Colombia: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Colombia

The Colombian propyl and isopropyl alcohol market fell to $X in 2022, declining by -9.1% 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). The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Propyl and isopropyl alcohol consumption peaked at $X in 2021, and then contracted in the following year.

Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports from Colombia

In 2022, after three years of decline, there was significant growth in shipments abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), when their volume increased by 33% to X tons. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 1,104%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, propyl and isopropyl alcohol exports soared to $X in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 665% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X tons) was the main destination for propyl and isopropyl alcohol exports from Colombia, accounting for a 72% share of total exports. Moreover, propyl and isopropyl alcohol exports to Ecuador exceeded the volume sent to the second major destination, Peru (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Ecuador totaled +50.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+65.6% per year) and Venezuela (+4.9% per year).

In value terms, Ecuador ($X) remains the key foreign market for propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports from Colombia, comprising 72% of total exports. The second position in the ranking was taken by Peru ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled +42.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+60.4% per year) and Venezuela (+0.9% per year).

Export Prices by Country

In 2022, the average propyl and isopropyl alcohol export price amounted to $X per ton, falling by -11.8% against the previous year. Over the period under review, the export price showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Peru ($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 Peru (-3.1%), while the prices for the other major destinations experienced a decline.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports into Colombia

Propyl and isopropyl alcohol imports into Colombia contracted slightly to X tons in 2022, remaining relatively unchanged against 2021. The total import volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2018 with an increase of 34% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, propyl and isopropyl alcohol imports fell to $X in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 44%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, the United States (X tons) was the main propyl and isopropyl alcohol supplier to Colombia, with a 94% share of total imports. It was followed by China (X tons), with a 2.2% share of total imports. Brazil (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+23.9% per year) and Brazil (+13.6% per year).

In value terms, the United States ($X) constituted the largest supplier of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) to Colombia, comprising 93% of total imports. The second position in the ranking was taken by Brazil ($X), with a 2.3% share of total imports. It was followed by China, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+10.8% per year) and China (+17.0% per year).

Import Prices by Country

The average propyl and isopropyl alcohol import price stood at $X per ton in 2022, reducing by -10.4% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 26%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Brazil ($X per ton) and the United States ($X per ton), while the price for South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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