Colombia: Steel Plaited Band Market 2024

Steel Plaited Band Market Size in Colombia

In 2022, the Colombian steel plaited band market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a deep contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Steel Plaited Band Exports

Exports from Colombia

In 2022, shipments abroad of iron or steel plaited bands and slings increased by X% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, exports recorded a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel plaited band exports soared to $X in 2022. In general, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Ecuador (X tons) was the main destination for steel plaited band exports from Colombia, accounting for a X% share of total exports. Moreover, steel plaited band exports to Ecuador exceeded the volume sent to the second major destination, Costa Rica (X tons), fourfold. Nicaragua (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Ecuador ($X) remains the key foreign market for iron or steel plaited bands and slings exports from Colombia, comprising X% of total exports. The second position in the ranking was held by Costa Rica ($X), with a X% share of total exports. It was followed by Nicaragua, with a X% share.

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

Export Prices by Country

In 2022, the average steel plaited band export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price, however, continues to indicate a slight reduction. The pace of growth was the most pronounced in 2018 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

Steel Plaited Band Imports

Imports into Colombia

In 2022, approx. X tons of iron or steel plaited bands and slings were imported into Colombia; with an increase of X% on 2021. In general, imports, however, saw a abrupt decrease. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, steel plaited band imports surged to $X in 2022. Overall, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel plaited band to Colombia, with a X% share of total imports. Moreover, steel plaited band imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X), the United States ($X) and Germany ($X) were the largest steel plaited band suppliers to Colombia, with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average steel plaited band import price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price 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. The pace of growth appeared the most rapid in 2017 an increase of X%. The import price peaked at $X per ton in 2021, and then reduced dramatically in the following year.

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 Canada ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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