Colombia: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Colombia

In 2023, the Colombian market for polyethylene terephthalate and other polyethylene terephthalate in primary forms was finally on the rise to reach $X for the first time since 2020, thus ending a two-year declining trend. Overall, consumption, however, recorded a perceptible setback. The pace of growth appeared the most rapid in 2020 when the market value increased by X% against the previous year. Consumption of peaked at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Production of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Colombia

In value terms, production of polyethylene terephthalate and other polyethylene terephthalate in primary forms fell to $X in 2023 estimated in export price. Over the period under review, production saw a mild descent. The pace of growth appeared the most rapid in 2017 with an increase of X%. Production of peaked at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports from Colombia

In 2023, after eight years of decline, there was growth in shipments abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms, when their volume increased by X% to X tons. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports of remained at a lower figure.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms expanded significantly to $X in 2023. Overall, exports, however, continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports of remained at a lower figure.

Exports by Country

Venezuela (X tons) was the main destination for exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from Colombia, with a X% share of total exports. Moreover, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms to Venezuela exceeded the volume sent to the second major destination, Chile (X tons), more than tenfold. The United States (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Venezuela amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and the United States (X% per year).

In value terms, Venezuela ($X) remains the key foreign market for polyethylene terephthalate and other polyethylene terephthalate in primary forms exports from Colombia, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Venezuela was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Chile (X% per year).

Export Prices by Country

The average export price for polyethylene terephthalate and other polyethylene terephthalate in primary forms stood at $X per ton in 2023, picking up by X% against the previous year. In general, the export price, however, continues to indicate a abrupt decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports into Colombia

In 2023, overseas purchases of polyethylene terephthalate and other polyethylene terephthalate in primary forms were finally on the rise to reach X tons after three years of decline. In general, imports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports of reached the maximum at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms rose to $X in 2023. Overall, imports, however, saw a deep setback. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Mexico (X tons) constituted the largest polyethylene terephthalate and other polyethylene terephthalate in primary forms supplier to Colombia, with a X% share of total imports. Moreover, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from Mexico exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

In value terms, the largest polyethylene terephthalate and other polyethylene terephthalate in primary forms suppliers to Colombia were Taiwan (Chinese) ($X), Mexico ($X) and South Korea ($X), together comprising X% of total imports. Egypt and the United States lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Egypt, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2023, the average import price for polyethylene terephthalate and other polyethylene terephthalate in primary forms amounted to $X per ton, waning by X% against the previous year. In general, the import price recorded a deep setback. The pace of growth was the most pronounced in 2019 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform