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Refined Petroleum Product

Market in Colombia to 2022


Published: 2/2018
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Table of Contents

1. Overall Refined Petroleum Products Market in Colombia 6


Demand 6
Production 7
Market by Type 8
Petroleum oils and bituminous mineral oils 9
Liquefied butanes 10
Liquefied propane 11
Liquefied butylene, butadiene, ethylene and propylene 12
Other liquefied petroleum gases and gaseous hydrocarbons 13
Other petroleum gases and gaseous hydrocarbons 14
Paraffin wax 15
Petroleum jelly 16
Other mineral waxes 17
Calcined petroleum coke 18
Not calcined petroleum coke 19
Petroleum bitumen 20
Other residues of petroleum oils 21

2. Definition 22

3. Methodology and Sources 23

4. About Global Research & Data Services 25

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List of Tables

Table 1 Demand for refined petroleum products in Colombia, 2011-2022 (US dollars)
Table 2 Production of refined petroleum products in Colombia, 2011-2022 (US dollars)
Table 3 Demand for refined petroleum products in Colombia, by type, 2011, 2017 and 2022 (share)
Table 4 Demand for petroleum oils and bituminous mineral oils in Colombia, 2011-2022 (US dollars)
Table 5 Demand for liquefied butanes in Colombia, 2011-2022 (US dollars)
Table 6 Demand for liquefied propane in Colombia, 2011-2022 (US dollars)
Table 7 Demand for liquefied butylene, butadiene, ethylene and propylene in Colombia, 2011-2022 (US dollars)
Table 8 Demand for other liquefied petroleum gases and gaseous hydrocarbons in Colombia, 2011-2022 (US dollars)
Table 9 Demand for other petroleum gases and gaseous hydrocarbons in Colombia, 2011-2022 (US dollars)
Table 10 Demand for paraffin wax in Colombia, 2011-2022 (US dollars)
Table 11 Demand for petroleum jelly in Colombia, 2011-2022 (US dollars)
Table 12 Demand for other mineral waxes in Colombia, 2011-2022 (US dollars)
Table 13 Demand for calcined petroleum coke in Colombia, 2011-2022 (US dollars)
Table 14 Demand for not calcined petroleum coke in Colombia, 2011-2022 (US dollars)
Table 15 Demand for petroleum bitumen in Colombia, 2011-2022 (US dollars)
Table 16 Demand for other residues of petroleum oils in Colombia, 2011-2022 (US dollars)

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List of Graphs

Graph 1 Demand for refined petroleum products in Colombia, 2011-2022 (US dollars)
Graph 2 Production of refined petroleum products in Colombia, 2011-2022 (US dollars)
Graph 3 Demand for petroleum oils and bituminous mineral oils in Colombia, 2011-2022 (US dollars)
Graph 4 Demand for liquefied butanes in Colombia, 2011-2022 (US dollars)
Graph 5 Demand for liquefied propane in Colombia, 2011-2022 (US dollars)
Graph 6 Demand for liquefied butylene, butadiene, ethylene and propylene in Colombia, 2011-2022 (US dollars)
Graph 7 Demand for other liquefied petroleum gases and gaseous hydrocarbons in Colombia, 2011-2022 (US dollars)
Graph 8 Demand for other petroleum gases and gaseous hydrocarbons in Colombia, 2011-2022 (US dollars)
Graph 9 Demand for paraffin wax in Colombia, 2011-2022 (US dollars)
Graph 10 Demand for petroleum jelly in Colombia, 2011-2022 (US dollars)
Graph 11 Demand for other mineral waxes in Colombia, 2011-2022 (US dollars)
Graph 12 Demand for calcined petroleum coke in Colombia, 2011-2022 (US dollars)
Graph 13 Demand for not calcined petroleum coke in Colombia, 2011-2022 (US dollars)
Graph 14 Demand for petroleum bitumen in Colombia, 2011-2022 (US dollars)
Graph 15 Demand for other residues of petroleum oils in Colombia, 2011-2022 (US dollars)

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1. Overall Refined Petroleum Products Market in Colombia

