Mexico plastic Market

Mexico plastic market is expected to experience robust market growth and the market is project to add an incremental market revenues of over USD 6 billion between 2024 and 2031 driven by driven by variety of positive reasons such as slow pace of globalization driving the global economy realignment, and trade and supply chains becoming less decentralized and less deeply interconnected. Amid rising tension between US and China, companies are looking at Mexico for nearshoring due to its proximity and free trade agreements with US to bolster their supply and value chain.

Major Mexico Plastic Market Drivers

Mexico is the 11th largest plastic producer and 12th largest consumer across the globe. The country is one of the leading region in plastic recycling market. Mexico plastic and resins industry employees approx. 260,000 workers directly and around 500,000 indirectly employed in more than 5,000 companies in this industry. In addition, almost 60% of plastic manufacturers are micro-enterprise and 24% are small organizations. Plastic producers are located across various areas such as Mexico City, San Luis Potosi, Jalisco, Puebla, Querétaro, Sonora, among others.

Mexico plastic industry is prominent worldwide. As per the National association of plastics in Mexico, 48% of plastic products are used for packaging industry. The country consumes more plastic products than they manufacture. For instance, plastic imports in 2018 is increased by 11.4% from 2014. In 2018, around 7 million MT plastic were produced throughout the country. Moreover, US holds more than 60% share among other supplier in terms of imports of plastic goods. Mexico also imports plastic products from other countries like South Korea, Japan, China, Canada, and Germany.

Growing demand for plastic products in automotive and aerospace industry will continue to increase demand for plastics across the country. Increasing government regulations regarding the single-use plastics such as plastic bags, straws, among others. In 2020, Mexico government banned the use of plastic bag in supermarket and hypermarket, among other retail outlets. Moreover, rapid population growth led to the rapid urbanization and industrialization is likely to contribute towards steady growth of Mexico plastic products market.

Plastic products such as PET, HDPE and PVC holds more than 50% of market share which are produced in Mexico. Growing demand for plastic materials such as PVC pipes and fittings and PP films is expected to drive the market in future. Increasing adoption of the recycling technologies by the plastic producers to minimize the negative impact on environment.

Packaging Industry captures the largest share in the market due to the increasing demand for plastic products in this industry. Rising plastic packaging production along with the growing need for plastic packaging in food and beverage industry is predicted to support the market growth. Plastic products are also used in the construction and agriculture industry.

Segments covered in the Report:

The Mexico plastic Market has been segmented on the basis of Type and End-Use Industry. Based on the Type, the market is segmented into Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Polyurethane, Polystyrene, Others. Based on the End-Use Industry, the market is segmented into Packaging, Automotive & Transportation, Infrastructure & Construction, Consumer Goods, Healthcare & Pharmaceuticals, Electrical & Electronics, Others.

Market Segmentation

Mexico Plastic Market by Type

• • Polyethylene
  • Polypropylene
  • Polyethylene Terephthalate
  • Polyvinyl Chloride
  • Polyurethane
  • Polystyrene
  • Others

Mexico Plastic Market by End-Use Industry

• • Packaging
  • Automotive & Transportation
  • Infrastructure & Construction
  • Consumer Goods
  • Healthcare & Pharmaceuticals
  • Electrical & Electronics
  • Others