Colombia: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Market Size in Colombia

The Colombian polymethyl methacrylate market totaled $X in 2022, growing by 3.5% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.3% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Polymethyl Methacrylate Production in Colombia

In value terms, polymethyl methacrylate production reached $X in 2022 estimated in export price. In general, production saw buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of 27% against the previous year. Polymethyl methacrylate production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Polymethyl Methacrylate Exports

Exports from Colombia

In 2022, overseas shipments of polymethyl methacrylate in primary forms decreased by -7.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total exports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.7% 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 +57.1% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 44%. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, polymethyl methacrylate exports contracted to $X in 2022. Overall, total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +61.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 44%. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

The United States (X tons), Chile (X tons) and Mexico (X tons) were the main destinations of polymethyl methacrylate exports from Colombia, together accounting for 46% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +20.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polymethyl methacrylate exported from Colombia were the United States ($X), Chile ($X) and Mexico ($X), with a combined 46% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +18.7%, 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 2022, the average polymethyl methacrylate export price amounted to $X per ton, which is down by -2.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then shrank in the following year.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Peru ($X per ton) and Chile ($X per ton), while the average price for exports to Mexico ($X per ton) and Venezuela ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polymethyl Methacrylate Imports

Imports into Colombia

In 2022, overseas purchases of polymethyl methacrylate in primary forms increased by 5.3% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 28%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, polymethyl methacrylate imports rose slightly to $X in 2022. In general, imports, however, faced a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 42% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), Sweden (X tons) and China (X tons) were the main suppliers of polymethyl methacrylate imports to Colombia, with a combined 60% share of total imports. Taiwan (Chinese), Germany, South Korea, the UK and Brazil lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +86.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) constituted the largest supplier of polymethyl methacrylate in primary forms to Colombia, comprising 54% of total imports. The second position in the ranking was held by South Korea ($X), with a 9.9% share of total imports. It was followed by the United States, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value from Sweden totaled +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+103.7% per year) and the United States (-25.4% per year).

Import Prices by Country

The average polymethyl methacrylate import price stood at $X per ton in 2022, declining by -1.8% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polymethyl methacrylate import price increased by +26.1% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of 34%. The import price peaked at $X per ton in 2021, and then dropped slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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