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Colombia Plastic Market Share, Size, Trends, Analysis, Report, Growth, Forecast: By Product: Polyethylene (PE), Polypropylene (PP), Polyurethane (PU), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS), Others; By Application; By End Use; Competitive Landscape; 2023-2028
Colombia Plastic Market Outlook
The Colombia plastic market size attained a value of USD 4.68 billion in 2022. The market is further expected to grow at a CAGR of 3.40% between 2023 and 2028, reaching a value of USD 5.71 billion by 2028.
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Key Trends in the Market
Plastic refers to a synthetically processed material made from various organic polymers that can be moulded into objects of different shapes and sizes while soft and set into an elastic or rigid form. Typically, plastics have long carbon chains enabling them to deform without breaking. The polymer used to manufacture plastic is mixed with additives, colourants, plasticisers, and stabilisers, among other quality enhancing products.
- Colombia is encouraging plastic producers and manufacturers in the pursuit of circular economy of plastic. Hence, the anticipated increase in the development of reusable and recyclable plastics is likely to drive the Colombia plastic market in the forecast period.
- Annual increase of plastic packaging components and containers entering the domestic Colombia market in order to cater to the business demands is further propelling the market growth.
- Continuity in development programmes attained by the Colombian construction sector is another crucial trend in the Colombia plastic market. Infrastructure development initiatives such as airport modernisation, development of ports and numerous commercial structures are expected to propel the demand for plastic in the country in the forecast period.
Market Analysis
Based on product, the market is segmented into polyethylene (PE), polypropylene (PP), polyurethane (PU), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), acrylonitrile butadiene styrene (ABS), polybutylene terephthalate (PBT), polycarbonate (PC), and bioplastics, among others. On the basis of application, the market is classified into injection moulding, blow moulding, roto moulding, compression moulding, casting, thermoforming, extrusion, and calendering, among others. By end use, the market is divided into packaging, construction, electrical and electronics, automotive, medical devices, agriculture, furniture and bedding, consumer goods, and utility, among others.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the Colombia plastic market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- BASF SE
- Evonik Industries AG
- Formosa Plastics Corporation
- Dow Chemical Company
- LyondellBasell Industries Holdings B.V.
- ESENTTIA S.A.
- Enka de Colombia SA
- Others
Market Share by Product
The polyurethane (PU) segment, based on product, accounts for a growing share of the Colombia plastic market. Polyurethane is used in the manufacturing of numerous automotive components including high-resilience foam settings, foam insulation panels, suspension insulators, and plastic cable sheets, among others. These components are likely to witness a heightened demand amidst the increasing efforts by companies to boost the production of auto parts in Colombia. Meanwhile, the polyethylene terephthalate (PET) segment is likely to witness a steady growth in the forecast period, due to the increasing demand for PET bottles, fuelled by the rising demand from packaged beverage sector.
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Competitive Landscape
BASF SE is one of the largest chemical manufacturers across the world which produces high-quality polymers, plastic additives, rubber additives, and polyamides and intermediates. The company was founded in 1865 and is headquartered in Ludwigshafen, Germany.
Evonik Industries AG is a leading specialty chemicals company offering diverse products, such as adhesive and sealants, batteries, automotive components, ceramics, dental products, food, feed, and electronic equipment, catering to the demands of various end use sectors. It was established in 2007 and is headquartered in Nordrhein-Westfalen, Germany.
Formosa Plastics Corporation is a renowned chemicals corporation offering a full line of plastic products such as polyvinyl chloride, polyethylene, polypropylene resins, caustic soda, among various types of petrochemicals. The company was founded in 1954 and is headquartered in Kaohsiung, Taiwan.
