Colombia: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Colombia

The Colombian market for polyethylene with a specific gravity of less than X, in primary forms soared to $X in 2021, jumping by 23% 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, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +77.2% against 2017 indices. Consumption of peaked in 2021 and is likely to see steady growth in the immediate term.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Colombia

In 2021, after four years of decline, there was significant growth in overseas shipments of polyethylene with a specific gravity of less than X, in primary forms, when their volume increased by 76% to X tons. Over the period under review, exports, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2016 with an increase of 338%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms soared to $X in 2021. Overall, exports, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 306%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Brazil (X tons), Ecuador (X tons) and Peru (X tons) were the main destinations of exports of polyethylene with a specific gravity of less than X, in primary forms from Colombia, with a combined 80% share of total exports. Argentina, Venezuela and Guatemala lagged somewhat behind, together comprising a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +39.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene with a specific gravity of less than X exported from Colombia were Brazil ($X), Ecuador ($X) and Peru ($X), with a combined 77% share of total exports. These countries were followed by Argentina, Venezuela and Guatemala, which together accounted for a further 19%.

Guatemala, with a CAGR of +33.1%, 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

The average export price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, jumping by 51% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Peru ($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 with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Colombia

In 2021, imports of polyethylene with a specific gravity of less than X, in primary forms into Colombia rose notably to X tons, growing by 8.2% against the previous year. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +59.1% against 2017 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 31%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. Overall, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +76.4% against 2019 indices. As a result, imports attained 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 polyethylene with a specific gravity of less than X supplier to Colombia, with a 50% share of total imports. Moreover, imports of polyethylene with a specific gravity of less than X, in primary forms from the United States exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), fivefold. Brazil (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+28.0% per year) and Brazil (-3.9% per year).

In value terms, the United States ($X) constituted the largest supplier of polyethylene with a specific gravity of less than X, in primary forms to Colombia, comprising 49% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 9.9% share of total imports. It was followed by Mexico, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+26.5% per year) and Mexico (+4.4% per year).

Import Prices by Country

In 2021, the average import price for polyethylene with a specific gravity of less than X, in primary forms amounted to $X per ton, jumping by 27% against the previous year. Overall, the import price, however, recorded a noticeable reduction. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were South Korea ($X per ton) and Mexico ($X per ton), while the price for India ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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