Colombia: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Colombia

In 2022, the Colombian reaction initiators and accelerators market increased by 54% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports from Colombia

In 2022, approx. X tons of reaction initiators, reaction accelerators and catalytic preparations were exported from Colombia; with a decrease of -64.5% on the previous year. Overall, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by 106%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, reaction initiators and accelerators exports reduced dramatically to $X in 2022. Over the period under review, exports, however, showed a slight expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 180% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Peru (X tons) was the main destination for reaction initiators and accelerators exports from Colombia, with a 70% share of total exports. Moreover, reaction initiators and accelerators exports to Peru exceeded the volume sent to the second major destination, the United States (X tons), fivefold. Ecuador (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Peru totaled +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+64.2% per year) and Ecuador (-21.7% per year).

In value terms, the United States ($X) remains the key foreign market for reaction initiators, reaction accelerators and catalytic preparations exports from Colombia, comprising 76% of total exports. The second position in the ranking was held by Ecuador ($X), with a 15% share of total exports. It was followed by Peru, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +82.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-11.6% per year) and Peru (-7.1% per year).

Export Prices by Country

In 2022, the average reaction initiators and accelerators export price amounted to $X per ton, surging by 10% against the previous year. Over the period under review, the export price saw a strong expansion. The most prominent rate of growth was recorded in 2014 an increase of 56%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Peru ($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 Venezuela (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports into Colombia

In 2022, supplies from abroad of reaction initiators, reaction accelerators and catalytic preparations was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, reaction initiators and accelerators imports surged to $X in 2022. Over the period under review, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +76.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Brazil (X tons) and the United States (X tons) were the main suppliers of reaction initiators and accelerators imports to Colombia, with a combined 86% share of total imports. These countries were followed by Saudi Arabia, which accounted for a further 8.2%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +26.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Brazil ($X) and Germany ($X) appeared to be the largest reaction initiators and accelerators suppliers to Colombia, with a combined 83% share of total imports. Saudi Arabia lagged somewhat behind, comprising a further 2.3%.

Saudi Arabia, with a CAGR of +28.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average reaction initiators and accelerators import price stood at $X per ton in 2022, rising by 3.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2018 when the average import price increased by 30%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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