Colombia: Hydantoin Market 2024

Hydantoin Market Size in Colombia

The Colombian hydantoin market fell to $X in 2022, which is down by -4.9% against the previous year. In general, consumption saw a perceptible setback. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Hydantoin Production in Colombia

In value terms, hydantoin production fell slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by 10% against the previous year. Hydantoin production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Hydantoin Exports

Exports from Colombia

In 2022, after three years of growth, there was significant decline in overseas shipments of hydantoin and its derivatives, when their volume decreased by -12.7% to X tons. Over the period under review, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by 170%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, hydantoin exports declined to $X in 2022. Overall, exports, however, showed a modest increase. The pace of growth was the most pronounced in 2016 when exports increased by 181%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bolivia (X tons) was the main destination for hydantoin exports from Colombia, accounting for a 68% share of total exports. Moreover, hydantoin exports to Bolivia exceeded the volume sent to the second major destination, Ecuador (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Bolivia stood at +28.9%.

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

Bolivia, with a CAGR of +27.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average hydantoin export price amounted to $X per ton, with an increase of 2.3% against the previous year. Overall, the export price, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2014 when the average export price increased by 29%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Bolivia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+15.4%), while the prices for the other major destinations experienced a decline.

Hydantoin Imports

Imports into Colombia

In 2022, the amount of hydantoin and its derivatives imported into Colombia dropped to X tons, with a decrease of -9.9% on the previous year. Over the period under review, imports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of 76% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, hydantoin imports reduced to $X in 2022. In general, imports, however, posted a noticeable increase. The growth pace was the most rapid in 2014 when imports increased by 136%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest hydantoin supplier to Colombia, accounting for a 45% share of total imports. Moreover, hydantoin imports from the United States exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), threefold. The third position in this ranking was held by Israel (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+99.1% per year) and Israel (+43.6% per year).

In value terms, China ($X) constituted the largest supplier of hydantoin and its derivatives to Colombia, comprising 43% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 16% share of total imports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+76.5% per year) and Taiwan (Chinese) (-12.5% per year).

Import Prices by Country

The average hydantoin import price stood at $X per ton in 2022, waning by -2.3% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2014 when the average import price increased by 34%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average 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 China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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