Demand
Table 1 Demand for refined petroleum products in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 21,436.2 25,677.4 26,863.3 27,072.2 25,764.0 28,577.4 30,329.1 31,400.4 33,361.7 35,976.0 37,666.4 39,540.3
Growth 19.8 % 4.6 % 0.8 % -4.8 % 10.9 % 6.1 % 3.5 % 6.2 % 7.8 % 4.7 % 5.0 %
Source: Statzon from United Nations

Graph 1 Demand for refined petroleum products in Colombia, 2011-2022 (US dollars)
45,000.0

40,000.0

35,000.0

30,000.0
Millions of dollars

25,000.0

20,000.0

15,000.0

10,000.0

5,000.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

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Production
Table 2 Production of refined petroleum products in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 22,204.5 24,770.4 24,925.3 22,450.4 21,956.7 26,893.8 27,673.3 28,406.4 30,127.5 32,607.1 34,215.9 36,080.3
Growth 11.6 % 0.6 % -9.9 % -2.2 % 22.5 % 2.9 % 2.6 % 6.1 % 8.2 % 4.9 % 5.4 %
Source: Statzon from United Nations

Graph 2 Production of refined petroleum products in Colombia, 2011-2022 (US dollars)


40,000.0

35,000.0

30,000.0

25,000.0
Millions of dollars

20,000.0

15,000.0

10,000.0

5,000.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

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Market by Type
Table 3 Demand for refined petroleum products in Colombia, by type, 2011, 2017 and 2022 (share)
2011 2017 2022
Petroleum oils and bituminous mineral oils 99.0 % 99.3 % 99.4 %
Liquefied butanes 0.2 % 0.1 % 0.1 %
Liquefied propane 0.2 % 0.2 % 0.2 %
Liquefied butylene, butadiene, ethylene and propylene 0.0 % 0.0 % 0.0 %
Other liquefied petroleum gases and gaseous hydrocarbons 0.0 % 0.0 % 0.0 %
Other petroleum gases and gaseous hydrocarbons 0.0 % 0.0 % 0.0 %
Paraffin wax 0.1 % 0.1 % 0.1 %
Petroleum jelly 0.0 % 0.0 % 0.0 %
Other mineral waxes 0.4 % 0.2 % 0.2 %
Calcined petroleum coke 0.0 % 0.0 % 0.0 %
Not calcined petroleum coke 0.0 % 0.0 % 0.0 %
Petroleum bitumen 0.1 % 0.0 % 0.0 %
Other residues of petroleum oils 0.0 % 0.0 % 0.0 %
Source: Statzon from United Nations

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Petroleum oils and bituminous mineral oils
Table 4 Demand for petroleum oils and bituminous mineral oils in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 21,211.4 25,460.4 26,667.6 26,903.9 25,607.4 28,397.7 30,130.1 31,191.1 33,152.1 35,756.4 37,439.8 39,304.7
Growth 20.0 % 4.7 % 0.9 % -4.8 % 10.9 % 6.1 % 3.5 % 6.3 % 7.9 % 4.7 % 5.0 %
Source: Statzon from United Nations

Graph 3 Demand for petroleum oils and bituminous mineral oils in Colombia, 2011-2022 (US dollars)
45,000.0

40,000.0

35,000.0

30,000.0
Millions of dollars

25,000.0

20,000.0

15,000.0

10,000.0

5,000.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Liquefied butanes
Table 5 Demand for liquefied butanes in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 39.0 39.9 39.4 25.9 20.8
-9- 18.4 24.2 27.3 26.8 27.2 27.5 28.0
Growth 2.1 % -1.1 % -34.3 % -19.9 % -11.6 % 31.6 % 13.0 % -1.9 % 1.7 % 1.0 % 1.8 %
Source: Statzon from United Nations
Liquefied butanes
Table 5 Demand for liquefied butanes in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 39.0 39.9 39.4 25.9 20.8 18.4 24.2 27.3 26.8 27.2 27.5 28.0
Growth 2.1 % -1.1 % -34.3 % -19.9 % -11.6 % 31.6 % 13.0 % -1.9 % 1.7 % 1.0 % 1.8 %
Source: Statzon from United Nations

