Venezuela: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in Venezuela

The Venezuelan market for plastic hoses and hose fittings declined sharply to $X in 2021, with a decrease of -19.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a dramatic setback. The pace of growth appeared the most rapid in 2017 when the market value decreased by -5.6% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Plastic Hoses and Hose Fittings

Exports from Venezuela

In 2021, overseas shipments of plastic hoses and hose fittings increased by 40% to X tons for the first time since 2015, thus ending a five-year declining trend. Overall, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 317%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic hose and hose fitting exports surged to $X in 2021. In general, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 407%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for plastic hose and hose fitting exports from Venezuela, accounting for a 87% share of total exports. Moreover, plastic hose and hose fitting exports to the United States exceeded the volume sent to the second major destination, Panama (X tons), more than tenfold. Colombia (X tons) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +42.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-5.3% per year) and Colombia (-7.4% per year).

In value terms, the United States ($X) remains the key foreign market for plastic hoses and hose fittings exports from Venezuela, comprising 90% of total exports. The second position in the ranking was held by Colombia ($X), with a 4.5% share of total exports. It was followed by Panama, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-3.4% per year) and Panama (-7.6% per year).

Export Prices by Country

The average export price for plastic hoses and hose fittings stood at $X per ton in 2021, surging by 22% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Panama ($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 the Dominican Republic (+37.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Hoses and Hose Fittings

Imports into Venezuela

In 2021, supplies from abroad of plastic hoses and hose fittings decreased by -33.3% to X tons, falling for the fourth consecutive year after two years of growth. Overall, imports faced a dramatic contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 6.7% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, plastic hose and hose fitting imports reduced to $X in 2021. Over the period under review, imports saw a sharp contraction. The smallest decline of -5.4% was in 2015. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Canada (X tons), China (X tons) and Brazil (X tons) were the main suppliers of plastic hose and hose fitting imports to Venezuela, with a combined 48% share of total imports. Colombia, Mexico, Germany, Japan, Turkey, Russia, Argentina, the UK and the United States lagged somewhat behind, together comprising a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +22.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Mexico ($X) and Brazil ($X) constituted the largest plastic hose and hose fitting suppliers to Venezuela, together accounting for 39% of total imports. Canada, China, Germany, Russia, Japan, Turkey, the United States, Argentina and the UK lagged somewhat behind, together comprising a further 34%.

Japan, with a CAGR of -1.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for plastic hoses and hose fittings stood at $X per ton in 2021, with an increase of 34% against the previous year. In general, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plastic hose and hose fitting import price increased by +57.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 an increase of 41% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Mexico ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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