Colombia: Aromatic Monoamines Market 2024

Aromatic Monoamines Market Size in Colombia

In 2021, the Colombian aromatic monoamines market decreased by -4% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +164.5% against 2018 indices. Over the period under review, the market hit record highs at $X in 2020, and then dropped slightly in the following year.

Aromatic Monoamines Exports

Exports from Colombia

For the fifth consecutive year, Colombia recorded decline in overseas shipments of other aromatic monoamines and their derivatives, salts thereof, which decreased by -40.7% to X tons in 2021. Overall, exports saw a sharp descent. The pace of growth appeared the most rapid in 2014 with an increase of 226%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, aromatic monoamines exports fell notably to $X in 2021. Over the period under review, exports recorded a abrupt setback. The growth pace was the most rapid in 2016 when exports increased by 132%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Free Zones (X kg) was the main destination for aromatic monoamines exports from Colombia, accounting for a 57% share of total exports. Moreover, aromatic monoamines exports to Free Zones exceeded the volume sent to the second major destination, Venezuela (X kg), twofold. Brazil (X kg) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Free Zones totaled -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-24.9% per year) and Brazil (-34.3% per year).

In value terms, the largest markets for aromatic monoamines exported from Colombia were Free Zones ($X), Venezuela ($X) and Brazil ($X), with a combined 99% share of total exports. Chile, Ecuador and Costa Rica lagged somewhat behind, together comprising a further 0.6%.

Chile, with a CAGR of +49.0%, 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, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average aromatic monoamines export price amounted to $X per ton, jumping by 35% against the previous year. Overall, the export price enjoyed a resilient expansion. The pace of growth was the most pronounced in 2019 an increase of 105% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Costa Rica ($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 Chile (+34.2%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Monoamines Imports

Imports into Colombia

After two years of growth, purchases abroad of other aromatic monoamines and their derivatives, salts thereof decreased by -3.8% to X tons in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 99% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, aromatic monoamines imports fell modestly to $X in 2021. Over the period under review, total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +160.6% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 152% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then fell modestly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of aromatic monoamines to Colombia, with a 55% share of total imports. Moreover, aromatic monoamines imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+44.0% per year) and the United States (-18.3% per year).

In value terms, the largest aromatic monoamines suppliers to Colombia were India ($X), China ($X) and Brazil ($X), together accounting for 84% of total imports.

Brazil, with a CAGR of +26.1%, saw 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

The average aromatic monoamines import price stood at $X per ton in 2021, standing approx. at the previous year. In general, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aromatic monoamines import price decreased by -3.6% against 2019 indices. The growth pace was the most rapid in 2016 when the average import price increased by 58%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for the United States ($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 (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :