Peru: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Peru

In 2022, after two years of growth, there was significant decline in the Peruvian polypropylene in primary forms market, when its value decreased by -17.8% to $X. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then dropped remarkably in the following year.

Exports of Polypropylene in Primary Forms

Exports from Peru

In 2022, after two years of decline, there was growth in overseas shipments of polypropylene in primary forms, when their volume increased by 4.6% to X tons. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 27%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, polypropylene in primary forms exports shrank dramatically to $X in 2022. Overall, total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +25.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 51% against the previous year. As a result, the exports attained the peak of $X, and then declined notably in the following year.

Exports by Country

Ecuador (X tons) was the main destination for polypropylene in primary forms exports from Peru, with a 68% share of total exports. Moreover, polypropylene in primary forms exports to Ecuador exceeded the volume sent to the second major destination, Colombia (X tons), eightfold. The third position in this ranking was taken by Brazil (X tons), with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-8.6% per year) and Brazil (+46.2% per year).

In value terms, Ecuador ($X) remains the key foreign market for polypropylene in primary forms exports from Peru, comprising 49% of total exports. The second position in the ranking was taken by Colombia ($X), with a 17% share of total exports. It was followed by Chile, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-0.6% per year) and Chile (+50.9% per year).

Export Prices by Country

In 2022, the average polypropylene in primary forms export price amounted to $X per ton, reducing by -20.6% against the previous year. In general, the export price, however, continues to indicate mild growth. The pace of growth appeared the most rapid in 2021 an increase of 65%. As a result, the export price attained the peak level of $X per ton, and then contracted sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (+9.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polypropylene in Primary Forms

Imports into Peru

In 2022, supplies from abroad of polypropylene in primary forms decreased by -6.7% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 16% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, polypropylene in primary forms imports dropped rapidly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 81%. As a result, imports reached the peak of $X, and then fell markedly in the following year.

Imports by Country

Saudi Arabia (X tons), China (X tons) and Brazil (X tons) were the main suppliers of polypropylene in primary forms imports to Peru, together accounting for 50% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +71.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), China ($X) and Chile ($X) appeared to be the largest polypropylene in primary forms suppliers to Peru, with a combined 50% share of total imports.

Among the main suppliers, China, with a CAGR of +67.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polypropylene in primary forms import price stood at $X per ton in 2022, dropping by -16.8% against the previous year. Over the period under review, the import price continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 57%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Taiwan (Chinese) ($X per ton) and South Korea ($X per ton), while the price for India ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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