Colombia: Market for Caustic Soda in Aqueous Solution (Soda Lye) 2024

Market Size for Caustic Soda in Aqueous Solution (Soda Lye) in Colombia

The Colombian market for caustic soda in aqueous solution (soda lye) totaled $X in 2021, with an increase of 12% 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). In general, consumption, however, continues to indicate a perceptible decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Caustic Soda in Aqueous Solution (Soda Lye)

Exports from Colombia

In 2021, the amount of caustic soda in aqueous solution (soda lye) exported from Colombia skyrocketed to X tons, increasing by 111% against the previous year. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 272% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, exports of caustic soda in aqueous solution (soda lye) surged to $X in 2021. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 268%. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Venezuela (X tons), Ecuador (X tons) and Panama (X tons) were the main destinations of exports of caustic soda in aqueous solution (soda lye) from Colombia, with a combined 99.9% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +279.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X) remains the key foreign market for caustic soda in aqueous solution (soda lye) exports from Colombia, comprising 67% of total exports. The second position in the ranking was held by Ecuador ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Venezuela totaled +117.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+26.5% per year) and Panama (+347.0% per year).

Export Prices by Country

In 2021, the average export price for caustic soda in aqueous solution (soda lye) amounted to $X per ton, waning by -8.2% against the previous year. Overall, the export price, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2013 an increase of 127% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Ecuador ($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 Panama (+17.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Caustic Soda in Aqueous Solution (Soda Lye)

Imports into Colombia

In 2021, purchases abroad of caustic soda in aqueous solution (soda lye) increased by 15% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a slight descent. The pace of growth appeared the most rapid in 2014 when imports increased by 19%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of caustic soda in aqueous solution (soda lye) totaled $X in 2021. Overall, imports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 48%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Peru (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of imports of caustic soda in aqueous solution (soda lye) to Colombia, with a combined 94% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of +2.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest caustic soda in aqueous solution (soda lye) suppliers to Colombia were Peru ($X), the United States ($X) and Mexico ($X), together accounting for 93% of total imports.

Peru, with a CAGR of +1.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for caustic soda in aqueous solution (soda lye) stood at $X per ton in 2021, which is down by -3.5% against the previous year. Over the period under review, the import price recorded a slight shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 44%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Mexico ($X per ton) and the United States ($X per ton), while the price for Peru ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :