Colombia: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in Colombia

The Colombian sodium phosphates market surged to $X in 2021, growing by 88% 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). Over the period under review, consumption posted prominent growth. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Sodium Phosphates Exports

Exports from Colombia

In 2021, the amount of phosphates of mono- or di-sodium exported from Colombia skyrocketed to X kg, increasing by 133% on the year before. In general, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 700%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, sodium phosphates exports surged to $X in 2021. Overall, exports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 735%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Chile (X kg) was the main destination for sodium phosphates exports from Colombia, accounting for a 55% share of total exports. Moreover, sodium phosphates exports to Chile exceeded the volume sent to the second major destination, Mexico (X kg), threefold. The third position in this ranking was held by Ecuador (X kg), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (0.0% per year) and Ecuador (-18.5% per year).

In value terms, the largest markets for sodium phosphates exported from Colombia were Chile ($X), Mexico ($X) and Ecuador ($X), with a combined 80% share of total exports. These countries were followed by Canada, Venezuela and Bolivia, which together accounted for a further 19%.

Among the main countries of destination, Canada, with a CAGR of +189.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sodium phosphates export price amounted to $X per ton, rising by 5.1% against the previous year. In general, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sodium phosphates export price increased by +62.8% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 49% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Chile ($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 Bolivia (+8.4%), while the prices for the other major destinations experienced a decline.

Sodium Phosphates Imports

Imports into Colombia

In 2021, purchases abroad of phosphates of mono- or di-sodium increased by 90% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 200%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, sodium phosphates imports skyrocketed to $X in 2021. In general, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 200% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest sodium phosphates supplier to Colombia, with a 47% share of total imports. Moreover, sodium phosphates imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+36.0% per year) and the United States (+29.0% per year).

In value terms, the largest sodium phosphates suppliers to Colombia were China ($X), Germany ($X) and the United States ($X), together comprising 67% of total imports.

Among the main suppliers, the United States, with a CAGR of +30.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average sodium phosphates import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sodium phosphates import price increased by +51.7% against 2016 indices. The pace of growth was the most pronounced in 2019 an increase of 37% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then fell in the following year.

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 Spain ($X per ton), while the price for the UK ($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 (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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