2022, the average plastic ornamental articles import price amounted to $X per ton, reducing by -8.6% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic ornamental articles import price decreased by -33.4% against 2020 indices. The pace of growth appeared the most rapid in 2013 an increase of 36%. Over the period under review, average import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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