Colombia: Triethanolamine Market 2024

Triethanolamine Market Size in Colombia

For the fourth year in a row, the Colombian triethanolamine market recorded decline in sales value, which decreased by -0.1% to $X in 2021. In general, consumption, however, recorded a pronounced contraction. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Triethanolamine Exports

Exports from Colombia

In 2021, overseas shipments of triethanolamine and its salts increased by 13% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, exports, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2014 when exports increased by 52%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, triethanolamine exports reached $X in 2021. Overall, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 9.8%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Venezuela (X tons) was the main destination for triethanolamine exports from Colombia, accounting for a 71% share of total exports. Moreover, triethanolamine exports to Venezuela exceeded the volume sent to the second major destination, the Dominican Republic (X kg), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Venezuela was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-17.0% per year) and Free Zones (-28.9% per year).

In value terms, Free Zones ($X) remains the key foreign market for triethanolamine and its salts exports from Colombia, comprising 61% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Free Zones totaled -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-14.3% per year) and Venezuela (-20.4% per year).

Export Prices by Country

The average triethanolamine export price stood at $X per ton in 2021, falling by -3.3% against the previous year. Over the last nine years, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 30% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Free Zones ($X per ton), while the average price for exports to Venezuela ($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 (+98.4%), while the prices for the other major destinations experienced more modest paces of growth.

Triethanolamine Imports

Imports into Colombia

For the fifth year in a row, Colombia recorded growth in overseas purchases of triethanolamine and its salts, which increased by 1.4% to X tons in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 23% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, triethanolamine imports reduced slightly to $X in 2021. In general, imports, however, continue to indicate a pronounced decrease. The growth pace was the most rapid in 2013 with an increase of 18%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Germany (X tons) and Mexico (X tons) were the main suppliers of triethanolamine imports to Colombia, with a combined 91% 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 Germany (with a CAGR of +65.4%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of triethanolamine and its salts to Colombia, comprising 54% of total imports. The second position in the ranking was taken by Germany ($X), with a 24% share of total imports. It was followed by Mexico, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+52.7% per year) and Mexico (-10.2% per year).

Import Prices by Country

The average triethanolamine import price stood at $X per ton in 2021, reducing by -2% against the previous year. Overall, the import price recorded a pronounced contraction. The growth pace was the most rapid in 2014 when the average import price increased by 0.3% against the previous year. 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 stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Russia ($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 (-3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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