Colombia: Polyurethanes Market 2024

Polyurethanes Market Size in Colombia

In 2021, the Colombian polyurethanes market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Polyurethanes Exports

Exports from Colombia

In 2021, the amount of polyurethanes in primary forms exported from Colombia dropped to X tons, reducing by -7.5% against 2020 figures. Overall, exports saw a noticeable contraction. The pace of growth was the most pronounced in 2017 with an increase of 41%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, polyurethanes exports skyrocketed to $X in 2021. In general, total exports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -24.3% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 35%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X tons) was the main destination for polyurethanes exports from Colombia, accounting for a 53% share of total exports. Moreover, polyurethanes exports to Peru exceeded the volume sent to the second major destination, Ecuador (X tons), threefold. Venezuela (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Peru stood at +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-1.7% per year) and Venezuela (+44.0% per year).

In value terms, Peru ($X) remains the key foreign market for polyurethanes in primary forms exports from Colombia, comprising 49% of total exports. The second position in the ranking was held by Ecuador ($X), with a 23% share of total exports. It was followed by Venezuela, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Peru amounted to +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+1.8% per year) and Venezuela (+38.2% per year).

Export Prices by Country

The average polyurethanes export price stood at $X per ton in 2021, rising by 29% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.7%. 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 overseas markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Bolivia ($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 Free Zones (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polyurethanes Imports

Imports into Colombia

Polyurethanes imports into Colombia skyrocketed to X tons in 2021, growing by 22% on 2020. Overall, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% 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 decreased by -0.8% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by 38% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, polyurethanes imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Brazil (X tons) and Spain (X tons) were the main suppliers of polyurethanes imports to Colombia, together comprising 62% of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +11.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polyurethanes suppliers to Colombia were Italy ($X), Brazil ($X) and Spain ($X), together accounting for 60% of total imports.

Italy, with a CAGR of +11.4%, saw the highest growth rate of the value of imports, among the main suppliers 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 polyurethanes import price amounted to $X per ton, surging by 22% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, 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 Germany ($X per ton), while the price for Italy ($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 (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :