Colombia: Borates Market 2024

Borates Market Size in Colombia

In 2022, the Colombian borates market increased by X% to $X, rising for the third consecutive year after two years of decline. In general, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Borates Exports

Exports from Colombia

Borates exports from Colombia skyrocketed to X tons in 2022, jumping by X% on the year before. Over the period under review, exports showed a remarkable increase. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, borates exports soared to $X in 2022. In general, exports recorded buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Costa Rica (X tons), Venezuela (X tons) and Panama (X tons) were the main destinations of borates exports from Colombia, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X) remains the key foreign market for borates exports from Colombia, comprising X% of total exports. The second position in the ranking was taken by Venezuela ($X), with a X% share of total exports. It was followed by Panama, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Costa Rica amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (X% per year) and Panama (X% per year).

Export Prices by Country

The average borates export price stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price, however, enjoyed a notable increase. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Venezuela ($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 Ecuador (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Borates Imports

Imports into Colombia

In 2022, overseas purchases of borates increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, borates imports soared to $X in 2022. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), Bolivia (X tons) and Peru (X tons) were the main suppliers of borates imports to Colombia, together comprising X% of total imports.

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

In value terms, Turkey ($X) constituted the largest supplier of borates to Colombia, comprising X% of total imports. The second position in the ranking was held by Peru ($X), with a X% share of total imports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (X% per year) and the United States (X% per year).

Import Prices by Country

The average borates import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Chile ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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