Uruguay: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in Uruguay

In 2022, the Uruguayan ethylene polymer bag market increased by 7.9% to $X, rising for the second year in a row after three years of decline. Overall, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +22.4% against 2020 indices. Ethylene polymer bag consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Ethylene Polymer Bag Exports

Exports from Uruguay

In 2022, overseas shipments of sacks and bags of polymers of ethylene decreased by -4.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports saw a abrupt decrease. The growth pace was the most rapid in 2013 when exports increased by 31%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethylene polymer bag exports expanded notably to $X in 2022. In general, exports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of 43% against the previous year. Over the period under review, the exports reached the maximum 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 ethylene polymer bag exports from Uruguay, accounting for a 69% share of total exports. Moreover, ethylene polymer bag exports to Paraguay exceeded the volume sent to the second major destination, Free Zones (X tons), threefold. Spain (X tons) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Paraguay stood at +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (-4.7% per year) and Spain (+2.0% per year).

In value terms, Paraguay ($X) remains the key foreign market for sacks and bags of polymers of ethylene exports from Uruguay, comprising 72% of total exports. The second position in the ranking was held by Free Zones ($X), with a 17% share of total exports. It was followed by Spain, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to Paraguay stood at +23.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Free Zones (-2.8% per year) and Spain (+7.0% per year).

Export Prices by Country

In 2022, the average ethylene polymer bag export price amounted to $X per ton, rising by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.1%. The growth pace was the most rapid in 2017 an increase of 17%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Free Zones ($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.

Ethylene Polymer Bag Imports

Imports into Uruguay

In 2022, supplies from abroad of sacks and bags of polymers of ethylene increased by 2% to X tons, rising for the second year in a row after three years of decline. In general, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +9.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 24%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, ethylene polymer bag imports stood at $X in 2022. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 36%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of ethylene polymer bag to Uruguay, with a 72% share of total imports. Moreover, ethylene polymer bag imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-3.0% per year) and China (+4.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of sacks and bags of polymers of ethylene to Uruguay, comprising 61% of total imports. The second position in the ranking was taken by Argentina ($X), with a 27% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+0.9% per year) and China (+4.2% per year).

Import Prices by Country

In 2022, the average ethylene polymer bag import price amounted to $X per ton, surging by 6.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 an increase of 18% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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