Venezuela: Market for Plastic Fittings for Tubes, Pipes and Hoses 2024

Market Size for Plastic Fittings for Tubes, Pipes and Hoses in Venezuela

In 2021, after three years of growth, there was decline in the Venezuelan market for plastic fittings for tubes, pipes and hoses, when its value decreased by -2.9% to $X. In general, consumption recorded a noticeable reduction. The pace of growth appeared the most rapid in 2020 with an increase of 8.9% against the previous year. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Plastic Fittings for Tubes, Pipes and Hoses in Venezuela

In value terms, production of plastic fittings for tubes, pipes and hoses shrank slightly to $X in 2021 estimated in export price. In general, production continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when the production volume increased by 24%. Over the period under review, production of attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Plastic Fittings for Tubes, Pipes and Hoses

Exports from Venezuela

Exports of plastic fittings for tubes, pipes and hoses from Venezuela stood at X tons in 2021, growing by 13% compared with 2020 figures. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by 430%. Over the period under review, the exports of hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of plastic fittings for tubes, pipes and hoses soared to $X in 2021. Over the period under review, exports posted prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 834%. Over the period under review, the exports of reached the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Costa Rica (X tons) was the main destination for exports of plastic fittings for tubes, pipes and hoses from Venezuela, accounting for a 67% share of total exports. Moreover, exports of plastic fittings for tubes, pipes and hoses to Costa Rica exceeded the volume sent to the second major destination, Colombia (X tons), sevenfold. The United States (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Costa Rica totaled +53.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-9.4% per year) and the United States (+49.2% per year).

In value terms, Costa Rica ($X) remains the key foreign market for plastic fittings for tubes, pipes and hoses exports from Venezuela, comprising 67% of total exports. The second position in the ranking was held by Aruba ($X), with an 8.4% share of total exports. It was followed by Colombia, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Costa Rica amounted to +62.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Aruba (+8.2% per year) and Colombia (-15.3% per year).

Export Prices by Country

The average export price for plastic fittings for tubes, pipes and hoses stood at $X per ton in 2021, increasing by 41% against the previous year. In general, the export price, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2016 an increase of 76%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Aruba ($X per ton), while the average price for exports to Panama ($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 Aruba (+14.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Plastic Fittings for Tubes, Pipes and Hoses

Imports into Venezuela

In 2021, supplies from abroad of plastic fittings for tubes, pipes and hoses increased by 70% to X tons, rising for the second year in a row after six years of decline. Over the period under review, imports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2013 with an increase of 251% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of plastic fittings for tubes, pipes and hoses skyrocketed to $X in 2021. Overall, imports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of 221% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest plastic fittings for tubes, pipes and hoses supplier to Venezuela, accounting for a 49% share of total imports. Moreover, imports of plastic fittings for tubes, pipes and hoses from China exceeded the figures recorded by the second-largest supplier, Barbados (X tons), fourfold. The third position in this ranking was taken by Colombia (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Barbados (+14.2% per year) and Colombia (-24.4% per year).

In value terms, the largest plastic fittings for tubes, pipes and hoses suppliers to Venezuela were China ($X), the United States ($X) and Barbados ($X), together comprising 52% of total imports.

Among the main suppliers, Barbados, with a CAGR of +8.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for plastic fittings for tubes, pipes and hoses stood at $X per ton in 2021, reducing by -26.5% against the previous year. Overall, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the average import price increased by 48% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+33.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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