Latin America and the Caribbean: Plastic Bottle Market 2024

Plastic Bottle Market Size in Latin America and the Caribbean

In 2023, after two years of growth, there was significant decline in the Latin American plastic bottle market, when its value decreased by X% to $X. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2022, and then reduced in the following year.

Plastic Bottle Production in Latin America and the Caribbean

In value terms, plastic bottle production expanded remarkably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level in 2023 and is expected to retain growth in the near future.

Plastic Bottle Exports

Exports in Latin America and the Caribbean

In 2023, shipments abroad of carboys, bottles and similar articles of plastics increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic bottle exports soared to $X in 2023. Over the period under review, exports recorded a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Uruguay was the main exporter of carboys, bottles and similar articles of plastics in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. Peru (X tons) took the second position in the ranking, followed by El Salvador (X tons), Mexico (X tons), Guatemala (X tons) and Paraguay (X tons). All these countries together held approx. X% share of total exports. Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Uruguay (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Uruguay ($X) and El Salvador ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Uruguay, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, waning by X% against the previous year. Overall, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then contracted rapidly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by El Salvador (X%), while the other leaders experienced a decline in the export price figures.

Plastic Bottle Imports

Imports in Latin America and the Caribbean

In 2023, approx. X tons of carboys, bottles and similar articles of plastics were imported in Latin America and the Caribbean; increasing by X% on 2022. Over the period under review, imports saw a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic bottle imports skyrocketed to $X in 2023. Total imports indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2023 and is likely to continue growth in the near future.

Imports by Country

Brazil dominates imports structure, accounting for X tons, which was approx. X% of total imports in 2023. It was distantly followed by Mexico (X tons), making up a X% share of total imports. Nicaragua (X tons), Guatemala (X tons), Costa Rica (X tons), Trinidad and Tobago (X tons), El Salvador (X tons), Chile (X tons), Argentina (X tons), the Dominican Republic (X tons), Panama (X tons) and Honduras (X tons) held a little share of total imports.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2023. At the same time, Panama (X%), Nicaragua (X%), Trinidad and Tobago (X%), Costa Rica (X%), Chile (X%), the Dominican Republic (X%), El Salvador (X%), Guatemala (X%), Argentina (X%), Honduras (X%) and Mexico (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 2012-2023. Brazil (X p.p.), Nicaragua (X p.p.) and Panama (X p.p.) significantly strengthened its position in terms of the total imports, while Argentina, Honduras, Guatemala and Mexico saw its share reduced by X%, X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in Brazil stood at X%. In the other countries, the average annual rates were as follows: Mexico (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 2023, falling by X% against the previous year. Over the period under review, the import price saw a deep downturn. The pace of growth was the most pronounced in 2021 an increase of X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Panama ($X per ton), while Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Source: IndexBox Platform