Colombia: Silicates Market 2024

Silicates Market Size in Colombia

After three years of growth, the Colombian silicates market decreased by -9.9% to $X in 2021. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2020, and then dropped in the following year.

Silicates Production in Colombia

In value terms, silicates production dropped to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Silicates Exports

Exports from Colombia

In 2021, approx. X tons of silicates, commercial alkali metal silicates were exported from Colombia; with an increase of 15% compared with the previous year. Overall, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by 303% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, silicates exports surged to $X in 2021. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 246% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

El Salvador (X tons), the Dominican Republic (X tons) and Guatemala (X tons) were the main destinations of silicates exports from Colombia, with a combined 80% share of total exports.

From 2012 to 2021, the biggest increases were recorded for El Salvador (with a CAGR of +106.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for silicates exported from Colombia were El Salvador ($X), the Dominican Republic ($X) and Guatemala ($X), together accounting for 81% of total exports.

Among the main countries of destination, El Salvador, with a CAGR of +104.6%, saw the highest rates of growth with regard to 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 2021, the average silicates export price amounted to $X per ton, growing by 9.9% against the previous year. In general, the export price saw modest growth. The pace of growth appeared the most rapid in 2013 an increase of 18% 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 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Silicates Imports

Imports into Colombia

In 2021, overseas purchases of silicates, commercial alkali metal silicates increased by 10% to X tons for the first time since 2014, thus ending a six-year declining trend. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 63%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, silicates imports soared to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 51%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest silicates supplier to Colombia, accounting for a 68% share of total imports. Moreover, silicates imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+95.9% per year) and the United States (-13.9% per year).

In value terms, the largest silicates suppliers to Colombia were China ($X), the United States ($X) and India ($X), with a combined 84% share of total imports.

In terms of the main suppliers, India, with a CAGR of +62.8%, saw the highest growth rate of 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 silicates import price stood at $X per ton in 2021, surging by 14% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 53%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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