Colombia: Market for Iron Or Steel Solid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Solid Fuel Domestic Appliances in Colombia

The Colombian metal solid fuel appliances market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, faced a deep reduction. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Exports of Iron Or Steel Solid Fuel Domestic Appliances

Exports from Colombia

In 2022, after three years of growth, there was significant decline in shipments abroad of iron or steel solid fuel domestic appliances, when their volume decreased by -34.5% to X units. Overall, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 306%. Over the period under review, the exports reached the maximum at X units in 2021, and then contracted rapidly in the following year.

In value terms, metal solid fuel appliances exports contracted remarkably to $X in 2022. Over the period under review, exports, however, showed a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 373% against the previous year. The exports peaked at $X in 2021, and then shrank sharply in the following year.

Exports by Country

The United States (X units), the Dominican Republic (X units) and Peru (X units) were the main destinations of metal solid fuel appliances exports from Colombia, with a combined 66% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of +39.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal solid fuel appliances exported from Colombia were the United States ($X), the Dominican Republic ($X) and Peru ($X), with a combined 69% share of total exports.

The Dominican Republic, with a CAGR of +81.6%, saw the highest growth rate of 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 solid fuel appliances export price stood at $X per unit in 2022, picking up by 13% against the previous year. Overall, the export price posted a prominent increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 86% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+30.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron Or Steel Solid Fuel Domestic Appliances

Imports into Colombia

After two years of decline, supplies from abroad of iron or steel solid fuel domestic appliances increased by 36% to X units in 2022. Overall, imports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2019 when imports increased by 529%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, metal solid fuel appliances imports surged to $X in 2022. In general, imports, however, faced a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of 676% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of metal solid fuel appliances to Colombia, with a 60% share of total imports. Moreover, metal solid fuel appliances imports from China exceeded the figures recorded by the second-largest supplier, Argentina (X units), tenfold. The third position in this ranking was held by Brazil (X units), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+41.0% per year) and Brazil (+36.2% per year).

In value terms, China ($X), Brazil ($X) and Chile ($X) appeared to be the largest metal solid fuel appliances suppliers to Colombia, together accounting for 37% of total imports. Argentina, Italy, the United States and Spain lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Argentina, with a CAGR of +35.1%, 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

In 2022, the average metal solid fuel appliances import price amounted to $X per unit, dropping by -9.1% against the previous year. Over the period under review, the import price, however, recorded strong growth. The most prominent rate of growth was recorded in 2014 an increase of 81%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+23.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :