Colombia: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in Colombia

The Colombian potassium hydroxide market reduced slightly to $X in 2022, declining by -2.9% 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). In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Potassium Hydroxide Exports

Exports from Colombia

In 2022, overseas shipments of potassium hydroxide (caustic potash) decreased by -43.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 648% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassium hydroxide exports shrank markedly to $X in 2022. In general, exports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2021 when exports increased by 1,026% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Trinidad and Tobago (X tons) was the main destination for potassium hydroxide exports from Colombia, with a 69% share of total exports. Moreover, potassium hydroxide exports to Trinidad and Tobago exceeded the volume sent to the second major destination, Brazil (X kg), threefold. The third position in this ranking was taken by Guatemala (X kg), with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume to Trinidad and Tobago amounted to +48.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+47.6% per year) and Guatemala (-5.4% per year).

In value terms, the largest markets for potassium hydroxide exported from Colombia were Trinidad and Tobago ($X), Brazil ($X) and Guatemala ($X), together accounting for 94% of total exports.

Brazil, with a CAGR of +56.7%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average potassium hydroxide export price stood at $X per ton in 2022, dropping by -3.9% against the previous year. Over the period under review, the export price recorded a abrupt contraction. The growth pace was the most rapid in 2021 an increase of 51% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Guatemala ($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 Brazil (+6.2%), while the prices for the other major destinations experienced a decline.

Potassium Hydroxide Imports

Imports into Colombia

In 2022, supplies from abroad of potassium hydroxide (caustic potash) was finally on the rise to reach X tons after two years of decline. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 102%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, potassium hydroxide imports declined slightly to $X in 2022. Over the period under review, imports, however, saw a slight downturn. The growth pace was the most rapid in 2019 with an increase of 48% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Korea (X tons) constituted the largest potassium hydroxide supplier to Colombia, accounting for a 77% share of total imports. Moreover, potassium hydroxide imports from South Korea exceeded the figures recorded by the second-largest supplier, Russia (X tons), fivefold. The third position in this ranking was held by Brazil (X tons), with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea amounted to +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+18.9% per year) and Brazil (+1.8% per year).

In value terms, South Korea ($X) constituted the largest supplier of potassium hydroxide (caustic potash) to Colombia, comprising 74% of total imports. The second position in the ranking was taken by Russia ($X), with a 13% share of total imports. It was followed by the United States, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value from South Korea amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+18.1% per year) and the United States (-21.4% per year).

Import Prices by Country

The average potassium hydroxide import price stood at $X per ton in 2022, which is down by -6.3% against the previous year. Over the period under review, the import price saw a slight shrinkage. The growth pace was the most rapid in 2013 an increase of 21% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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