Colombia: Metal Self-Locking Nut Market 2025

Metal Self-Locking Nut Market Size in Colombia

The Colombian metal self-locking nut market soared to $X in 2021, increasing by 47% 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). In general, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.5% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Metal Self-Locking Nut Exports

Exports from Colombia

In 2021, the amount of iron or steel nuts (including self-locking nuts) exported from Colombia skyrocketed to X tons, rising by 74% compared with the previous year's figure. Overall, exports, however, continue to indicate a mild slump. The growth pace was the most rapid in 2015 with an increase of 230% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, metal self-locking nut exports surged to $X in 2021. Over the period under review, exports showed modest growth. The most prominent rate of growth was recorded in 2015 with an increase of 107%. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Peru (X tons) was the main destination for metal self-locking nut exports from Colombia, with a 61% share of total exports. Moreover, metal self-locking nut exports to Peru exceeded the volume sent to the second major destination, Costa Rica (X tons), threefold. Ecuador (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to Peru amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+0.7% per year) and Ecuador (+0.4% per year).

In value terms, Peru ($X) emerged as the key foreign market for iron or steel nuts (including self-locking nuts) exports from Colombia, comprising 56% of total exports. The second position in the ranking was held by Ecuador ($X), with a 13% share of total exports. It was followed by Costa Rica, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to Peru was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+8.6% per year) and Costa Rica (-3.7% per year).

Export Prices by Country

The average metal self-locking nut export price stood at $X per ton in 2021, declining by -1.5% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal self-locking nut export price increased by +11.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 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. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Self-Locking Nut Imports

Imports into Colombia

Metal self-locking nut imports into Colombia soared to X tons in 2021, picking up by 46% against 2020 figures. Overall, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +23.3% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal self-locking nut imports surged to $X in 2021. Over the period under review, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +30.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 49% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, China (X tons) was the main supplier of metal self-locking nut to Colombia, with a 92% share of total imports. It was followed by Taiwan (Chinese) (X tons), with a 1.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +4.2%.

In value terms, China ($X) constituted the largest supplier of iron or steel nuts (including self-locking nuts) to Colombia, comprising 59% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 5.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +4.1%.

Import Prices by Country

In 2021, the average metal self-locking nut import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, recorded a slight reduction. The growth pace was the most rapid in 2018 an increase of 13%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat 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 Taiwan (Chinese) ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.8%).

Source: IndexBox Platform

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