Colombia: Market for Welded Link Chain Of Iron Or Steel 2025

Market Size for Welded Link Chain Of Iron Or Steel in Colombia

The Colombian metal welded link chain market skyrocketed to $X in 2021, rising by 43% 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, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Metal welded link chain consumption peaked in 2021 and is expected to retain growth in the near future.

Exports of Welded Link Chain Of Iron Or Steel

Exports from Colombia

In 2021, shipments abroad of welded link chain of iron or steel increased by 29% to X tons, rising for the second consecutive year after two years of decline. In general, exports recorded prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by 477%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, metal welded link chain exports surged to $X in 2021. Overall, exports saw a notable expansion. The growth pace was the most rapid in 2014 with an increase of 694%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for metal welded link chain exports from Colombia, accounting for a 80% share of total exports. Moreover, metal welded link chain exports to the United States exceeded the volume sent to the second major destination, Bolivia (X tons), tenfold. Costa Rica (X tons) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (0.0% per year) and Costa Rica (+8.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for welded link chain of iron or steel exports from Colombia, comprising 72% of total exports. The second position in the ranking was held by Venezuela ($X), with an 8.3% share of total exports. It was followed by Bolivia, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-16.9% per year) and Bolivia (0.0% per year).

Export Prices by Country

In 2021, the average metal welded link chain export price amounted to $X per ton, rising by 9.2% against the previous year. In general, the export price, however, continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2014 an increase of 38%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Welded Link Chain Of Iron Or Steel

Imports into Colombia

In 2021, after two years of decline, there was significant growth in purchases abroad of welded link chain of iron or steel, when their volume increased by 48% to X tons. In general, imports saw a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 68%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, metal welded link chain imports surged to $X in 2021. Over the period under review, total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of metal welded link chain to Colombia, with a 91% share of total imports. It was followed by the United States (X tons), with a 1.9% share of total imports. The Czech Republic (X tons) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.6% per year) and the Czech Republic (+197.8% per year).

In value terms, China ($X) constituted the largest supplier of welded link chain of iron or steel to Colombia, comprising 66% of total imports. The second position in the ranking was held by the United States ($X), with a 9.9% share of total imports. It was followed by Germany, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.5% per year) and Germany (-14.0% per year).

Import Prices by Country

The average metal welded link chain import price stood at $X per ton in 2021, falling by -6.7% against the previous year. Over the period under review, the import price saw a abrupt slump. The pace of growth was the most pronounced in 2019 when the average import price increased by 13%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by India (+20.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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