Colombia: Metal Wool Market 2025

Metal Wool Market Size in Colombia

The Colombian metal wool market expanded rapidly to $X in 2022, picking up by 6.1% 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). Overall, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.7% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Metal Wool Exports

Exports from Colombia

In 2022, the amount of iron or steel wool exported from Colombia was estimated at X tons, rising by 12% on the previous year's figure. Over the period under review, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 67% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal wool exports reduced to $X in 2022. Overall, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2020 when exports increased by 52%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for metal wool exports from Colombia, with a 42% share of total exports. Moreover, metal wool exports to Ecuador exceeded the volume sent to the second major destination, the Dominican Republic (X tons), twofold. The third position in this ranking was taken by Suriname (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador totaled +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-14.5% per year) and Suriname (-12.7% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for iron or steel wool exports from Colombia, comprising 49% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 19% share of total exports. It was followed by Panama, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Dominican Republic stood at -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-5.0% per year) and Panama (+14.5% per year).

Export Prices by Country

The average metal wool export price stood at $X per ton in 2022, declining by -18.4% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by 47%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Suriname ($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 Dominican Republic (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Wool Imports

Imports into Colombia

Metal wool imports into Colombia reduced to X tons in 2022, approximately equating the previous year. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 -4.1% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 40%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, metal wool imports reached $X in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.0% 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 -7.9% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 49% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal wool to Colombia, accounting for a 90% share of total imports. It was followed by Argentina (X tons), with a 2.6% share of total imports. Spain (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+7.7% per year) and Spain (+8.9% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wool to Colombia, comprising 88% of total imports. The second position in the ranking was taken by Argentina ($X), with a 3.8% share of total imports. It was followed by Spain, with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+9.6% per year) and Spain (+8.5% per year).

Import Prices by Country

The average metal wool import price stood at $X per ton in 2022, with an increase of 9.6% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal wool import price decreased by -4.0% against 2020 indices. The growth pace was the most rapid in 2015 an increase of 53% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 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 Argentina ($X per ton), while the price for Ecuador ($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 (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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