Colombia: Market for Rubber-to-Metal and Moulded Articles 2024

Market Size for Rubber-to-Metal and Moulded Articles in Colombia

In 2021, the Colombian rubber-to-metal and moulded article market increased by 27% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Rubber-to-metal and moulded article consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Rubber-to-Metal and Moulded Articles

Exports from Colombia

In 2021, exports of rubber-to-metal and moulded articles from Colombia surged to X tons, growing by 58% on the previous year's figure. Over the period under review, exports saw mild growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rubber-to-metal and moulded article exports surged to $X in 2021. In general, total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +94.9% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Ecuador (X tons), the United States (X tons) and Aruba (X tons) were the main destinations of rubber-to-metal and moulded article exports from Colombia, with a combined 70% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +50.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rubber-to-metal and moulded article exported from Colombia were the United States ($X), Ecuador ($X) and Guatemala ($X), with a combined 67% share of total exports.

The United States, with a CAGR of +38.8%, saw the highest growth rate of the value of exports, in terms of 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 rubber-to-metal and moulded article export price stood at $X per ton in 2021, dropping by -3.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2020 an increase of 15%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the 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 Guatemala ($X per ton), while the average price for exports to Mexico ($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 Venezuela (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rubber-to-Metal and Moulded Articles

Imports into Colombia

After two years of decline, purchases abroad of rubber-to-metal and moulded articles increased by 31% to X tons in 2021. In general, imports showed a relatively flat trend pattern. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, rubber-to-metal and moulded article imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest rubber-to-metal and moulded article supplier to Colombia, accounting for a 48% share of total imports. Moreover, rubber-to-metal and moulded article imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sixfold. The United States (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+8.7% per year) and the United States (-10.1% per year).

In value terms, China ($X), the United States ($X) and Brazil ($X) constituted the largest rubber-to-metal and moulded article suppliers to Colombia, with a combined 58% share of total imports. Mexico, Germany, India, Japan, France, Italy, Spain, Taiwan (Chinese), Turkey and Romania lagged somewhat behind, together accounting for a further 30%.

Romania, with a CAGR of +46.6%, saw the highest growth rate of the value of imports, among the main suppliers 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 rubber-to-metal and moulded article import price amounted to $X per ton, remaining stable against the previous year. Over the last nine years, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2016 when the average import price increased by 27% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 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 Japan ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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