Colombia: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in Colombia

After two years of decline, the Colombian aromatic alcohols market increased by 40% to $X in 2021. Over the period under review, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Aromatic alcohols consumption peaked in 2021 and is expected to retain growth in the immediate term.

Aromatic Alcohols Exports

Exports from Colombia

After two years of growth, overseas shipments of aromatic alcohols and their derivatives decreased by -37.4% to X tons in 2021. Overall, exports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2017 when exports increased by 181% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, aromatic alcohols exports reduced sharply to $X in 2021. Over the period under review, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2014 when exports increased by 291% against the previous year. The exports peaked at $X in 2020, and then fell notably in the following year.

Exports by Country

Ecuador (X tons) was the main destination for aromatic alcohols exports from Colombia, with a 59% share of total exports. Moreover, aromatic alcohols exports to Ecuador exceeded the volume sent to the second major destination, Peru (X tons), twofold. The third position in this ranking was taken by Venezuela (X kg), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume to Ecuador totaled +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+30.7% per year) and Venezuela (+19.2% per year).

In value terms, Peru ($X), Ecuador ($X) and Venezuela ($X) were the largest markets for aromatic alcohols exported from Colombia worldwide, with a combined 87% share of total exports.

Peru, with a CAGR of +36.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average aromatic alcohols export price amounted to $X per ton, waning by -13.5% against the previous year. In general, the export price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 107%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, 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 Mexico ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Alcohols Imports

Imports into Colombia

In 2021, after two years of decline, there was significant growth in overseas purchases of aromatic alcohols and their derivatives, when their volume increased by 22% to X tons. Overall, total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -24.9% against 2018 indices. The pace of growth was the most pronounced in 2018 when imports increased by 54% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, aromatic alcohols imports soared to $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 61%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

China (X tons), India (X tons) and Germany (X tons) were the main suppliers of aromatic alcohols imports to Colombia, together comprising 88% of total imports. These countries were followed by the Netherlands, Mexico, the United States and Spain, which together accounted for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +33.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of aromatic alcohols and their derivatives to Colombia, comprising 35% of total imports. The second position in the ranking was taken by India ($X), with a 15% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.3% per year) and Germany (-2.6% per year).

Import Prices by Country

The average aromatic alcohols import price stood at $X per ton in 2021, jumping by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 27% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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