Graph 4 Demand for liquefied butanes in Colombia, 2011-2022 (US dollars)


45.0

40.0

35.0

30.0
Millions of dollars

25.0

20.0

15.0

10.0

5.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Liquefied propane
Table 6 Demand for liquefied propane in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 51.7 52.9 47.3 43.6 39.4
- 10 - 46.0 49.0 53.4 53.6 55.9 57.0 59.9
Growth 2.3 % -10.5 % -7.8 % -9.7 % 16.9 % 6.4 % 9.1 % 0.2 % 4.3 % 2.0 % 5.0 %
Source: Statzon from United Nations
Liquefied propane
Table 6 Demand for liquefied propane in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 51.7 52.9 47.3 43.6 39.4 46.0 49.0 53.4 53.6 55.9 57.0 59.9
Growth 2.3 % -10.5 % -7.8 % -9.7 % 16.9 % 6.4 % 9.1 % 0.2 % 4.3 % 2.0 % 5.0 %
Source: Statzon from United Nations

Graph 5 Demand for liquefied propane in Colombia, 2011-2022 (US dollars)


70.0

60.0

50.0
Millions of dollars

40.0

30.0

20.0

10.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Liquefied butylene, butadiene, ethylene and propylene


Table 7 Demand for liquefied butylene, butadiene, ethylene and propylene in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 0.0 0.0 0.1 0.1 -0.1
11 - 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Growth 32.6 % 96.8 % 11.0 % 43.7 % -8.3 % 14.3 % -15.3 % 13.3 % 13.4 % 7.9 % 8.0 %
Source: Statzon from United Nations
Liquefied butylene, butadiene, ethylene and propylene
Table 7 Demand for liquefied butylene, butadiene, ethylene and propylene in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Growth 32.6 % 96.8 % 11.0 % 43.7 % -8.3 % 14.3 % -15.3 % 13.3 % 13.4 % 7.9 % 8.0 %
Source: Statzon from United Nations

Graph 6 Demand for liquefied butylene, butadiene, ethylene and propylene in Colombia, 2011-2022 (US dollars)
0.1

0.1

0.1
Millions of dollars

0.1

0.1

0.0

0.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Other liquefied petroleum gases and gaseous hydrocarbons


Table 8 Demand for other liquefied petroleum gases and gaseous hydrocarbons in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 1.7 2.2 2.5 3.2 -3.0
12 - 3.7 2.9 2.8 2.7 3.2 3.7 3.8
Growth 28.2 % 10.2 % 31.1 % -6.8 % 22.5 % -21.6 % -2.0 % -2.5 % 17.7 % 14.5 % 3.9 %
Source: Statzon from United Nations
Other liquefied petroleum gases and gaseous hydrocarbons
Table 8 Demand for other liquefied petroleum gases and gaseous hydrocarbons in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 1.7 2.2 2.5 3.2 3.0 3.7 2.9 2.8 2.7 3.2 3.7 3.8
Growth 28.2 % 10.2 % 31.1 % -6.8 % 22.5 % -21.6 % -2.0 % -2.5 % 17.7 % 14.5 % 3.9 %
Source: Statzon from United Nations

Graph 7 Demand for other liquefied petroleum gases and gaseous hydrocarbons in Colombia, 2011-2022 (US dollars)
4.5

4.0

3.5

3.0
Millions of dollars

2.5

2.0

1.5

1.0

0.5

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Other petroleum gases and gaseous hydrocarbons


Table 9 Demand for other petroleum gases and gaseous hydrocarbons in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 0.9 0.8 0.9 1.1 -1.2
13 - 1.4 1.4 1.4 1.4 1.5 1.6 1.7
Growth -14.9 % 13.3 % 26.0 % 10.2 % 18.7 % 0.3 % -3.8 % 1.8 % 8.6 % 7.5 % 6.7 %
Source: Statzon from United Nations
Other petroleum gases and gaseous hydrocarbons
Table 9 Demand for other petroleum gases and gaseous hydrocarbons in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 0.9 0.8 0.9 1.1 1.2 1.4 1.4 1.4 1.4 1.5 1.6 1.7
Growth -14.9 % 13.3 % 26.0 % 10.2 % 18.7 % 0.3 % -3.8 % 1.8 % 8.6 % 7.5 % 6.7 %
Source: Statzon from United Nations

