Colombia: Tap And Valve Market 2024

Tap And Valve Exports

Exports from Colombia

In 2022, after two years of decline, there was growth in shipments abroad of taps, cocks, valves and similar appliances, when their volume increased by 0.1% to X tons. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 17% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tap and valve exports shrank to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 12%. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Peru (X tons), Mexico (X tons) and Guatemala (X tons) were the main destinations of tap and valve exports from Colombia, together comprising 55% of total exports. These countries were followed by Costa Rica, Ecuador, Nicaragua, Honduras, the United States, Panama and Venezuela, which together accounted for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of +50.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Mexico ($X) and Guatemala ($X) were the largest markets for tap and valve exported from Colombia worldwide, with a combined 51% share of total exports. Ecuador, Costa Rica, the United States, Honduras, Nicaragua, Panama and Venezuela lagged somewhat behind, together accounting for a further 36%.

In terms of the main countries of destination, Nicaragua, with a CAGR of +51.4%, saw the highest rates of growth with regard to 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

The average tap and valve export price stood at $X per ton in 2022, dropping by -5.3% against the previous year. Over the period under review, the export price showed a perceptible descent. The pace of growth was the most pronounced in 2021 an increase of 12% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Colombia

In 2022, the amount of taps, cocks, valves and similar appliances imported into Colombia shrank to X tons, which is down by -8.3% compared with 2021. Overall, imports continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, tap and valve imports reduced to $X in 2022. In general, imports showed a pronounced reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 33% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest tap and valve supplier to Colombia, with a 66% share of total imports. Moreover, tap and valve imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), eightfold. The third position in this ranking was taken by Mexico (X tons), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.6% per year) and Mexico (-5.2% per year).

In value terms, the largest tap and valve suppliers to Colombia were China ($X), the United States ($X) and Mexico ($X), together comprising 62% of total imports. Italy, France and Free Zones lagged somewhat behind, together comprising a further 11%.

In terms of the main suppliers, France, with a CAGR of +8.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average tap and valve import price amounted to $X per ton, with a decrease of -4.4% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 9.5%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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