Uruguay: Plastic Bag Market 2024

Plastic Bag Market Size in Uruguay

The Uruguayan plastic bag market contracted slightly to $X in 2022, waning by -4.5% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the market value increased by 7.5%. Plastic bag consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Plastic Bag Production in Uruguay

In value terms, plastic bag production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 1.9%. Plastic bag production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Plastic Bag Exports

Exports from Uruguay

After four years of growth, shipments abroad of plastic sacks and bags decreased by -13.5% to X tons in 2022. Overall, exports recorded a pronounced setback. The most prominent rate of growth was recorded in 2019 when exports increased by 58%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, plastic bag exports fell to $X in 2022. In general, exports, however, saw notable growth. The pace of growth was the most pronounced in 2019 when exports increased by 91%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Paraguay (X tons) was the main destination for plastic bag exports from Uruguay, with a 67% share of total exports. Moreover, plastic bag exports to Paraguay exceeded the volume sent to the second major destination, Free Zones (X tons), fourfold. The third position in this ranking was held by Spain (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Paraguay amounted to +24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (-4.5% per year) and Spain (+5.1% per year).

In value terms, Paraguay ($X) remains the key foreign market for plastic sacks and bags exports from Uruguay, comprising 71% of total exports. The second position in the ranking was taken by Spain ($X), with a 13% share of total exports. It was followed by Free Zones, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Paraguay stood at +30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+10.1% per year) and Free Zones (-2.8% per year).

Export Prices by Country

The average plastic bag export price stood at $X per ton in 2022, picking up by 12% against the previous year. In general, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic bag export price increased by +78.6% against 2016 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 28%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Free Zones ($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 Mexico (+37.9%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into Uruguay

In 2022, plastic bag imports into Uruguay reduced sharply to X tons, falling by -15.1% on the year before. Over the period under review, imports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 31%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, plastic bag imports reduced to $X in 2022. Overall, imports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of plastic bag to Uruguay, accounting for a 74% share of total imports. Moreover, plastic bag imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fivefold. China (X tons) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-9.0% per year) and China (-6.5% per year).

In value terms, Brazil ($X) constituted the largest supplier of plastic sacks and bags to Uruguay, comprising 66% of total imports. The second position in the ranking was taken by Argentina ($X), with a 21% share of total imports. It was followed by China, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value from Brazil stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-10.1% per year) and China (-6.8% per year).

Import Prices by Country

The average plastic bag import price stood at $X per ton in 2022, growing by 9.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 10% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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