Key Topics Covered: 1. Overview of Mexico1.1 Geography1.2 Demographics of Mexico1.3 Economic of Mexico1.4. Minimum Wage in Mexico, 2015-20241.5. Impact of COVID-19 on Mexico' Plastics Industry2. Development Environment of the Plastics Industry in Mexico2.1. History of the Plastics Industry in Mexico2.2. Categories of Plastics in Mexico2.3. Policies for the Plastics Industry in Mexico3. Supply and Demand of the Plastics Industry in Mexico3.1. Supply of the Plastics Industry in Mexico3.1.1. Production Capacity3.1.2. Production Volume3.2. Demand of the Plastics Industry in Mexico3.2.1. Demand Volume3.2.2. Market Size4. Import and Export of the Plastics Industry in Mexico4.1. Import of the Plastics Industry in Mexico4.1.1. Import Volume and Value of Plastics in Mexico4.1.2. Main Suppliers of Plastics Imports in Mexico4.2. Export of the Plastics Industry in Mexico4.2.1. Export Volume and Value of Plastics in Mexico4.2.2. Main Destinations of Plastics Exports in Mexico5. Market Competition of Mexico's Plastics Industry5.1. Barriers to Entry in Mexico's Plastics Industry5.1.1. Brand Barriers5.1.2. Quality Barriers5.1.3. Capital Barriers5.2. Competitive Structure of Mexico's Plastics Industry5.2.1. Bargaining Power of Plastics Suppliers5.2.2. Bargaining Power of Consumers5.2.3. Competitive Landscape of Mexico's Plastics Industry5.2.4. Potential Entrants in the Plastics Industry5.2.5. Substitutes for Plastics Products6. Analysis of Major Plastics Brands in Mexico6.1. Alpek6.1.1. History of Alpek6.1.2. Main Products of Alpek6.1.3. Operating Model of Alpek6.2. Braskem Idesa6.3. Amcor plc6.4. Mondi Group6.5. Winpak Ltd.6.6. AptarGroup Inc.7. Outlook for Mexico's Plastics Industry (2024-2033)7.1. Development Factors of Mexico's Plastics Industry7.1.1. Drivers and Opportunities of the Plastics Industry in Mexico7.1.2. Threats and Challenges facing the Plastics Industry in Mexico7.2. Market Supply Forecast for the Plastics Industry in Mexico7.3. Market Demand Forecast for the Plastics Industry in Mexico7.4. Import and Export Forecast for the Plastics Industry in Mexico

Dublin, July 16, 2024 (GLOBE NEWSWIRE) -- The "Mexico Plastic Industry Research Report 2024-2033" report has been added to ResearchAndMarkets.com's offering.The demand for cleaning products, pharmaceuticals, food, and beverages has been a key driver of the plastic industry's sustained growth in Mexico, with the market size reaching approximately USD 28.7 billion in 2023. Since 2018, Mexico's plastic industry has shown continuous growth, driven primarily by the packaging sector, especially food and electrical appliance packaging. According to the publisher, the plastic packaging industry constitutes over 50% of Mexico's plastic industry market size, contributing more than 1% to the national GDP. This sector has demonstrated significant resilience against market disruptions.The increasing use of plastics in automobiles is another significant growth driver for Mexico's plastic industry. Efforts to reduce vehicle weight for better fuel efficiency heavily rely on plastic components. High-performance thermoset plastics help absorb impact, making cars safer and more durable. Additionally, electric vehicle manufacturers are exploring the use of plastic battery housings to offset battery weight and reduce fire risks. Consequently, the demand for plastic parts in automotive applications is growing.Mexico has a long history as a significant player in the automotive manufacturing industry. The United States-Mexico-Canada Agreement (USMCA), which took effect on July 1, 2020, stipulates that vehicles produced with at least 75% of components from the US, Mexico, or Canada can be sold tariff-free, up from the 62.5% required by the North American Free Trade Agreement (NAFTA). This agreement aims to further stimulate automotive production in North America.

With the acceleration of global industry relocation, Mexico, supported by the North American Free Trade Agreement, access to cheap labor, a well-established industrial chain, and manufacturing centers, is set to attract increasing foreign direct investment. In 2023, Mexico's FDI hit a record high of USD 36.058 billion, up 27% from the previous year, with 50% of the investment concentrated in manufacturing sectors, including transportation equipment, beverages, and metals.Mexico's packaging industry is striving to develop compostable materials and improve the infrastructure needed for higher recycling rates, receiving strong support from the government and related associations. According to the Mexico New Plastic Economy National Agreement, organizations commit to collecting, recycling, or manufacturing 80% of PET and 45% of packaging plastics by 2030.The publisher predicts that the ongoing population growth and the development of Mexico's manufacturing sector will continue to drive the growth of the plastic industry market. By 2033, the market size of Mexico's plastic industry is expected to reach USD 49.1 billion, with a CAGR of 5.5% from 2024 to 2033.Topics covered:

The analysis shows that in 2023, Mexico produced 3.78 million vehicles, making it the sixth-largest automobile manufacturing nation and the fourth-largest parts producer globally. Nearly all major automotive OEMs have factories in Mexico. Injection molding companies, carbon fiber producers, and other plastic suppliers operating in Mexico can benefit from this manufacturing hub by reducing time to market and transportation costs while strengthening partnerships, all of which support the growth of Mexico's plastic industry.The global medical device industry's anticipated substantial growth also boosts the demand for plastic medical devices. According to the publisher, Mexico has long been a low-cost center for manufacturing and assembling medical devices. The need for shorter delivery times has led many medical device companies to relocate production to Mexico.

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