Latin America and the Caribbean: Polyethylene Binder Market 2024

Polyethylene Binder Market Size in Latin America and the Caribbean

In 2023, the Latin American polyethylene binder market decreased by X% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Polyethylene Binder Production in Latin America and the Caribbean

In value terms, polyethylene binder production reduced slightly to $X in 2023 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Polyethylene Binder Exports

Exports in Latin America and the Caribbean

In 2023, shipments abroad of polyethylene or polypropylene binder or baler (agricultural) twines was finally on the rise to reach X tons after two years of decline. In general, exports, however, continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports remained at a lower figure.

In value terms, polyethylene binder exports fell to $X in 2023. Over the period under review, exports, however, continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Costa Rica represented the largest exporter of polyethylene or polypropylene binder or baler (agricultural) twines in Latin America and the Caribbean, with the volume of exports recording X tons, which was approx. X% of total exports in 2023. Colombia (X tons) ranks second in terms of the total exports with a X% share, followed by Guatemala (X%) and Peru (X%). Mexico (X tons) followed a long way behind the leaders.

Costa Rica experienced a relatively flat trend pattern with regard to volume of exports of polyethylene or polypropylene binder or baler (agricultural) twines. At the same time, Colombia (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Guatemala (X%), Mexico (X%) and Peru (X%) illustrated a downward trend over the same period. Colombia (X p.p.) and Costa Rica (X p.p.) significantly strengthened its position in terms of the total exports, while Mexico and Peru saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Costa Rica ($X) remains the largest polyethylene binder supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Colombia ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Costa Rica was relatively modest. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Guatemala (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then fell in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced more modest paces of growth.

Polyethylene Binder Imports

Imports in Latin America and the Caribbean

In 2023, polyethylene binder imports in Latin America and the Caribbean shrank significantly to X tons, falling by X% compared with 2022 figures. In general, imports showed a noticeable setback. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2023, the growth of imports failed to regain momentum.

In value terms, polyethylene binder imports contracted significantly to $X in 2023. Overall, imports recorded a noticeable descent. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Costa Rica (X tons), distantly followed by Mexico (X tons), Chile (X tons), Ecuador (X tons), Panama (X tons) and Brazil (X tons) were the key importers of polyethylene or polypropylene binder or baler (agricultural) twines, together constituting X% of total imports. El Salvador (X tons), Uruguay (X tons), Argentina (X tons), Honduras (X tons) and the Dominican Republic (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Panama (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polyethylene binder importing markets in Latin America and the Caribbean were Costa Rica ($X), Mexico ($X) and Chile ($X), with a combined X% share of total imports. Panama, Ecuador, Brazil, El Salvador, Argentina, Uruguay, Honduras and the Dominican Republic lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Panama, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Costa Rica ($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 more modest paces of growth.

Source: IndexBox Platform