Colombia: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Colombia

The Colombian non-aqueous paint and varnish market declined slightly to $X in 2022, remaining constant against the previous year. Over the period under review, consumption continues to indicate a slight slump. Non-aqueous paint and varnish consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Colombia

In value terms, non-aqueous paint and varnish production reduced modestly to $X in 2022 estimated in export price. Overall, production recorded a slight slump. The growth pace was the most rapid in 2013 with an increase of 12%. Non-aqueous paint and varnish production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from Colombia

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium exported from Colombia reduced to X tons, with a decrease of -12.3% on 2021 figures. In general, total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +16.2% against 2020 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 35% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, non-aqueous paint and varnish exports shrank rapidly to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 45% against the previous year. As a result, the exports attained the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Ecuador (X tons), Panama (X tons) and Peru (X tons) were the main destinations of non-aqueous paint and varnish exports from Colombia, together accounting for 65% of total exports. Venezuela, Costa Rica, Honduras, Guatemala and the United States lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +51.1%), while the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Colombia, comprising 33% of total exports. The second position in the ranking was taken by Panama ($X), with a 16% share of total exports. It was followed by Peru, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled -6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+15.1% per year) and Peru (+1.9% per year).

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, reducing by -3.6% against the previous year. Over the period under review, the export price saw a noticeable decline. The pace of growth appeared the most rapid in 2013 an increase of 9.3% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Honduras ($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 the United States (+1.6%), while the prices for the other major destinations experienced a decline.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into Colombia

In 2022, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium imported into Colombia declined to X tons, which is down by -9.5% against the previous year. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 23% against the previous year. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, non-aqueous paint and varnish imports declined sharply to $X in 2022. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 45% against the previous year. As a result, imports reached the peak of $X, and then fell notably in the following year.

Imports by Country

China (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of non-aqueous paint and varnish imports to Colombia, together accounting for 59% of total imports. Spain, France, Mexico and Brazil lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +30.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Colombia, comprising 37% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.7% per year) and Germany (+6.9% per year).

Import Prices by Country

The average non-aqueous paint and varnish import price stood at $X per ton in 2022, shrinking by -6.7% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 18% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :