Mexico could provide ‘waves’ of opportunity for UK plastics companies

UK plastics companies are being encouraged to capitalise on the export opportunities offered by the Mexican market as the country’s manufacturing industry continues to grow.

According to a recent study by the British Plastics Federation (BPF), the Mexican economy grew at the rate of 2.92 percent in 2015 and the plastics sector’s growth was very close at three percent.

There is over 4,500 plastics companies in Mexico, which manufacture over 4.8 million tons annually. The country consumes around 5.3 million tons of plastic products each year and four million tons of raw materials.

Direct plastic consumption per person in Mexico is approximately 48kg per year, compared to an average European consumption of over 100kg, which indicates “huge scope” for growth, according to the study’s author, Justyna Elliott.

Mexico is also the fourth largest importer of plastics machinery from the UK after the USA, India and China (source: EUROMAP). “There is a significant need for processing and ancillary equipment as well as specialised new and second-hand machinery,” Elliott explained.

According to the Department for International Trade (DIT), in 2014 trade between the UK and Mexico was worth $32bn — so it is clear there are opportunities for UK plastics companies keen to enter this huge market.

In recognition of this, DIT is providing a limited number of grants for plastics companies that wish to exhibit at Mexico’s largest plastics exhibition, Plastimagen, which takes place in November 2017.

Administered by the BPF, the grants are worth £2,500, with companies having the opportunity to form part of the UK Pavilion being run by BPF at the show.

“We are pleased to announce that we have secured grants of £2,500 for eligible British companies — but with a limit of just ten grants per show, we expect them to go quickly,” Elliott explained. “If you are hoping to be part of the British Pavilion...please get in touch soon as there is only limited space available.”

If you would like to enquire about the opportunity of exhibiting and the possibility of receiving a grant please contact Justyna Elliott. 

The full report on the opportunities offered by the Mexican market will run in length in the July/August issue of BP&R.