Latin America and the Caribbean: Plastic Closure Market 2024

Plastic Closure Market Size in Latin America and the Caribbean

The Latin American plastic closure market expanded slightly to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Plastic Closure Production in Latin America and the Caribbean

In value terms, plastic closure production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Plastic Closure Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of plastic stoppers, caps and closures increased by X% to X tons, rising for the sixth consecutive year after four years of decline. In general, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, plastic closure exports surged to $X in 2022. Total exports indicated a resilient increase 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, exports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Mexico prevails in exports structure, recording X tons, which was near X% of total exports in 2022. Colombia (X tons) took the second position in the ranking, followed by Brazil (X tons) and Guatemala (X tons). All these countries together held near X% share of total exports. Costa Rica (X tons), the Dominican Republic (X tons) and Argentina (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic closure exports from Mexico stood at X%. At the same time, the Dominican Republic (X%), Guatemala (X%), Brazil (X%) and Colombia (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Argentina experienced a relatively flat trend pattern. By contrast, Costa Rica (X%) illustrated a downward trend over the same period. Mexico (X p.p.) significantly strengthened its position in terms of the total exports, while Costa Rica 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 ($X) remains the largest plastic closure supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with a X% share of total exports. It was followed by Brazil, with a X% share.

In Mexico, plastic closure exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (X% per year) and Brazil (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

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

Plastic Closure Imports

Imports in Latin America and the Caribbean

In 2022, the amount of plastic stoppers, caps and closures imported in Latin America and the Caribbean soared to X tons, with an increase of X% compared with the previous year's figure. Total imports indicated a pronounced increase from 2012 to 2022: its volume 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, imports increased by X% against 2017 indices. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, plastic closure imports rose notably to $X in 2022. The total import 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 throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

Mexico was the largest importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Chile (X tons), comprising an X% share of total imports. Brazil (X tons), Colombia (X tons), Guatemala (X tons), Peru (X tons), Argentina (X tons), Costa Rica (X tons), the Dominican Republic (X tons), El Salvador (X tons), Honduras (X tons), Jamaica (X tons) and Panama (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to plastic closure imports into Mexico stood at X%. At the same time, Panama (X%), Chile (X%), Jamaica (X%), Guatemala (X%), Costa Rica (X%), Peru (X%), the Dominican Republic (X%), Colombia (X%) and Honduras (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. El Salvador experienced a relatively flat trend pattern. By contrast, Brazil (X%) and Argentina (X%) illustrated a downward trend over the same period. While the share of Chile (X p.p.) and Panama (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Argentina (X p.p.), Brazil (X p.p.) and Mexico (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Mexico, plastic closure 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, which is down by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Brazil ($X per ton), while Chile ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :