Colombia: Bentonite Market 2024

Bentonite Market Size in Colombia

In 2022, after eight years of growth, there was significant decline in the Colombian bentonite market, when its value decreased by -10% to $X. In general, consumption enjoyed a resilient increase. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Bentonite Production in Colombia

In value terms, bentonite production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable descent. The most prominent rate of growth was recorded in 2015 with an increase of 13%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Bentonite Exports

Exports from Colombia

After three years of growth, shipments abroad of bentonite decreased by -20.8% to X tons in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 87%. The exports peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, bentonite exports declined markedly to $X in 2022. Overall, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 73%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X tons), Panama (X tons) and Peru (X tons) were the main destinations of bentonite exports from Colombia.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of +21.7%), while the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Panama ($X) and Peru ($X) appeared to be the largest markets for bentonite exported from Colombia worldwide.

Panama, with a CAGR of +16.1%, recorded the highest rates of growth with regard to 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 2022, the average bentonite export price amounted to $X per ton, almost unchanged from the previous year. Overall, the export price saw a deep reduction. The pace of growth was the most pronounced in 2015 an increase of 18% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Peru ($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 Venezuela (+18.7%), while the prices for the other major destinations experienced a decline.

Bentonite Imports

Imports into Colombia

In 2022, bentonite imports into Colombia stood at X tons, increasing by 1.7% on 2021. Over the period under review, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 60% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, bentonite imports dropped to $X in 2022. Overall, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 37%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bentonite to Colombia, with a 78% share of total imports. Moreover, bentonite imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +37.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+52.8% per year) and the United States (-18.5% per year).

In value terms, China ($X) constituted the largest supplier of bentonite to Colombia, comprising 76% of total imports. The second position in the ranking was held by the United States ($X), with a 7.3% share of total imports. It was followed by Turkey, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +36.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-14.3% per year) and Turkey (+46.3% per year).

Import Prices by Country

In 2022, the average bentonite import price amounted to $X per ton, declining by -14.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 42% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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