Ecuador: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in Ecuador

The Ecuadorian polishes for coachwork market contracted remarkably to $X in 2022, declining by -19.9% 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). Over the period under review, consumption continues to indicate a noticeable curtailment. Polishes for coachwork consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Polishes For Coachwork Exports

Exports from Ecuador

In 2022, approx. X tons of polishes for coachwork were exported from Ecuador; picking up by 214% compared with the year before. Over the period under review, exports enjoyed a significant increase. The growth pace was the most rapid in 2013 with an increase of 3,479%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, polishes for coachwork exports surged to $X in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 2,143% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X tons) was the main destination for polishes for coachwork exports from Ecuador, accounting for a 83% share of total exports. Moreover, polishes for coachwork exports to Peru exceeded the volume sent to the second major destination, Panama (X kg), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru amounted to +79.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+23.1% per year) and Colombia (+65.0% per year).

In value terms, Peru ($X) remains the key foreign market for polishes for coachwork exports from Ecuador, comprising 90% of total exports. The second position in the ranking was held by Panama ($X), with a 9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Peru totaled +60.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-23.7% per year) and Colombia (+32.5% per year).

Export Prices by Country

In 2022, the average polishes for coachwork export price amounted to $X per ton, dropping by -23.7% against the previous year. In general, the export price showed a abrupt decrease. The pace of growth appeared the most rapid in 2021 an increase of 39% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 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 Peru ($X per ton), while the average price for exports to Colombia ($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 Peru (-10.6%), while the prices for the other major destinations experienced a decline.

Polishes For Coachwork Imports

Imports into Ecuador

In 2022, imports of polishes for coachwork into Ecuador dropped markedly to X tons, shrinking by -19.4% against the previous year. Overall, imports saw a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 97%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, polishes for coachwork imports reduced rapidly to $X in 2022. In general, imports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 65%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Brazil (X tons) and Colombia (X tons) were the main suppliers of polishes for coachwork imports to Ecuador, with a combined 63% share of total imports. Peru, China, Germany and Bolivia lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +217.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Brazil ($X) and Colombia ($X) were the largest polishes for coachwork suppliers to Ecuador, together accounting for 54% of total imports. Germany, Peru, China and Bolivia lagged somewhat behind, together comprising a further 25%.

Among the main suppliers, Bolivia, with a CAGR of +86.7%, recorded 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

In 2022, the average polishes for coachwork import price amounted to $X per ton, almost unchanged from the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 19%. As a result, import price attained the peak level of $X per ton. From 2017 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 Germany ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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