Report Update Feb 1, 2025

Colombia - Pig Iron and Spiegeleisen - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Pig Iron Market 2022

Pig Iron Market Size in Colombia

In 2021, the Colombian pig iron market was finally on the rise to reach $X for the first time since 2015, thus ending a five-year declining trend. Over the period under review, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Pig Iron Production in Colombia

In value terms, pig iron production reached $X in 2021 estimated in export price. Overall, production, however, showed a slight reduction. The pace of growth was the most pronounced in 2017 with an increase of 119,051%. Pig iron production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Pig Iron Exports

Exports from Colombia

In 2021, overseas shipments of pig iron and spiegeleisen increased by 35% to X tons, rising for the second year in a row after four years of decline. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2014 when exports increased by 144% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, pig iron exports surged to $X in 2021. Overall, exports posted a significant increase. The growth pace was the most rapid in 2015 with an increase of 221%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ecuador (X tons) was the main destination for pig iron exports from Colombia, accounting for a 94% share of total exports. Moreover, pig iron exports to Ecuador exceeded the volume sent to the second major destination, Costa Rica (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Ecuador amounted to +28.9%.

In value terms, Ecuador ($X) remains the key foreign market for pig iron exports from Colombia, comprising 92% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Ecuador stood at +39.9%.

Export Prices by Country

In 2021, the average pig iron export price amounted to $X per ton, remaining stable against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pig iron export price decreased by -12.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 89% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Ecuador amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+8.5%), while the prices for the other major destinations experienced mixed trend patterns.

Pig Iron Imports

Imports into Colombia

In 2021, overseas purchases of pig iron and spiegeleisen decreased by -50.6% to X tons, falling for the fifth year in a row after five years of growth. Overall, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2016 with an increase of 283%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, pig iron imports shrank rapidly to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 240%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) was the main supplier of pig iron to Colombia, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at +83.5%.

In value terms, Spain ($X) constituted the largest supplier of pig iron to Colombia.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +72.0%.

Import Prices by Country

In 2021, the average pig iron import price amounted to $X per ton, rising by 40% against the previous year. Over the period under review, the import price posted moderate growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 54%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Spain.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +15.9% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pig iron and spiegeleisen in the world?

China remains the largest pig iron consuming country worldwide, comprising approx. 73% of total volume. Moreover, pig iron consumption in China exceeded the figures recorded by the second-largest consumer, India, tenfold. South Korea ranked third in terms of total consumption with a 4.9% share.

What are the largest producers of pig iron and spiegeleisen in the world?

China constituted the country with the largest volume of pig iron production, accounting for 73% of total volume. Moreover, pig iron production in China exceeded the figures recorded by the second-largest producer, India, tenfold. The third position in this ranking was occupied by South Korea, with a 4.9% share.

What are the leading suppliers of pig iron and spiegeleisen to Colombia?

In value terms, China constituted the largest supplier of pig iron to Colombia.

What are the leading importers of pig iron and spiegeleisen from Colombia?

In value terms, Ecuador remains the key foreign market for pig iron exports from Colombia.

What is the average export price for pig iron and spiegeleisen in Colombia?

In 2021, the average pig iron export price amounted to $5,171 per ton, declining by -4% against the previous year.

What is the average import price for pig iron and spiegeleisen in Colombia?

In 2021, the average pig iron import price amounted to $966 per ton, picking up by 9.6% against the previous year.

This report provides an in-depth analysis of the pig iron market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24101100 - Pig iron and spiegeleisen in pigs, blocks or other primary forms

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024