Colombia: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Colombia

The Colombian expansible polystyrene market was finally on the rise to reach $X in 2021, after three years of decline. The market value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Expansible polystyrene consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Expansible Polystyrene Exports

Exports from Colombia

In 2021, after two years of decline, there was significant growth in shipments abroad of expansible polystyrene in primary forms, when their volume increased by 219% to X tons. In general, exports, however, saw a dramatic descent. The most prominent rate of growth was recorded in 2018 with an increase of 1,938% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, expansible polystyrene exports skyrocketed to $X in 2021. Overall, exports, however, saw a precipitous shrinkage. The growth pace was the most rapid in 2018 when exports increased by 1,048% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X tons), Panama (X tons) and Ecuador (X tons) were the main destinations of expansible polystyrene exports from Colombia.

From 2012 to 2021, the biggest increases were recorded for Ecuador (with a CAGR of +160.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the Dominican Republic ($X) emerged as the key foreign market for expansible polystyrene in primary forms exports from Colombia, comprising 60% of total exports. The second position in the ranking was held by Panama ($X), with a 30% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Dominican Republic was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+28.1% per year) and Ecuador (+157.5% per year).

Export Prices by Country

In 2021, the average expansible polystyrene export price amounted to $X per ton, surging by 20% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, expansible polystyrene export price increased by +110.1% against 2018 indices. The pace of growth appeared the most rapid in 2020 an increase of 55%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Panama ($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 Hong Kong SAR (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Expansible Polystyrene Imports

Imports into Colombia

In 2021, overseas purchases of expansible polystyrene in primary forms increased by 3.8% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 14% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, expansible polystyrene imports soared to $X in 2021. The total import value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest expansible polystyrene supplier to Colombia, accounting for a 44% share of total imports. Moreover, expansible polystyrene imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. China (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.3% per year) and China (+6.4% per year).

In value terms, Taiwan (Chinese) ($X), the United States ($X) and Mexico ($X) appeared to be the largest expansible polystyrene suppliers to Colombia, together accounting for 80% of total imports. China, Canada and Turkey lagged somewhat behind, together accounting for a further 20%.

Canada, with a CAGR of +16.9%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2021, the average expansible polystyrene import price amounted to $X per ton, growing by 34% against the previous year. Overall, the import price, however, recorded a slight shrinkage. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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