Colombia: Caustic Soda Market 2024

Caustic Soda Market Size in Colombia

The Colombian caustic soda market rose significantly to $X in 2021, growing by 11% 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, however, recorded a pronounced contraction. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Caustic Soda Exports

Exports from Colombia

Caustic soda exports from Colombia soared to X tons in 2021, increasing by 111% compared with 2020. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 270% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, caustic soda exports skyrocketed to $X in 2021. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 259%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Venezuela (X tons), Ecuador (X tons) and Panama (X tons) were the main destinations of caustic soda exports from Colombia, together accounting for 100% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +279.4%), while the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X) remains the key foreign market for caustic soda exports from Colombia, comprising 67% of total exports. The second position in the ranking was held by Ecuador ($X), with a 26% share of total exports. It was followed by Panama, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela stood at +117.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+26.5% per year) and Panama (+347.0% per year).

Export Prices by Country

The average caustic soda export price stood at $X per ton in 2021, reducing by -8.6% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 67%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Ecuador ($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 Panama (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Caustic Soda Imports

Imports into Colombia

Caustic soda imports into Colombia soared to X tons in 2021, jumping by 16% against 2020. In general, imports, however, continue to indicate a mild setback. The most prominent rate of growth was recorded in 2017 with an increase of 38%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, caustic soda imports expanded notably to $X in 2021. Overall, imports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2017 when imports increased by 46%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Peru (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of caustic soda imports to Colombia, with a combined 86% share of total imports. South Korea, China and Poland lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +868.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), the United States ($X) and Mexico ($X) constituted the largest caustic soda suppliers to Colombia, with a combined 80% share of total imports. China, South Korea and Poland lagged somewhat behind, together accounting for a further 15%.

South Korea, with a CAGR of +395.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average caustic soda import price amounted to $X per ton, dropping by -5.4% against the previous year. In general, the import price showed a mild decline. The most prominent rate of growth was recorded in 2019 when the average import price increased by 6.6% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :