Colombia: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Colombia

The Colombian iron or steel leaf-spring market fell slightly to $X in 2022, remaining stable against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Iron or steel leaf-spring consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Leaf-Springs and Leaves in Colombia

In value terms, iron or steel leaf-spring production rose slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 27%. Iron or steel leaf-spring production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Colombia

In 2022, approx. X tons of iron or steel leaf-springs and leaves were exported from Colombia; with a decrease of -13.6% on 2021. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 38% against the previous year. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, iron or steel leaf-spring exports dropped rapidly to $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 52%. As a result, the exports attained the peak of $X, and then shrank rapidly in the following year.

Exports by Country

Peru (X tons), Ecuador (X tons) and the United States (X tons) were the main destinations of iron or steel leaf-spring exports from Colombia, together comprising 66% of total exports. Brazil, Guatemala, Costa Rica, Chile, Panama, the Dominican Republic and Portugal lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +44.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel leaf-spring exported from Colombia were Peru ($X), the United States ($X) and Ecuador ($X), with a combined 65% share of total exports. Brazil, Guatemala, Chile, Costa Rica, Panama, the Dominican Republic and Portugal lagged somewhat behind, together accounting for a further 31%.

Among the main countries of destination, Guatemala, with a CAGR of +44.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iron or steel leaf-spring export price stood at $X per ton in 2022, reducing by -4.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 11% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Dominican Republic ($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 the United States (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Colombia

After two years of growth, overseas purchases of iron or steel leaf-springs and leaves decreased by -53.4% to X tons in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 248% against the previous year. As a result, imports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, iron or steel leaf-spring imports reduced remarkably to $X in 2022. In general, imports continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2021 with an increase of 98%. As a result, imports reached the peak of $X, and then dropped markedly in the following year.

Imports by Country

Malaysia (X tons), Mexico (X tons) and Peru (X tons) were the main suppliers of iron or steel leaf-spring imports to Colombia, with a combined 67% share of total imports. China, Brazil, India, Venezuela, the United States and Vietnam lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Venezuela (with a CAGR of +35.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel leaf-spring suppliers to Colombia were Mexico ($X), Malaysia ($X) and the United States ($X), together comprising 45% of total imports. China, Brazil, India, Venezuela, Peru and Vietnam lagged somewhat behind, together accounting for a further 36%.

In terms of the main suppliers, Venezuela, with a CAGR of +29.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron or steel leaf-spring import price stood at $X per ton in 2022, growing by 61% against the previous year. Over the period under review, the import price, however, recorded a slight decline. The most prominent rate of growth was recorded in 2016 an increase of 68%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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