Colombia: Isocyanates Market 2024

Isocyanates Market Size in Colombia

In 2022, the Colombian isocyanates market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Isocyanates Production in Colombia

In value terms, isocyanates production dropped modestly to $X in 2022 estimated in export price. In general, production continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Isocyanates Exports

Exports from Colombia

In 2022, after two years of decline, there was significant growth in shipments abroad of isocyanates, when their volume increased by X% to X tons. Overall, exports saw a slight expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, isocyanates exports surged to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X tons), Peru (X tons) and Venezuela (X tons) were the main destinations of isocyanates exports from Colombia, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X) remains the key foreign market for isocyanates exports from Colombia, comprising X% of total exports. The second position in the ranking was taken by Peru ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Ecuador totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (X% per year) and Chile (X% per year).

Export Prices by Country

In 2022, the average isocyanates export price amounted to $X per ton, waning by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Venezuela ($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 Chile (X%), while the prices for the other major destinations experienced more modest paces of growth.

Isocyanates Imports

Imports into Colombia

Isocyanates imports into Colombia totaled X tons in 2022, surging by X% against 2021. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, isocyanates imports shrank to $X in 2022. Over the period under review, imports, however, continue to indicate a slight reduction. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), China (X tons) and Poland (X tons) were the main suppliers of isocyanates imports to Colombia, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest isocyanates suppliers to Colombia were the United States ($X), Poland ($X) and China ($X), together comprising X% of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to 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 2022, the average isocyanates import price amounted to $X per ton, declining by X% against the previous year. Overall, the import price recorded a pronounced setback. The growth pace was the most rapid in 2017 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Hungary ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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