Colombia: Metal Rivet Market 2024

Metal Rivet Market Size in Colombia

The Colombian metal rivet market fell to $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, the market reached the peak level at $X in 2021, and then reduced modestly in the following year.

Metal Rivet Production in Colombia

In value terms, metal rivet production declined modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 16% against the previous year. Metal rivet production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Metal Rivet Exports

Exports from Colombia

In 2022, approx. X tons of iron or steel rivets were exported from Colombia; dropping by -14.6% compared with the previous year's figure. Over the period under review, exports saw a perceptible contraction. The pace of growth appeared the most rapid in 2021 with an increase of 17%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal rivet exports dropped to $X in 2022. Overall, exports showed a perceptible slump. The most prominent rate of growth was recorded in 2018 with an increase of 28%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X tons), Ecuador (X tons) and El Salvador (X tons) were the main destinations of metal rivet exports from Colombia, together accounting for 75% of total exports. Cuba, Panama, Costa Rica, Chile and Venezuela lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for Cuba (with a CAGR of +50.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Ecuador ($X) and El Salvador ($X) were the largest markets for metal rivet exported from Colombia worldwide, together comprising 80% of total exports.

El Salvador, with a CAGR of +8.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average metal rivet export price stood at $X per ton in 2022, increasing by 7.9% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 16% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Cuba ($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 Chile (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Rivet Imports

Imports into Colombia

In 2022, overseas purchases of iron or steel rivets decreased by -5.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.9% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 104% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, metal rivet imports contracted to $X in 2022. In general, imports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2018 when imports increased by 148% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest metal rivet supplier to Colombia, with a 66% share of total imports. Moreover, metal rivet imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fivefold. Mexico (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-6.8% per year) and Mexico (+45.0% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel rivets to Colombia, comprising 54% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 13% 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 stood at +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+3.6% per year) and the United States (-10.5% per year).

Import Prices by Country

In 2022, the average metal rivet import price amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2013 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 ton in 2021, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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