Colombia: Unwrought Zinc Alloys Market 2024

Unwrought Zinc Alloys Market Size in Colombia

The Colombian unwrought zinc alloys market dropped significantly to $X in 2022, falling by -18.1% 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 continues to indicate a pronounced descent. Unwrought zinc alloys consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Unwrought Zinc Alloys Exports

Exports from Colombia

In 2022, shipments abroad of unwrought zinc alloys decreased by -13.5% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 354%. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, unwrought zinc alloys exports shrank to $X in 2022. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 391%. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

Ecuador (X tons) was the main destination for unwrought zinc alloys exports from Colombia, accounting for a 89% share of total exports. Moreover, unwrought zinc alloys exports to Ecuador exceeded the volume sent to the second major destination, Venezuela (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador stood at +69.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+1.0% per year) and the Dominican Republic (+3.1% per year).

In value terms, Ecuador ($X) remains the key foreign market for unwrought zinc alloys exports from Colombia, comprising 97% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 2.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ecuador amounted to +69.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-5.9% per year) and the Dominican Republic (+8.3% per year).

Export Prices by Country

The average unwrought zinc alloys export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, enjoyed buoyant growth. The growth pace was the most rapid in 2018 an increase of 37% against the previous year. The export price peaked at $X per ton in 2021, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Venezuela ($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 Dominican Republic (+5.0%), while the prices for the other major destinations experienced a decline.

Unwrought Zinc Alloys Imports

Imports into Colombia

In 2022, approx. X tons of unwrought zinc alloys were imported into Colombia; falling by -15.8% compared with the previous year's figure. Overall, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, unwrought zinc alloys imports reduced markedly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 61% 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, Peru (X tons) was the main supplier of unwrought zinc alloys to Colombia, accounting for a 94% share of total imports. It was followed by Brazil (X tons), with a 1.6% share of total imports. Costa Rica (X tons) ranked third in terms of total imports with a 1.2% share.

From 2012 to 2022, the average annual growth rate of volume from Peru stood at -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+12.6% per year) and Costa Rica (-16.3% per year).

In value terms, Peru ($X) constituted the largest supplier of unwrought zinc alloys to Colombia, comprising 84% of total imports. The second position in the ranking was held by Brazil ($X), with a 1% share of total imports. It was followed by Mexico, with a 0.4% share.

From 2012 to 2022, the average annual growth rate of value from Peru amounted to -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+12.6% per year) and Mexico (-18.4% per year).

Import Prices by Country

The average unwrought zinc alloys import price stood at $X per ton in 2022, with a decrease of -3.7% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, unwrought zinc alloys import price increased by +5.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 35%. The import price peaked at $X per ton in 2021, and then contracted in the following year.

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 Mexico ($X per ton), while the price for Costa Rica ($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 (+13.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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