Latin America and the Caribbean: Plastic Packaging Market 2024

Plastic Packaging Market Size in Latin America and the Caribbean

For the third consecutive year, the Latin American plastic packaging market recorded growth in sales value, which increased by X% to $X in 2022. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2018 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Packaging Production in Latin America and the Caribbean

In value terms, plastic packaging production amounted to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Plastic Packaging Exports

Exports in Latin America and the Caribbean

In 2022, the amount of plastic packaging exported in Latin America and the Caribbean rose notably to X tons, surging by X% on 2021 figures. Over the period under review, exports continue to indicate pronounced growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, plastic packaging exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Mexico dominates exports structure, recording X tons, which was near X% of total exports in 2022. El Salvador (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Uruguay (X%). Guatemala (X tons), Peru (X tons), the Dominican Republic (X tons) and Paraguay (X tons) took a little share of total exports.

Exports from Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, El Salvador (X%), Guatemala (X%), the Dominican Republic (X%), Paraguay (X%) and Peru (X%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Uruguay experienced a relatively flat trend pattern. Mexico (X p.p.) and El Salvador (X p.p.) significantly strengthened its position in terms of the total exports, while Uruguay saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest plastic packaging supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by El Salvador ($X), with an X% share of total exports. It was followed by Uruguay, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled X%. In the other countries, the average annual rates were as follows: El Salvador (X% per year) and Uruguay (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (X%), while the other leaders experienced more modest paces of growth.

Plastic Packaging Imports

Imports in Latin America and the Caribbean

For the fifth consecutive year, LatAmerica and the Caribbean recorded growth in supplies from abroad of plastic packaging, which increased by X% to X tons in 2022. Overall, imports enjoyed a perceptible increase. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, plastic packaging imports stood at $X in 2022. The total import value increased at an average annual rate of X% 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 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Mexico prevails in imports structure, accounting for X tons, which was near X% of total imports in 2022. Chile (X tons) ranks second in terms of the total imports with a X% share, followed by Brazil (X%). The following importers - Guatemala (X tons), Nicaragua (X tons), Costa Rica (X tons) and Honduras (X tons) - each resulted at an X% share of total imports.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Chile (X%), Nicaragua (X%), Costa Rica (X%), Honduras (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Brazil experienced a relatively flat trend pattern. From 2012 to 2022, the share of Chile increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported plastic packaging in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Chile, with a X% share.

In Mexico, plastic packaging imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Chile (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, reducing by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Costa Rica ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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