Colombia: Metal Chain Market 2025

Metal Chain Market Size in Colombia

The Colombian metal chain market reached $X in 2022, growing by 11% 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, recorded a slight shrinkage. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Chain Exports

Exports from Colombia

After two years of growth, overseas shipments of iron or steel chain decreased by -41.5% to X tons in 2022. Overall, exports showed a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 968% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, metal chain exports declined remarkably to $X in 2022. In general, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 1,266% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Venezuela (X kg) was the main destination for metal chain exports from Colombia, with a 43% share of total exports. Moreover, metal chain exports to Venezuela exceeded the volume sent to the second major destination, Ecuador (X kg), twofold. The third position in this ranking was held by Mexico (X kg), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Venezuela amounted to -17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+13.9% per year) and Mexico (+0.0% per year).

In value terms, Ecuador ($X) remains the key foreign market for iron or steel chain exports from Colombia, comprising 46% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with an 11% share of total exports. It was followed by Venezuela, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Ecuador stood at +20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+24.5% per year) and Venezuela (-26.6% per year).

Export Prices by Country

In 2022, the average metal chain export price amounted to $X per ton, declining by -1.7% against the previous year. In general, the export price, however, recorded a tangible increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 77% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank modestly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Venezuela ($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 Nicaragua (+309.8%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Chain Imports

Imports into Colombia

In 2022, the amount of iron or steel chain imported into Colombia soared to X tons, jumping by 20% against 2021. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 77% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, metal chain imports rose slightly to $X in 2022. Over the period under review, imports, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2017 with an increase of 30% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal chain supplier to Colombia, accounting for a 84% share of total imports. Moreover, metal chain imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold. The third position in this ranking was taken by Mexico (X tons), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.3% per year) and Mexico (+95.6% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel chain to Colombia, comprising 50% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 14% share of total imports. It was followed by the United States, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+10.3% per year) and the United States (-10.7% per year).

Import Prices by Country

In 2022, the average metal chain import price amounted to $X per ton, waning by -12.8% against the previous year. In general, the import price saw a perceptible decrease. The pace of growth was the most pronounced in 2018 an increase of 66% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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