Colombia: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Colombia

In 2021, after three years of decline, there was significant growth in the Colombian polyethylene glycol wax market, when its value increased by 19% to $X. Overall, consumption, however, continues to indicate a pronounced curtailment. Polyethylene glycol wax consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Polyethylene Glycol Wax Exports

Exports from Colombia

After four years of decline, overseas shipments of artificial and prepared waxes of polyethylene glycol increased by 704% to X tons in 2021. In general, exports saw a relatively flat trend pattern. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax exports soared to $X in 2021. Overall, exports posted a resilient expansion. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Chile (X tons) was the main destination for polyethylene glycol wax exports from Colombia, accounting for a 88% share of total exports. Moreover, polyethylene glycol wax exports to Chile exceeded the volume sent to the second major destination, Bolivia (X kg), more than tenfold. The third position in this ranking was held by Ecuador (X kg), with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile stood at +646.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+1,791.7% per year) and Ecuador (-39.6% per year).

In value terms, Chile ($X) remains the key foreign market for artificial and prepared waxes of polyethylene glycol exports from Colombia, comprising 83% of total exports. The second position in the ranking was held by Bolivia ($X), with a 7.3% share of total exports. It was followed by Peru, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to Chile amounted to +452.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+1,901.3% per year) and Peru (+1.2% per year).

Export Prices by Country

In 2021, the average polyethylene glycol wax export price amounted to $X per ton, reducing by -21.3% against the previous year. Overall, the export price, however, recorded a resilient expansion. The growth pace was the most rapid in 2019 when the average export price increased by 98% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then reduced remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Ecuador ($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 Peru (+28.2%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into Colombia

In 2021, supplies from abroad of artificial and prepared waxes of polyethylene glycol increased by 16% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2013 when imports increased by 71%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, polyethylene glycol wax imports surged to $X in 2021. Overall, imports, however, saw a noticeable curtailment. The pace of growth was the most pronounced in 2013 when imports increased by 53% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X tons), the United States (X tons) and Brazil (X tons) were the main suppliers of polyethylene glycol wax imports to Colombia, with a combined 75% share of total imports. Germany, Taiwan (Chinese), India and South Korea lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +185.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Mexico ($X) and Brazil ($X) were the largest polyethylene glycol wax suppliers to Colombia, together accounting for 77% of total imports. Germany, Taiwan (Chinese), India and South Korea lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +154.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, rising by 4% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 43% against the previous year. The import price peaked 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 India (+22.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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