Venezuela: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Venezuela

The Venezuelan market for polyethylene terephthalate and other polyethylene terephthalate in primary forms contracted slightly to $X in 2022, with a decrease of -1.6% against the previous year. Overall, consumption continues to indicate a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Venezuela

In value terms, production of polyethylene terephthalate and other polyethylene terephthalate in primary forms dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 91%. Production of peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports from Venezuela

In 2022, overseas shipments of polyethylene terephthalate and other polyethylene terephthalate in primary forms decreased by -4.6% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 158%. Over the period under review, the exports of hit record highs at X tons in 2021, and then fell slightly in the following year.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms fell modestly to $X in 2022. Overall, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.2% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 138% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from Venezuela, accounting for a 98% share of total exports. It was followed by Brazil (X tons), with a 0.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +14.6%.

In value terms, the United States ($X) remains the key foreign market for polyethylene terephthalate and other polyethylene terephthalate in primary forms exports from Venezuela, comprising 99% of total exports. The second position in the ranking was taken by Brazil ($X), with a 0.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +8.6%.

Export Prices by Country

In 2022, the average export price for polyethylene terephthalate and other polyethylene terephthalate in primary forms amounted to $X per ton, rising by 1.7% against the previous year. Overall, the export price, however, continues to indicate a deep setback. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (-3.2%).

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports into Venezuela

After two years of growth, overseas purchases of polyethylene terephthalate and other polyethylene terephthalate in primary forms decreased by -10.6% to X tons in 2022. Over the period under review, imports faced a dramatic decrease. The growth pace was the most rapid in 2020 when imports increased by 37% against the previous year. Over the period under review, imports of reached the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms shrank to $X in 2022. Overall, imports saw a significant decrease. The pace of growth appeared the most rapid in 2020 with an increase of 34%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of polyethylene terephthalate and other polyethylene terephthalate in primary forms to Venezuela, with a 67% share of total imports. Moreover, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from Brazil exceeded the figures recorded by the second-largest supplier, Colombia (X tons), fivefold. Mexico (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at -16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-27.9% per year) and Mexico (-41.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of polyethylene terephthalate and other polyethylene terephthalate in primary forms to Venezuela, comprising 64% of total imports. The second position in the ranking was held by Colombia ($X), with a 20% share of total imports. It was followed by Mexico, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled -21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-29.7% per year) and Mexico (-48.4% per year).

Import Prices by Country

The average import price for polyethylene terephthalate and other polyethylene terephthalate in primary forms stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the import price, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2013 when the average import price increased by 7.4% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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