Colombia: Electroplating Machine Market 2024

Electroplating Machine Market Size in Colombia

The Colombian electroplating machine market shrank remarkably to $X in 2021, with a decrease of -41% 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). Over the period under review, consumption saw a slight contraction. Electroplating machine consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Electroplating Machine Exports

Exports from Colombia

In 2021, approx. X units of machines for electroplating, electrolysis or electrophoresis were exported from Colombia; with an increase of 94% compared with the previous year's figure. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 579% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, electroplating machine exports surged to $X in 2021. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 576% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Panama (X units) was the main destination for electroplating machine exports from Colombia, with a 48% share of total exports. Moreover, electroplating machine exports to Panama exceeded the volume sent to the second major destination, the United States (X units), threefold. Sweden (X units) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Panama totaled +44.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+39.5% per year) and Sweden (0.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for electroplating machine exports from Colombia, comprising 61% of total exports. The second position in the ranking was taken by Peru ($X), with a 23% share of total exports. It was followed by Panama, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +50.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+54.3% per year) and Panama (+37.5% per year).

Export Prices by Country

The average electroplating machine export price stood at $X per unit in 2021, increasing by 29% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 98%. Over the period under review, the average export prices reached the maximum at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+8.9%), while the prices for the other major destinations experienced a decline.

Electroplating Machine Imports

Imports into Colombia

In 2021, the amount of machines for electroplating, electrolysis or electrophoresis imported into Colombia dropped notably to X units, reducing by -21% compared with 2020. Over the period under review, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 416% against the previous year. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, electroplating machine imports surged to $X in 2021. Overall, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 201%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units), China (X units) and Canada (X units) were the main suppliers of electroplating machine imports to Colombia, with a combined 57% share of total imports. These countries were followed by Brazil, Spain, Germany and Italy, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +49.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest electroplating machine suppliers to Colombia were Brazil ($X), the United States ($X) and China ($X), together comprising 59% of total imports.

In terms of the main suppliers, Brazil, with a CAGR of +94.4%, saw the highest growth rate of 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 2021, the average electroplating machine import price amounted to $X per unit, picking up by 64% against the previous year. Overall, the import price saw perceptible growth. The most prominent rate of growth was recorded in 2014 an increase of 185% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Brazil ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+46.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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