Colombia: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Colombia

The Colombian polyethylene in primary forms market skyrocketed to $X in 2021, jumping by 40% 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). The market value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Polyethylene in Primary Forms

Exports from Colombia

In 2021, overseas shipments of polyethylene in primary forms were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, recorded a pronounced decrease. The growth pace was the most rapid in 2016 when exports increased by 201%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, polyethylene in primary forms exports skyrocketed to $X in 2021. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 175% against the previous year. 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

Brazil (X tons), Ecuador (X tons) and Peru (X tons) were the main destinations of polyethylene in primary forms exports from Colombia, together accounting for 68% of total exports. These countries were followed by Venezuela, Argentina, Guatemala, Mexico, the United States, Bolivia and Chile, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +36.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene in primary forms exported from Colombia were Brazil ($X), Ecuador ($X) and Venezuela ($X), together comprising 67% of total exports. Peru, Argentina, Guatemala, Mexico, the United States, Bolivia and Chile lagged somewhat behind, together comprising a further 29%.

Guatemala, with a CAGR of +29.5%, recorded the highest growth rate of the value of exports, among the main countries of destination 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 polyethylene in primary forms export price amounted to $X per ton, jumping by 52% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene in Primary Forms

Imports into Colombia

For the fourth consecutive year, Colombia recorded growth in overseas purchases of polyethylene in primary forms, which increased by 6.9% to X tons in 2021. The total import volume increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 17%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, polyethylene in primary forms imports surged to $X in 2021. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of polyethylene in primary forms to Colombia, with a 48% share of total imports. Moreover, polyethylene in primary forms imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sixfold. The third position in this ranking was taken by Saudi Arabia (X tons), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+5.3% per year) and Saudi Arabia (+5.0% per year).

In value terms, the United States ($X) constituted the largest supplier of polyethylene in primary forms to Colombia, comprising 46% of total imports. The second position in the ranking was held by South Korea ($X), with a 7.8% share of total imports. It was followed by Saudi Arabia, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+4.9% per year) and Saudi Arabia (+5.6% per year).

Import Prices by Country

In 2021, the average polyethylene in primary forms import price amounted to $X per ton, growing by 53% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Mexico ($X per ton) and Qatar ($X per ton), while the price for Canada ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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