Uruguay: 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 Uruguay

In 2021, after six years of decline, there was significant growth in the Uruguayan market for polyethylene with a specific gravity of less than X, in primary forms, when its value increased by 41% to $X. Over the period under review, consumption, however, recorded a pronounced downturn. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

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

Exports from Uruguay

Exports of polyethylene with a specific gravity of less than X, in primary forms from Uruguay surged to X tons in 2021, increasing by 160% compared with the previous year. In general, exports showed resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 180%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms skyrocketed to $X in 2021. Overall, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Colombia (X tons), Brazil (X tons) and Argentina (X tons) were the main destinations of exports of polyethylene with a specific gravity of less than X, in primary forms from Uruguay, with a combined 68% share of total exports. These countries were followed by Paraguay, Poland and Ecuador, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Paraguay (with a CAGR of +47.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X) remains the key foreign market for polyethylene with a specific gravity of less than X, in primary forms exports from Uruguay, comprising 37% of total exports. The second position in the ranking was taken by Argentina ($X), with a 17% share of total exports. It was followed by Paraguay, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia amounted to +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+34.0% per year) and Paraguay (+26.3% 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, rising by 3.4% against the previous year. In general, the export price saw a noticeable expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 57% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Poland ($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 Colombia (+8.4%), 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 Uruguay

Imports of polyethylene with a specific gravity of less than X, in primary forms into Uruguay rose remarkably to X tons in 2021, surging by 12% against the year before. Overall, imports, however, saw a pronounced curtailment. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. Over the period under review, imports, however, showed a noticeable reduction. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Brazil (X tons), the United States (X tons) and Saudi Arabia (X tons) were the main suppliers of imports of polyethylene with a specific gravity of less than X, in primary forms to Uruguay, together comprising 62% of total imports. These countries were followed by Argentina, Mexico, South Korea, China, India, Finland, Qatar, Spain and Thailand, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +27.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of polyethylene with a specific gravity of less than X, in primary forms to Uruguay, comprising 39% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by Saudi Arabia, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from Brazil stood at -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.2% per year) and Saudi Arabia (+23.7% per year).

Import Prices by Country

In 2021, the average import price for polyethylene with a specific gravity of less than X, in primary forms amounted to $X per ton, surging by 40% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Brazil ($X per ton) and Argentina ($X per ton), while the price for South Korea ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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