Colombia: Check Valve Market 2024

Check Valve Market Size in Colombia

The Colombian check valve market surged to $X in 2021, increasing by 16% 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, consumption, however, saw a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Check Valve Exports

Exports from Colombia

In 2021, shipments abroad of check valves for pipes, boiler shells, tanks and vats increased by 28% to X units, rising for the third year in a row after two years of decline. Overall, exports recorded a strong increase. The growth pace was the most rapid in 2016 with an increase of 133% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, check valve exports surged to $X in 2021. Over the period under review, exports posted a strong expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 124% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Ecuador (X units), Mexico (X units) and Canada (X units) were the main destinations of check valve exports from Colombia, together accounting for 61% of total exports. Guatemala, Jamaica, Peru, the United States and Egypt lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jamaica (with a CAGR of +185,333.3%), while the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X) emerged as the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from Colombia, comprising 49% of total exports. The second position in the ranking was held by Mexico ($X), with a 12% share of total exports. It was followed by Guatemala, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value to Ecuador totaled +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+3.6% per year) and Guatemala (+27.3% per year).

Export Prices by Country

The average check valve export price stood at $X per unit in 2021, surging by 8% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 40%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Ecuador ($X per unit), while the average price for exports to Canada ($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 Ecuador (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Check Valve Imports

Imports into Colombia

In 2021, check valve imports into Colombia expanded rapidly to X units, surging by 14% against 2020. Over the period under review, imports, however, showed a deep reduction. The pace of growth was the most pronounced in 2017 when imports increased by 124%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, check valve imports soared to $X in 2021. In general, imports, however, saw a noticeable setback. The pace of growth was the most pronounced in 2017 when imports increased by 113% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest check valve supplier to Colombia, with a 72% share of total imports. Moreover, check valve imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), eightfold. Mexico (X units) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.3% per year) and Mexico (-15.4% per year).

In value terms, the largest check valve suppliers to Colombia were China ($X), the United States ($X) and Germany ($X), together accounting for 72% of total imports.

In terms of the main suppliers, Germany, with a CAGR of +14.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average check valve import price stood at $X per unit in 2021, increasing by 4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 11%. As a result, import price reached the peak level of $X per unit. From 2017 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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