Colombia: Market for Inorganic Oxygen Compounds Of Non-Metals 2024

Market Size for Inorganic Oxygen Compounds Of Non-Metals in Colombia

After two years of decline, the Colombian market for inorganic oxygen compounds of non-metals increased by 74% to $X in 2021. Over the period under review, consumption recorded buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Inorganic Oxygen Compounds Of Non-Metals

Exports from Colombia

Inorganic oxygen compounds of non-metals exports from Colombia contracted remarkably to X tons in 2021, reducing by -73.4% compared with 2020 figures. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 421%. As a result, the exports attained the peak of X tons, and then declined remarkably in the following year.

In value terms, inorganic oxygen compounds of non-metals exports contracted significantly to $X in 2021. Overall, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2020 when exports increased by 366%. As a result, the exports reached the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Chile (X tons), the Dominican Republic (X tons) and Ecuador (X tons) were the main destinations of inorganic oxygen compounds of non-metals exports from Colombia, with a combined 97% share 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 the Dominican Republic (with a CAGR of +17.9%), while the other leaders experienced mixed trend patterns.

In value terms, the Dominican Republic ($X) remains the key foreign market for inorganic oxygen compounds of non-metals exports from Colombia, comprising 54% of total exports. The second position in the ranking was taken by Chile ($X), with a 22% share of total exports. It was followed by Ecuador, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Dominican Republic stood at +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-3.4% per year) and Ecuador (-12.8% per year).

Export Prices by Country

In 2021, the average export price for inorganic oxygen compounds of non-metals amounted to $X per ton, rising by 19% against the previous year. Over the period under review, the export price, however, saw a pronounced curtailment. The pace of growth appeared the most rapid in 2013 an increase of 25% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat 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 Ecuador ($X per ton), while the average price for exports to Chile ($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 Curacao (+7.6%), while the prices for the other major destinations experienced a decline.

Imports of Inorganic Oxygen Compounds Of Non-Metals

Imports into Colombia

In 2021, imports of inorganic oxygen compounds of non-metals into Colombia surged to X tons, picking up by 37% compared with 2020. Overall, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, inorganic oxygen compounds of non-metals imports surged to $X in 2021. Over the period under review, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 40%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons) constituted the largest inorganic oxygen compounds of non-metals supplier to Colombia, with a 43% share of total imports. Moreover, inorganic oxygen compounds of non-metals imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. Austria (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium amounted to +51.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+68.0% per year) and Austria (+6.5% per year).

In value terms, Belgium ($X) constituted the largest supplier of inorganic oxygen compounds of non-metals to Colombia, comprising 28% of total imports. The second position in the ranking was taken by Austria ($X), with an 11% share of total imports. It was followed by the United States, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value from Belgium stood at +49.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+12.5% per year) and the United States (-22.1% per year).

Import Prices by Country

The average import price for inorganic oxygen compounds of non-metals stood at $X per ton in 2021, which is down by -4.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2015 when the average import price increased by 17% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 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 the United States ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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