Graph 8 Demand for other petroleum gases and gaseous hydrocarbons in Colombia, 2011-2022 (US dollars)
2.0

1.8

1.6

1.4
Millions of dollars

1.2

1.0

0.8

0.6

0.4

0.2

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Paraffin wax
Table 10 Demand for paraffin wax in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 20.7 20.7 23.0 22.1 23.3
- 14 - 26.6 28.0 29.0 29.1 31.6 33.3 35.3
Growth -0.3 % 11.2 % -3.8 % 5.4 % 14.1 % 5.4 % 3.5 % 0.2 % 8.7 % 5.5 % 5.8 %
Source: Statzon from United Nations
Paraffin wax
Table 10 Demand for paraffin wax in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 20.7 20.7 23.0 22.1 23.3 26.6 28.0 29.0 29.1 31.6 33.3 35.3
Growth -0.3 % 11.2 % -3.8 % 5.4 % 14.1 % 5.4 % 3.5 % 0.2 % 8.7 % 5.5 % 5.8 %
Source: Statzon from United Nations

Graph 9 Demand for paraffin wax in Colombia, 2011-2022 (US dollars)


40.0

35.0

30.0
Millions of dollars

25.0

20.0

15.0

10.0

5.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Petroleum jelly
Table 11 Demand for petroleum jelly in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 8.9 8.8 8.7 8.6 -8.9
15 - 10.2 10.9 10.7 10.9 11.8 12.3 13.0
Growth -0.6 % -1.3 % -1.7 % 4.3 % 14.3 % 6.8 % -1.5 % 2.1 % 7.5 % 4.9 % 5.1 %
Source: Statzon from United Nations
Petroleum jelly
Table 11 Demand for petroleum jelly in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 8.9 8.8 8.7 8.6 8.9 10.2 10.9 10.7 10.9 11.8 12.3 13.0
Growth -0.6 % -1.3 % -1.7 % 4.3 % 14.3 % 6.8 % -1.5 % 2.1 % 7.5 % 4.9 % 5.1 %
Source: Statzon from United Nations

Graph 10 Demand for petroleum jelly in Colombia, 2011-2022 (US dollars)


14.0

12.0

10.0
Millions of dollars

8.0

6.0

4.0

2.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Other mineral waxes


Table 12 Demand for other mineral waxes in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 85.5 81.3 68.1 58.8 54.2
- 16 - 65.9 73.9 75.2 75.2 77.6 79.6 81.8
Growth -4.9 % -16.2 % -13.7 % -7.8 % 21.7 % 12.1 % 1.7 % 0.0 % 3.1 % 2.6 % 2.8 %
Source: Statzon from United Nations
Other mineral waxes
Table 12 Demand for other mineral waxes in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 85.5 81.3 68.1 58.8 54.2 65.9 73.9 75.2 75.2 77.6 79.6 81.8
Growth -4.9 % -16.2 % -13.7 % -7.8 % 21.7 % 12.1 % 1.7 % 0.0 % 3.1 % 2.6 % 2.8 %
Source: Statzon from United Nations

Graph 11 Demand for other mineral waxes in Colombia, 2011-2022 (US dollars)
90.0

80.0

70.0

60.0
Millions of dollars

50.0

40.0

30.0

20.0

10.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Calcined petroleum coke


Table 13 Demand for calcined petroleum coke in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 2.7 3.4 4.3 4.1 -4.2
17 - 4.1 4.5 4.6 5.0 5.5 5.8 6.1
Growth 27.1 % 26.0 % -3.6 % 2.2 % -3.0 % 9.7 % 3.5 % 8.9 % 8.9 % 5.5 % 5.8 %
Source: Statzon from United Nations
Calcined petroleum coke
Table 13 Demand for calcined petroleum coke in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 2.7 3.4 4.3 4.1 4.2 4.1 4.5 4.6 5.0 5.5 5.8 6.1
Growth 27.1 % 26.0 % -3.6 % 2.2 % -3.0 % 9.7 % 3.5 % 8.9 % 8.9 % 5.5 % 5.8 %
Source: Statzon from United Nations

