Report Update Nov 1, 2024

Colombia - Potassium Sulphate (SOP) - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Colombia

After two years of growth, the Colombian potassium sulphate (SOP) market decreased by -3.7% to $X in 2022. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Potassium Sulphate (Sop) Production in Colombia

In value terms, potassium sulphate (SOP) production rose markedly to $X in 2022 estimated in export price. In general, production faced a significant decrease. The pace of growth appeared the most rapid in 2013 with an increase of 64%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Potassium Sulphate (Sop) Exports

Exports from Colombia

In 2022, exports of potassium sulphate (SOP) from Colombia soared to X kg, increasing by 15% compared with the year before. Overall, exports posted a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 193%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) exports reduced to $X in 2022. Over the period under review, exports, however, showed a deep setback. The pace of growth appeared the most rapid in 2020 when exports increased by 100% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Ecuador (X kg) was the main destination for potassium sulphate (SOP) exports from Colombia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador totaled +6.3%.

In value terms, Ecuador ($X) also remains the key foreign market for potassium sulphate (SOP) exports from Colombia.

From 2012 to 2022, the average annual growth rate of value to Ecuador totaled -8.5%.

Export Prices by Country

The average potassium sulphate (SOP) export price stood at $X per ton in 2022, with a decrease of -13.8% against the previous year. Overall, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 an increase of 41% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Ecuador.

From 2012 to 2022, the rate of growth in terms of prices for Ecuador amounted to -13.9% per year.

Potassium Sulphate (Sop) Imports

Imports into Colombia

In 2022, supplies from abroad of potassium sulphate (SOP) decreased by -3.4% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 36%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, potassium sulphate (SOP) imports reduced slightly to $X in 2022. Overall, total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 52% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Belgium (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of potassium sulphate (SOP) imports to Colombia, together accounting for 83% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +47.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest potassium sulphate (SOP) suppliers to Colombia were Belgium ($X), the Netherlands ($X) and Germany ($X), together accounting for 78% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +41.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average potassium sulphate (SOP) import price stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 15% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, 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 Chile ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+6.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for potassium sulphate (sop) in the world?

The countries with the highest volumes of potassium sulphate sop) consumption in 2021 were the United States, Finland and Chile, together accounting for 33% of global consumption. These countries were followed by Taiwan Chinese), South Africa, Pakistan, Norway, France, Peru, Iran, Mexico, the Netherlands and Japan, which together accounted for a further 35%.

What are the largest producers of potassium sulphate (sop) in the world?

The countries with the highest volumes of potassium sulphate sop) production in 2021 were the United States, Germany and Finland, with a combined 49% share of global production.

What are the leading suppliers of potassium sulphate (sop) to Colombia?

In value terms, Belgium, Germany and China constituted the largest potassium sulphate sop) suppliers to Colombia, with a combined 73% share of total imports. These countries were followed by the Netherlands and Sweden, which together accounted for a further 22%.

What is the average export price for potassium sulphate (sop) in Colombia?

In 2021, the average potassium sulphate sop) export price amounted to $407 per ton, falling by -88.4% against the previous year.

What is the average import price for potassium sulphate (sop) in Colombia?

The average potassium sulphate sop) import price stood at $597 per ton in 2021, jumping by 15% against the previous year.

This report provides an in-depth analysis of the potassium sulphate (sop) market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4017 -

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023