Uruguay: Plastic Support Market 2024

Plastic Support Market Size in Uruguay

The Uruguayan plastic support market rose markedly to $X in 2022, picking up by 5% against the previous year. Overall, consumption posted buoyant growth. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Plastic Support Production in Uruguay

In value terms, plastic support production rose to $X in 2022 estimated in export price. Overall, production, however, showed a resilient increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 40%. Plastic support production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plastic Support Exports

Exports from Uruguay

Plastic support exports from Uruguay contracted sharply to X tons in 2022, falling by -50.6% compared with 2021 figures. Overall, exports continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 419% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic support exports dropped markedly to $X in 2022. Over the period under review, exports showed a mild contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 245% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina (X tons) was the main destination for plastic support exports from Uruguay, with a 53% share of total exports. Moreover, plastic support exports to Argentina exceeded the volume sent to the second major destination, Chile (X tons), twofold. Mexico (X tons) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume to Argentina was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+51.5% per year) and Mexico (+5.6% per year).

In value terms, Argentina ($X) remains the key foreign market for spools, cops and similar supports of plastics exports from Uruguay, comprising 56% of total exports. The second position in the ranking was held by Mexico ($X), with a 20% share of total exports. It was followed by Chile, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Argentina stood at +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+7.8% per year) and Chile (+46.9% per year).

Export Prices by Country

In 2022, the average plastic support export price amounted to $X per ton, surging by 70% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic support export price increased by +148.0% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Chile ($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 Argentina (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Support Imports

Imports into Uruguay

In 2022, purchases abroad of spools, cops and similar supports of plastics decreased by -1.7% to X tons, falling for the third consecutive year after three years of growth. In general, imports showed a mild downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 13% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic support imports expanded remarkably to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 14% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Argentina (X tons), Brazil (X tons) and China (X tons) were the main suppliers of plastic support imports to Uruguay, with a combined 80% share of total imports. Colombia, Chile, Spain and France lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Colombia (with a CAGR of +34.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic support suppliers to Uruguay were Argentina ($X), Brazil ($X) and China ($X), with a combined 79% share of total imports. Spain, Chile, France and Colombia lagged somewhat behind, together comprising a further 14%.

Among the main suppliers, Colombia, with a CAGR of +38.2%, saw 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 plastic support import price stood at $X per ton in 2022, growing by 7.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 13%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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