Colombia: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Colombia

The Colombian plastic reservoir market expanded to $X in 2022, picking up by 1.9% against the previous year. Overall, consumption, however, recorded a slight contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Plastic Reservoir Production in Colombia

In value terms, plastic reservoir production totaled $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a mild shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 57% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Plastic Reservoir Exports

Exports from Colombia

In 2022, overseas shipments of plastic reservoirs, tanks and vats increased by 60% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a deep setback. The growth pace was the most rapid in 2017 with an increase of 351% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, plastic reservoir exports surged to $X in 2022. Overall, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 330%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ecuador (X tons), Venezuela (X tons) and Cuba (X tons) were the main destinations of plastic reservoir exports from Colombia, together comprising 71% of total exports. Peru, the United States, Panama and the Dominican Republic lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +57.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic reservoir exported from Colombia were Cuba ($X), Peru ($X) and Venezuela ($X), with a combined 66% share of total exports. Ecuador, Panama, the Dominican Republic and the United States lagged somewhat behind, together comprising a further 30%.

In terms of the main countries of destination, the Dominican Republic, with a CAGR of +69.7%, saw the highest growth rate of 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 2022, the average plastic reservoir export price amounted to $X per ton, which is down by -10.8% against the previous year. Overall, the export price showed a pronounced contraction. The most prominent rate of growth was recorded in 2014 an increase of 22%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Ecuador ($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 Dominican Republic (+7.8%), while the prices for the other major destinations experienced a decline.

Plastic Reservoir Imports

Imports into Colombia

In 2022, overseas purchases of plastic reservoirs, tanks and vats were finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Overall, imports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2014 when imports increased by 110%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic reservoir imports expanded notably to $X in 2022. Over the period under review, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 125%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Venezuela (X tons), China (X tons) and Germany (X tons) were the main suppliers of plastic reservoir imports to Colombia, together comprising 80% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +27.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic reservoir suppliers to Colombia were the United States ($X), Brazil ($X) and China ($X), with a combined 58% share of total imports. Germany, Venezuela, Italy and Spain lagged somewhat behind, together comprising a further 41%.

In terms of the main suppliers, Germany, with a CAGR of +31.0%, saw the highest rates of growth with regard to 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

The average plastic reservoir import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. In general, the import price recorded a perceptible decline. The pace of growth appeared the most rapid in 2018 when the average import price increased by 125% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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