Colombia: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in Colombia

The Colombian glass electrical insulator market shrank to $X in 2021, dropping by -14.5% against the previous year. Overall, consumption showed a mild curtailment. Glass electrical insulator consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Glass Electrical Insulator Production in Colombia

In value terms, glass electrical insulator production reduced to $X in 2021 estimated in export price. In general, production continues to indicate a mild slump. The growth pace was the most rapid in 2018 with an increase of 68% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Glass Electrical Insulator Exports

Exports from Colombia

For the fifth year in a row, Colombia recorded decline in overseas shipments of glass electrical insulators, which decreased by -38.7% to X units in 2021. Over the period under review, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 1,131%. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, glass electrical insulator exports declined markedly to $X in 2021. Overall, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 1,542%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil (X units), Costa Rica (X units) and Peru (X units) were the main destinations of glass electrical insulator exports from Colombia, with a combined 83% share of total exports. These countries were followed by Guatemala and Bolivia, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +91.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the key foreign market for glass electrical insulators exports from Colombia, comprising 53% of total exports. The second position in the ranking was held by Peru ($X), with a 13% share of total exports. It was followed by Guatemala, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value to Brazil stood at +24.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+12.0% per year) and Guatemala (+59.6% per year).

Export Prices by Country

The average glass electrical insulator export price stood at $X per unit in 2021, with an increase of 1.9% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 43% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Costa Rica ($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 Brazil (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Electrical Insulator Imports

Imports into Colombia

For the fourth year in a row, Colombia recorded decline in purchases abroad of glass electrical insulators, which decreased by -45.5% to X units in 2021. Over the period under review, imports, however, posted a measured increase. The growth pace was the most rapid in 2017 with an increase of 945% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, glass electrical insulator imports shrank markedly to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 702%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Italy (X units), Brazil (X units) and Russia (X units) were the main suppliers of glass electrical insulator imports to Colombia, with a combined 88% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +106.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Italy ($X) and Russia ($X) appeared to be the largest glass electrical insulator suppliers to Colombia, with a combined 90% share of total imports.

Italy, with a CAGR of +82.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average glass electrical insulator import price amounted to $X per unit, approximately mirroring the previous year. In general, the import price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 22% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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