Colombia: Pressure-Reducing Iron Valve Market 2023

Pressure-Reducing Iron Valve Market Size in Colombia

The Colombian pressure-reducing iron valve market dropped to $X in 2021, which is down by -12.9% 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). In general, consumption recorded a pronounced setback. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Pressure-Reducing Iron Valve Exports

Exports from Colombia

In 2021, exports of pressure-reducing, control, check and safety valves from Colombia skyrocketed to X units, with an increase of 83% against 2020. Overall, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, pressure-reducing iron valve exports surged to $X in 2021. In general, exports posted a slight expansion. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X units) was the main destination for pressure-reducing iron valve exports from Colombia, with a 77% share of total exports. Moreover, pressure-reducing iron valve exports to Peru exceeded the volume sent to the second major destination, Mexico (X units), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Peru totaled +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-9.1% per year) and the United States (+4.2% per year).

In value terms, Peru ($X) remains the key foreign market for pressure-reducing iron valve exports from Colombia, comprising 72% of total exports. The second position in the ranking was held by Mexico ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Peru stood at +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-10.3% per year) and the United States (-5.8% per year).

Export Prices by Country

In 2021, the average pressure-reducing iron valve export price amounted to $X per unit, which is down by -4.4% against the previous year. Overall, the export price recorded a perceptible contraction. The growth pace was the most rapid in 2014 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was Mexico ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (-1.3%), while the prices for the other major destinations experienced a decline.

Pressure-Reducing Iron Valve Imports

Imports into Colombia

In 2021, the amount of pressure-reducing, control, check and safety valves imported into Colombia rose sharply to X units, growing by 6.8% against the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 41%. Imports peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, pressure-reducing iron valve imports contracted modestly to $X in 2021. In general, imports, however, continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 55% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of pressure-reducing iron valve to Colombia, with a 54% share of total imports. Moreover, pressure-reducing iron valve imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Italy (X units) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.2% per year) and Italy (+5.8% per year).

In value terms, the United States ($X) constituted the largest supplier of pressure-reducing iron valve to Colombia, comprising 29% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Italy, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.3% per year) and Italy (+10.1% per year).

Import Prices by Country

In 2021, the average pressure-reducing iron valve import price amounted to $X per unit, declining by -9% against the previous year. Over the period under review, the import price continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2014 when the average import price increased by 12%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Mexico ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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