Colombia: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in Colombia

The Colombian synthetic organic colouring matters market fell rapidly to $X in 2022, reducing by -22.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank markedly in the following year.

Exports of Other Synthetic Organic Colouring Matters

Exports from Colombia

In 2022, exports of other synthetic organic colouring matters from Colombia fell rapidly to X tons, declining by -56.2% compared with the previous year. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by 29% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic organic colouring matters exports shrank rapidly to $X in 2022. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 35% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X tons) was the main destination for synthetic organic colouring matters exports from Colombia, with a 26% share of total exports. Moreover, synthetic organic colouring matters exports to Ecuador exceeded the volume sent to the second major destination, Venezuela (X tons), twofold. The third position in this ranking was held by Honduras (X tons), with a 9% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador amounted to -8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-6.1% per year) and Honduras (-3.5% per year).

In value terms, Ecuador ($X) remains the key foreign market for other synthetic organic colouring matters exports from Colombia, comprising 35% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 9.9% share of total exports. It was followed by Honduras, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled -4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-11.7% per year) and Honduras (+1.6% per year).

Export Prices by Country

The average synthetic organic colouring matters export price stood at $X per ton in 2022, declining by -14.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2013 an increase of 35% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to El Salvador ($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 Costa Rica (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Synthetic Organic Colouring Matters

Imports into Colombia

In 2022, the amount of other synthetic organic colouring matters imported into Colombia dropped rapidly to X tons, waning by -28.9% compared with the year before. Over the period under review, imports saw a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. As a result, imports reached the peak of X tons, and then dropped rapidly in the following year.

In value terms, synthetic organic colouring matters imports contracted dramatically to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 29%. Imports peaked at $X in 2021, and then declined markedly in the following year.

Imports by Country

India (X tons), China (X tons) and Mexico (X tons) were the main suppliers of synthetic organic colouring matters imports to Colombia, with a combined 69% share of total imports. Germany, the United States, Taiwan (Chinese), South Korea, Brazil, Indonesia, Italy, Spain and Switzerland lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +9.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic organic colouring matters suppliers to Colombia were India ($X), China ($X) and Germany ($X), with a combined 60% share of total imports. The United States, Mexico, Switzerland, South Korea, Taiwan (Chinese), Brazil, Indonesia, Spain and Italy lagged somewhat behind, together comprising a further 29%.

Mexico, with a CAGR of +9.9%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 synthetic organic colouring matters import price stood at $X per ton in 2022, with an increase of 4.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2019 an increase of 13% against the previous year. The import price peaked at $X per ton in 2020; afterwards, it flattened through to 2022.

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 Switzerland ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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