Colombia: Aluminium Foil Market 2024

Aluminium Foil Market Size in Colombia

The Colombian aluminium foil market skyrocketed to $X in 2022, rising by 31% 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 tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +49.8% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Aluminium Foil Exports

Exports from Colombia

In 2022, the amount of aluminium foil exported from Colombia shrank markedly to X tons, reducing by -18.6% on 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 161%. As a result, the exports reached the peak of X tons, and then declined notably in the following year.

In value terms, aluminium foil exports dropped rapidly to $X in 2022. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 147%. As a result, the exports attained the peak of $X, and then fell remarkably in the following year.

Exports by Country

The United States (X tons), Panama (X tons) and Ecuador (X tons) were the main destinations of aluminium foil exports from Colombia, with a combined 65% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +91.6%), while the other leaders experienced more modest paces of growth.

In value terms, Panama ($X), the United States ($X) and Ecuador ($X) were the largest markets for aluminium foil exported from Colombia worldwide, with a combined 62% share of total exports.

The United States, with a CAGR of +91.7%, saw the highest rates of growth with regard to the value of exports, among 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 2022, the average aluminium foil export price amounted to $X per ton, with a decrease of -7.1% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 21% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to the United States ($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 Ecuador (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Foil Imports

Imports into Colombia

For the third consecutive year, Colombia recorded growth in supplies from abroad of aluminium foil, which increased by 16% to X tons in 2022. The total import volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, aluminium foil imports skyrocketed to $X in 2022. In general, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.2% against 2018 indices. The pace of growth was the most pronounced in 2021 when imports increased by 38% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of aluminium foil to Colombia, accounting for a 69% share of total imports. Moreover, aluminium foil imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sixfold. Italy (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+3.4% per year) and Italy (+10.0% per year).

In value terms, China ($X) constituted the largest supplier of aluminium foil to Colombia, comprising 56% of total imports. The second position in the ranking was held by Brazil ($X), with a 10% share of total imports. It was followed by Italy, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+3.4% per year) and Italy (+11.8% per year).

Import Prices by Country

In 2022, the average aluminium foil import price amounted to $X per ton, with an increase of 12% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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