Colombia: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in Colombia

In 2021, the Colombian o-acetylsalicylic acid market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a noticeable decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

O-Acetylsalicylic Acid Exports

Exports from Colombia

In 2021, exports of o-acetylsalicylic acid, its salts and esters from Colombia contracted notably to X tons, with a decrease of -34.8% on the previous year. Overall, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of 148% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, o-acetylsalicylic acid exports contracted sharply to $X in 2021. In general, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2019 with an increase of 112% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for o-acetylsalicylic acid exports from Colombia, with a 79% share of total exports. Moreover, o-acetylsalicylic acid exports to the Dominican Republic exceeded the volume sent to the second major destination, El Salvador (X kg), more than tenfold. The third position in this ranking was taken by Chile (X kg), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume to the Dominican Republic stood at -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+107.9% per year) and Chile (+6.9% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for o-acetylsalicylic acid, its salts and esters exports from Colombia, comprising 68% of total exports. The second position in the ranking was held by El Salvador ($X), with a 13% share of total exports. It was followed by Peru, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to the Dominican Republic amounted to +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+108.5% per year) and Peru (+7.3% per year).

Export Prices by Country

In 2021, the average o-acetylsalicylic acid export price amounted to $X per ton, growing by 13% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 80% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the 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 Venezuela ($X per ton), while the average price for exports to Chile ($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 Peru (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

O-Acetylsalicylic Acid Imports

Imports into Colombia

In 2021, overseas purchases of o-acetylsalicylic acid, its salts and esters increased by 95% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a mild decline. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, o-acetylsalicylic acid imports surged to $X in 2021. Over the period under review, imports, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2018 with an increase of 62%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Spain (X tons) and Thailand (X tons) were the main suppliers of o-acetylsalicylic acid imports to Colombia, together accounting for 88% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +1.4%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), Spain ($X) and Thailand ($X) were the largest o-acetylsalicylic acid suppliers to Colombia, together accounting for 90% of total imports.

China, with a CAGR of +0.8%, recorded 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 a decline.

Import Prices by Country

In 2021, the average o-acetylsalicylic acid import price amounted to $X per ton, dropping by -23.8% against the previous year. In general, the import price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by 16% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a 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 Ecuador ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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