Colombia: Basic Dye Market 2024

Basic Dye Market Size in Colombia

In 2021, the Colombian basic dye market increased by 9.6% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -29.1% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Basic Dye Production in Colombia

In value terms, basic dye production stood at $X in 2021 estimated in export price. Overall, production saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 15% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Basic Dye Exports

Exports from Colombia

Basic dye exports from Colombia soared to X tons in 2021, surging by 40% on the previous year. Overall, exports enjoyed strong growth. The growth pace was the most rapid in 2018 when exports increased by 91%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, basic dye exports skyrocketed to $X in 2021. In general, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +10.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.2% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Ecuador (X tons) was the main destination for basic dye exports from Colombia, with a 76% share of total exports. Moreover, basic dye exports to Ecuador exceeded the volume sent to the second major destination, Venezuela (X tons), eightfold. The third position in this ranking was taken by Peru (X tons), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume to Ecuador stood at +24.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+22.1% per year) and Peru (+24.9% per year).

In value terms, Ecuador ($X) remains the key foreign market for basic dyes and preparations based thereon exports from Colombia, comprising 73% of total exports. The second position in the ranking was held by Venezuela ($X), with a 9.8% share of total exports. It was followed by Bolivia, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value to Ecuador amounted to +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+14.9% per year) and Bolivia (+23.6% per year).

Export Prices by Country

In 2021, the average basic dye export price amounted to $X per ton, with a decrease of -2.4% against the previous year. In general, the export price continues to indicate a deep slump. The growth pace was the most rapid in 2019 an increase of 38%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Chile ($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 Bolivia (+9.6%), while the prices for the other major destinations experienced mixed trend patterns.

Basic Dye Imports

Imports into Colombia

In 2021, imports of basic dyes and preparations based thereon into Colombia contracted to X tons, which is down by -10.7% compared with 2020 figures. In general, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 63% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, basic dye imports skyrocketed to $X in 2021. Overall, imports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 72% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of basic dye to Colombia, accounting for a 59% share of total imports. Moreover, basic dye imports from India exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +55.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+29.3% per year) and China (-11.6% per year).

In value terms, India ($X) constituted the largest supplier of basic dyes and preparations based thereon to Colombia, comprising 45% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by France, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +52.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.4% per year) and France (+10.3% per year).

Import Prices by Country

The average basic dye import price stood at $X per ton in 2021, jumping by 35% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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