Colombia: Butanone Market 2024

Butanone Market Size in Colombia

The Colombian butanone market shrank to $X in 2022, waning by -8.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a abrupt setback. Butanone consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Butanone Exports

Exports from Colombia

In 2022, overseas shipments of butanone (methyl ethyl ketone) decreased by -2.7% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports saw a abrupt slump. The pace of growth was the most pronounced in 2014 when exports increased by 27% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, butanone exports shrank slightly to $X in 2022. Over the period under review, exports showed a abrupt slump. The growth pace was the most rapid in 2018 when exports increased by 7.4% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X tons) was the main destination for butanone exports from Colombia, accounting for a 91% share of total exports. Moreover, butanone exports to Ghana exceeded the volume sent to the second major destination, Ecuador (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Ghana stood at +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+8.6% per year) and Armenia (+3.7% per year).

In value terms, Ghana ($X) remains the key foreign market for butanone (methyl ethyl ketone) exports from Colombia, comprising 91% of total exports. The second position in the ranking was held by Armenia ($X), with a 5.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ghana totaled +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (-6.0% per year) and Ecuador (-8.4% per year).

Export Prices by Country

In 2022, the average butanone export price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price showed a noticeable reduction. The pace of growth appeared the most rapid in 2013 when the average export price increased by 32%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Armenia ($X per ton), while the average price for exports to Ecuador ($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 Guatemala (-1.9%), while the prices for the other major destinations experienced a decline.

Butanone Imports

Imports into Colombia

Butanone imports into Colombia dropped to X tons in 2022, reducing by -10.8% compared with the year before. Over the period under review, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 28%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, butanone imports contracted to $X in 2022. In general, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 25%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest butanone supplier to Colombia, accounting for a 69% share of total imports. Moreover, butanone imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. The Netherlands (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.1% per year) and the Netherlands (-9.0% per year).

In value terms, China ($X) constituted the largest supplier of butanone (methyl ethyl ketone) to Colombia, comprising 62% of total imports. The second position in the ranking was held by the United States ($X), with a 17% share of total imports. It was followed by the Netherlands, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.2% per year) and the Netherlands (-12.0% per year).

Import Prices by Country

The average butanone import price stood at $X per ton in 2022, surging by 3.8% against the previous year. Overall, the import price, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 17% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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