Graph 12 Demand for calcined petroleum coke in Colombia, 2011-2022 (US dollars)
7.0

6.0

5.0
Millions of dollars

4.0

3.0

2.0

1.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Not calcined petroleum coke


Table 14 Demand for not calcined petroleum coke in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 0.1 0.1 0.1 0.2 -0.2
18 - 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Growth 14.3 % 21.4 % 6.5 % 5.8 % 16.9 % 2.7 % -1.5 % 0.8 % 8.8 % 5.7 % 6.1 %
Source: Statzon from United Nations
Not calcined petroleum coke
Table 14 Demand for not calcined petroleum coke in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Growth 14.3 % 21.4 % 6.5 % 5.8 % 16.9 % 2.7 % -1.5 % 0.8 % 8.8 % 5.7 % 6.1 %
Source: Statzon from United Nations

Graph 13 Demand for not calcined petroleum coke in Colombia, 2011-2022 (US dollars)
0.3

0.3

0.2
Millions of dollars

0.2

0.1

0.1

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Petroleum bitumen
Table 15 Demand for petroleum bitumen in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 13.5 6.9 1.3 0.7 -1.4
19 - 3.0 3.9 4.5 4.6 5.0 5.3 5.6
Growth -49.1 % -81.2 % -49.5 % 106.1 % 123.5 % 27.9 % 17.3 % 0.8 % 8.8 % 5.7 % 6.1 %
Source: Statzon from United Nations
Petroleum bitumen
Table 15 Demand for petroleum bitumen in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 13.5 6.9 1.3 0.7 1.4 3.0 3.9 4.5 4.6 5.0 5.3 5.6
Growth -49.1 % -81.2 % -49.5 % 106.1 % 123.5 % 27.9 % 17.3 % 0.8 % 8.8 % 5.7 % 6.1 %
Source: Statzon from United Nations

Graph 14 Demand for petroleum bitumen in Colombia, 2011-2022 (US dollars)


16.0

14.0

12.0
Millions of dollars

10.0

8.0

6.0

4.0

2.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

Other residues of petroleum oils


Table 16 Demand for other residues of petroleum oils in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 0.0 0.0 0.0 0.0 -0.0
20 - 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth 65.4 % 26.0 % 63.5 % -15.5 % 10.0 % -28.1 % -0.1 % 17.7 % 13.7 % 8.5 % 5.8 %
Source: Statzon from United Nations
Other residues of petroleum oils
Table 16 Demand for other residues of petroleum oils in Colombia, 2011-2022 (US dollars)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions of dollars 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth 65.4 % 26.0 % 63.5 % -15.5 % 10.0 % -28.1 % -0.1 % 17.7 % 13.7 % 8.5 % 5.8 %
Source: Statzon from United Nations

Graph 15 Demand for other residues of petroleum oils in Colombia, 2011-2022 (US dollars)
0.1

0.0

0.0

0.0
Millions of dollars

0.0

0.0

0.0

0.0

0.0

0.0

0.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: Statzon from United Nations

- 21 -
2. Definition
The market data includes liquid or gaseous fuels or other products from crude petroleum, bituminous minerals or their
fractionation products, motor fuel (gasoline, kerosene etc.), other fuels (light, medium and heavy fuel oil), refinery gases
(ethane, propane, butane etc.), oil-based lubricating oils or greases (including from waste oil), products for the petrochemical
industry and for road coverings, white spirit, vaseline, paraffin wax, petroleum jelly etc. In this industry report, the market
data is divided into the following product groups:

- Petroleum oils and bituminous mineral oils (excluding crude): special boiling point spirits (other than benzene, toluol),
natural gasoline liquid, other light oils and preparations, superior kerosene oil, aviation turbine fuel, high speed diesel, light
diesel oil, fuel oil, base oil, jute batching oil and textile oil, lubricating oil
- Liquefied butanes
- Liquefied propane
- Liquefied butylene, butadiene, ethylene and propylene
- Other liquefied petroleum gases and gaseous hydrocarbons
- Other petroleum gases and gaseous hydrocarbons
- Paraffin wax
- Petroleum jelly
- Other mineral waxes: micro-crystalline petroleum wax, lignite wax, slack wax, other mineral waxes
- Calcined petroleum coke
- Not calcined petroleum coke
- Petroleum bitumen
- Other residues of petroleum oils

