Colombia: Lithium Battery Market 2024

Lithium Battery Market Size in Colombia

The Colombian lithium battery market surged to $X in 2021, increasing by 79% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Lithium Battery Exports

Exports from Colombia

Lithium battery exports from Colombia fell remarkably to X kg in 2021, reducing by -91% against 2020 figures. Over the period under review, exports faced a dramatic shrinkage. The growth pace was the most rapid in 2015 when exports increased by 288%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, lithium battery exports dropped significantly to $X in 2021. In general, exports faced a dramatic descent. The pace of growth appeared the most rapid in 2015 when exports increased by 388%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X kg), Ecuador (X kg) and Canada (X kg) were the main destinations of lithium battery exports from Colombia, together comprising 57% of total exports. These countries were followed by Guatemala, the Netherlands, Mexico, Germany, Malaysia, the United Arab Emirates, Paraguay, Trinidad and Tobago, Chile and Bolivia, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +20.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lithium battery exported from Colombia were Ecuador ($X), the United Arab Emirates ($X) and Canada ($X), together accounting for 44% of total exports. Mexico, the Netherlands, the United States, Trinidad and Tobago, Paraguay, Malaysia, Guatemala, Chile, Germany and Bolivia lagged somewhat behind, together accounting for a further 34%.

Mexico, with a CAGR of +66.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lithium battery export price amounted to $X per ton, with a decrease of -7.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 78% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Trinidad and Tobago (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium Battery Imports

Imports into Colombia

In 2021, approx. X tons of lithium cells ans batteries were imported into Colombia; picking up by 104% compared with 2020 figures. In general, imports enjoyed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lithium battery imports skyrocketed to $X in 2021. Overall, imports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 52%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of lithium battery to Colombia, with a 76% share of total imports. Moreover, lithium battery imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The third position in this ranking was held by the United States (X tons), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+8.7% per year) and the United States (-10.6% per year).

In value terms, the largest lithium battery suppliers to Colombia were China ($X), the United States ($X) and Japan ($X), with a combined 63% share of total imports. These countries were followed by Singapore and Indonesia, which together accounted for a further 4.7%.

Singapore, with a CAGR of +14.7%, saw 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 more modest paces of growth.

Import Prices by Country

The average lithium battery import price stood at $X per ton in 2021, declining by -27.1% against the previous year. Overall, the import price showed a deep reduction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 28% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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