Other market players include Dow Chemical Company, LyondellBasell Industries Holdings B.V., ESENTTIA S.A., and Enka de Colombia SA, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by End Use |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Colombia Plastic Market Analysis
8.1 Key Industry Highlights
8.2 Colombia Plastic Historical Market (2018-2022)
8.3 Colombia Plastic Market Forecast (2023-2028)
9 Colombia Plastic Market by Product
9.1 Polyethylene (PE)
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Polypropylene (PP)
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 Polyurethane (PU)
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 Polyvinyl Chloride (PVC)
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.5 Polyethylene Terephthalate (PET)
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.6 Polystyrene (PS)
9.6.1 Historical Trend (2018-2022)
9.6.2 Forecast Trend (2023-2028)
9.7 Acrylonitrile Butadiene Styrene (ABS)
9.7.1 Historical Trend (2018-2022)
9.7.2 Forecast Trend (2023-2028)
9.8 Polybutylene Terephthalate (PBT)
9.8.1 Historical Trend (2018-2022)
9.8.2 Forecast Trend (2023-2028)
9.9 Polycarbonate (PC)
9.9.1 Historical Trend (2018-2022)
9.9.2 Forecast Trend (2023-2028)
9.10 Bioplastics
9.10.1 Historical Trend (2018-2022)
9.10.2 Forecast Trend (2023-2028)
9.11 Others
10 Colombia Plastic Market by Application
10.1 Injection Moulding
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Blow Moulding
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Roto Moulding
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Compression Moulding
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Casting
10.5.1 Historical Trend (2018-2022)
10.5.2 Forecast Trend (2023-2028)
10.6 Thermoforming
10.6.1 Historical Trend (2018-2022)
10.6.2 Forecast Trend (2023-2028)
10.7 Extrusion
10.7.1 Historical Trend (2018-2022)
10.7.2 Forecast Trend (2023-2028)
10.8 Calendering
10.8.1 Historical Trend (2018-2022)
10.8.2 Forecast Trend (2023-2028)
10.9 Others
11 Colombia Plastic Market by End Use
11.1 Packaging
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Construction
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 Electrical and Electronics
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 Automotive
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Medical Devices
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Agriculture
11.6.1 Historical Trend (2018-2022)
11.6.2 Forecast Trend (2023-2028)
11.7 Furniture and Bedding
11.7.1 Historical Trend (2018-2022)
11.7.2 Forecast Trend (2023-2028)
11.8 Consumer Goods
11.8.1 Historical Trend (2018-2022)
11.8.2 Forecast Trend (2023-2028)
11.9 Utility
11.9.1 Historical Trend (2018-2022)
11.9.2 Forecast Trend (2023-2028)
11.10 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Value Chain Analysis
14 Trade Data Analysis
14.1 Major Importing Countries
14.1.1 By Volume
14.1.2 By Value
14.2 Major Exporting Countries
14.2.1 By Volume
14.2.2 By Value
15 Price Analysis
16 Policy and Regulations
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 BASF SE
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Evonik Industries AG
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Formosa Plastics Corporation
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Dow Chemical Company
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 LyondellBasell Industries Holdings B.V.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 ESENTTIA S.A.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Enka de Colombia SA
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Colombia Plastic Market: Key Industry Highlights, 2018 and 2028
2. Colombia Plastic Historical Market: Breakup by Product (USD Million), 2018-2022
3. Colombia Plastic Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Colombia Plastic Historical Market: Breakup by Application (USD Million), 2018-2022
5. Colombia Plastic Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Colombia Plastic Historical Market: Breakup by End Use (USD Million), 2018-2022
7. Colombia Plastic Market Forecast: Breakup by End Use (USD Million), 2023-2028
8. Major Exporting Countries by Value
9. Major Importing Countries by Value
10. Major Exporting Countries by Volume
11. Major Importing Countries by Volume
12. Colombia Plastic Market Structure
Key Questions Answered in the Report
The market reached a value of USD 4.68 billion in 2022.
The market is estimated to grow at a CAGR of 3.40% between the forecast period of 2023 and 2028.
The market is estimated to witness a healthy growth between the forecast period of 2023-2028 to reach a value of USD 5.71 billion by 2028.
The increasing application of plastic components in packaging, agriculture, and packaging, among other sectors, expansion of key players in the country, and focus of government on a circular economy for plastic are the major drivers of the market.
The key trends in the market include the rising preference for bioplastics, advancements in production capabilities for plastics, and heightening demand for medical-grade plastics.
Polyethylene (PE), polypropylene (PP), polyurethane (PU), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), acrylonitrile butadiene styrene (ABS), polybutylene terephthalate (PBT), polycarbonate (PC), and bioplastics, among others, are the different plastic products in the market.
Injection moulding, blow moulding, roto moulding, compression moulding, casting, thermoforming, extrusion, and calendering, among others, are the major applications of the plastics market in Colombia.
BASF SE, Evonik Industries AG, Formosa Plastics Corporation, Dow Chemical Company, LyondellBasell Industries Holdings B.V., ESENTTIA S.A., and Enka de Colombia SA, among others, are the key players of the Colombia plastic market, according to the report.
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