- 22 -
3. Methodology and Sources

The Global Research & Data Services industry reports are created using the standard methodology of GRDS that has been
tested and constantly developed since the early 1990s. It includes utilizing, analyzing, and combining a wide range of national
and international sources and in-house analysis. The GRDS research process comprises the following stages:

1. The first stage of the research process is a definition of the industry and products to be included in the research. The
utilization of standard international classifications and similar data definitions for each country ensures full comparability
between different countries, industries, and product lines.

2. Next, the research shifts focus to data collection. The market information for the top-down research is collected from a
number of relevant national and international sources like:

National statistical offices


OECD
IMF
United Nations
Eurostat
Industry associations
Different sources of macro-economic information
Company databases

Production data is collected from national statistical offices, the OECD, Eurostat, the United Nations, or industry associations
while trade data is collected from the United Nations. Macro-economic data used for analysis and forecasts are collected
from IMF or other relevant sources of macro-economic data. Information about market players is collected from company
databases.

3. After the data collection, all the information is analyzed, aggregated, verified, and aligned into our standard format. Any
outliers, missing values or breaks in the original data are detected and adjusted to a standard format that allows a complete
comparison between different countries, industries, and products.

The overall demand value for the market is calculated with the following formula:

- 23 -
Demand = domestic produced products + imported products – exported products

The products’ market prices are estimated based on their trade prices. The market volumes are estimated based on the
market values and product prices.

The demand for different product types is estimated based on their trade data compared to the overall market’s production
and trade figures. This approach for estimating the demand has been tested and developed over the years to ensure the
most accurate estimates of a product’s demand.

Forecast market figures are always done by GRDS's analyst. The forecasting model takes into account historical market
trends for the product in question as well as historical and forecast trends in different macro-economic indicators like import
and export of goods, GDP, unemployment rate, population or inflation rate, and analysts’ knowledge of the market situation
and trends.

The market figures are valued at manufacturers’ prices and are given at current prices.

4. The final stage of the research process is the publication of the final industry reports. The final outcome of the GRDS
research process is the most up-to-date and reliable industry data in a readily accessible and clearly presented format which
helps you gain a much clearer perspective on the actual market situation, trends, and future outlook for different industries.

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4. About Global Research & Data Services

Global Research & Data Services is one of the leading sources of global industry information. Since 1992, the company’s
strong expertise has helped thousands of companies from more than 70 countries around the world to identify new
business opportunities with our key market trends and analysis.
The GRDS advantage rests in the diverse range of industries and countries covered. Every year, the company publishes more
than 10,000 industry reports from over 100 industries and 100 countries. This extremely comprehensive coverage is made
possible by an experienced team of industry experts and specialists. The company’s expertise and advanced methodology
enable the publication of standard format industry reports which allow for easy benchmarking of different countries and
product segments against each other.

Our company can provide that difficult-to-find market data from industries and countries that most market research
publishers do not cover. The main industries currently covered include, among others: automotive, aerospace and
transportation, chemicals, sports goods, footwear and textiles, consumer goods, electronics, fertilizers, food and beverages,
furniture and furnishing, machinery and equipment, medical devices, metals, non-metallic minerals, optical goods,
packaging, plastics and rubber, pharmaceutical, tobacco and wood.

By providing the most up-to-date market data in the industry reports, we help you gain a much clearer perspective on the
actual market situation, trends, and future outlook for different industries.

The industry reports offer an invaluable resource for industry executives; marketing, sales and product managers;
consultants; analysts; and other industry experts looking for reliable industry data in a readily accessible and clearly
presented format. The reports represent critical tools for any private or public sector decision-makers looking to evaluate
the market potential and competitive situation in a given industry and country.

You can find all the currently available market reports from

www.grdsreports.com

You can also order the reports or ask for more information by contacting:

service@grdsreports.com
+358 440 543 230

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