Colombia: Safety Valve Market 2024

Safety Valve Market Size in Colombia

The Colombian safety valve market soared to $X in 2021, with an increase of 37% 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, however, continues to indicate a slight downturn. Safety valve consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Safety Valve Exports

Exports from Colombia

In 2021, overseas shipments of safety or relief valves for pipes, boiler shells, tanks and vats increased by 50% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 107% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, safety valve exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2014 when exports increased by 65%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Honduras (X units), Peru (X units) and Ecuador (X units) were the main destinations of safety valve exports from Colombia, together comprising 43% of total exports. These countries were followed by Brazil, the United States, Guatemala, Panama, Nicaragua, Germany, Costa Rica, Malaysia, Bolivia and Cuba, which together accounted for a further 48%.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +80.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Ecuador ($X) and Peru ($X) constituted the largest markets for safety valve exported from Colombia worldwide, with a combined 41% share of total exports.

Brazil, with a CAGR of +63.1%, saw the highest growth rate of the value of exports, among 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 safety valve export price stood at $X per unit in 2021, picking up by 4.3% against the previous year. Over the period under review, the export price, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 83%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Cuba ($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 (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Valve Imports

Imports into Colombia

In 2021, supplies from abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by 36% to X units, rising for the second consecutive year after two years of decline. Overall, imports, however, continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 45% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, safety valve imports surged to $X in 2021. Over the period under review, imports, however, showed a mild contraction. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), the United States (X units) and France (X units) were the main suppliers of safety valve imports to Colombia, together accounting for 70% of total imports. These countries were followed by Italy, Mexico, Germany, Spain, Brazil, Argentina, India, Taiwan (Chinese) and Canada, which together accounted for a further 24%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +31.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of safety or relief valves for pipes, boiler shells, tanks and vats to Colombia, comprising 37% of total imports. The second position in the ranking was taken by China ($X), with a 9.5% share of total imports. It was followed by Germany, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.3% per year) and Germany (+2.3% per year).

Import Prices by Country

The average safety valve import price stood at $X per unit in 2021, approximately reflecting the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2018 an increase of 38% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, 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 Argentina ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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