Colombia: Market for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators 2024

Market Size for Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators in Colombia

The Colombian nickel and lithium accumulators market skyrocketed to $X in 2022, with an increase of 52% 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). In general, consumption saw buoyant growth. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Exports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Exports from Colombia

Nickel and lithium accumulators exports from Colombia reduced sharply to X units in 2022, with a decrease of -23% compared with the previous year. Overall, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 214%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, nickel and lithium accumulators exports reduced to $X in 2022. In general, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 192% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X units) was the main destination for nickel and lithium accumulators exports from Colombia, with a 46% share of total exports. Moreover, nickel and lithium accumulators exports to Venezuela exceeded the volume sent to the second major destination, Ecuador (X units), twofold. Peru (X units) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume to Venezuela totaled +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+57.5% per year) and Peru (+43.7% per year).

In value terms, the largest markets for nickel and lithium accumulators exported from Colombia were Peru ($X), Chile ($X) and Ecuador ($X), together comprising 53% of total exports. The United States, Venezuela, Panama, Belgium, Mexico and Guatemala lagged somewhat behind, together comprising a further 38%.

In terms of the main countries of destination, Guatemala, with a CAGR of +70.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average nickel and lithium accumulators export price amounted to $X per unit, increasing by 22% against the previous year. In general, the export price continues to indicate a buoyant expansion. The growth pace was the most rapid in 2021 an increase of 174% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Venezuela ($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 Belgium (+126.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nickel-Cadmium, Nickel Metal Hydride, Lithium-Ion, Lithium Polymer And Nickel-Iron Accumulators

Imports into Colombia

In 2022, approx. X units of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators were imported into Colombia; rising by 56% on the previous year's figure. Over the period under review, imports continue to indicate a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, nickel and lithium accumulators imports soared to $X in 2022. Overall, imports recorded a prominent increase. The growth pace was the most rapid in 2019 when imports increased by 73%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of nickel and lithium accumulators to Colombia, accounting for a 65% share of total imports. Moreover, nickel and lithium accumulators imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. Malaysia (X units) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +18.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.4% per year) and Malaysia (-0.8% per year).

In value terms, China ($X) constituted the largest supplier of nickel-cadmium, nickel metal hydride, lithium-ion, lithium polymer and nickel-iron accumulators to Colombia, comprising 78% of total imports. The second position in the ranking was held by the United States ($X), with a 5.8% share of total imports. It was followed by Malaysia, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.7% per year) and Malaysia (+5.5% per year).

Import Prices by Country

In 2022, the average nickel and lithium accumulators import price amounted to $X per unit, dropping by -3.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2019 when the average import price increased by 22%. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+23.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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