Colombia: Resinoids Market 2024

Resinoids Market Size in Colombia

The Colombian resinoids market contracted modestly to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, consumption, however, saw a perceptible downturn. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Resinoids Production in Colombia

In value terms, resinoids production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2013 when the production volume increased by 27% against the previous year. Resinoids production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Resinoids Exports

Exports from Colombia

In 2022, resinoids exports from Colombia dropped sharply to X kg, with a decrease of -32% compared with 2021. In general, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2020 when exports increased by 11,786% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, resinoids exports fell to $X in 2022. Over the period under review, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2020 with an increase of 11,498%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ecuador (X kg) was the main destination for resinoids exports from Colombia, accounting for a 48% share of total exports. Moreover, resinoids exports to Ecuador exceeded the volume sent to the second major destination, Panama (X kg), twofold. The third position in this ranking was taken by Spain (X kg), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador stood at -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+0.8% per year) and Spain (-16.1% per year).

In value terms, the largest markets for resinoids exported from Colombia were the UK ($X), Spain ($X) and Ecuador ($X), with a combined 69% share of total exports.

In terms of the main countries of destination, the UK, with a CAGR of +12.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average resinoids export price amounted to $X per ton, jumping by 36% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price 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. The growth pace was the most rapid in 2013 when the average export price increased by 47% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Ecuador ($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 Costa Rica (+26.0%), while the prices for the other major destinations experienced more modest paces of growth.

Resinoids Imports

Imports into Colombia

After two years of growth, supplies from abroad of resinoids decreased by -29.3% to X tons in 2022. Over the period under review, imports, however, continue to indicate measured growth. The pace of growth was the most pronounced in 2021 with an increase of 85%. As a result, imports reached the peak of X tons, and then fell rapidly in the following year.

In value terms, resinoids imports shrank markedly to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 84%. As a result, imports reached the peak of $X, and then reduced dramatically in the following year.

Imports by Country

China (X tons), India (X tons) and Taiwan (Chinese) (X kg) were the main suppliers of resinoids imports to Colombia, together comprising 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +94.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, India ($X) constituted the largest supplier of resinoids to Colombia, comprising 38% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by France, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+62.2% per year) and France (-3.0% per year).

Import Prices by Country

The average resinoids import price stood at $X per ton in 2022, increasing by 9.2% against the previous year. Overall, the import price, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2014 an increase of 41%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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