Colombia: Alkyd Resins Market 2024

Alkyd Resins Market Size in Colombia

In 2022, after three years of decline, there was growth in the Colombian alkyd resins market, when its value increased by 4.6% to $X. Over the period under review, consumption, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2018 with an increase of 7.1%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Alkyd Resins Production in Colombia

In value terms, alkyd resins production reduced to $X in 2022 estimated in export price. In general, production showed a noticeable slump. The pace of growth was the most pronounced in 2018 with an increase of 11% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Alkyd Resins Exports

Exports from Colombia

In 2022, shipments abroad of alkyd resins in primary forms decreased by -26.8% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a mild decrease. The pace of growth was the most pronounced in 2021 with an increase of 119% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, alkyd resins exports dropped rapidly to $X in 2022. Overall, exports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 156%. As a result, the exports reached the peak of $X, and then declined markedly in the following year.

Exports by Country

Costa Rica (X tons), Guatemala (X tons) and Bolivia (X tons) were the main destinations of alkyd resins exports from Colombia, with a combined 57% share of total exports. Honduras, Chile, Venezuela, Haiti, the United States and Ecuador lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Venezuela (with a CAGR of +51.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X) remains the key foreign market for alkyd resins in primary forms exports from Colombia, comprising 30% of total exports. The second position in the ranking was held by Guatemala ($X), with a 15% share of total exports. It was followed by Honduras, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Costa Rica stood at +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+6.2% per year) and Honduras (+36.6% per year).

Export Prices by Country

In 2022, the average alkyd resins export price amounted to $X per ton, reducing by -5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 17% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into Colombia

In 2022, the amount of alkyd resins in primary forms imported into Colombia declined significantly to X tons, waning by -30.2% against the year before. In general, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 141% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, alkyd resins imports shrank notably to $X in 2022. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 147% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest alkyd resins supplier to Colombia, accounting for a 41% share of total imports. Moreover, alkyd resins imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+47.1% per year) and Italy (+45.4% per year).

In value terms, the United States ($X) constituted the largest supplier of alkyd resins in primary forms to Colombia, comprising 39% of total imports. The second position in the ranking was taken by Italy ($X), with an 18% share of total imports. It was followed by Brazil, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+41.4% per year) and Brazil (+36.9% per year).

Import Prices by Country

In 2022, the average alkyd resins import price amounted to $X per ton, remaining constant against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2017 an increase of 34%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+8.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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