Colombia: Electrical Fuse Market 2024

Electrical Fuse Market Size in Colombia

After two years of decline, the Colombian electrical fuse market increased by 8.5% to $X in 2021. Over the period under review, consumption, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2018 when the market value increased by 9.4% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Electrical Fuse Production in Colombia

In value terms, electrical fuse production expanded slightly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a pronounced curtailment. The growth pace was the most rapid in 2018 with an increase of 12%. Electrical fuse production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Electrical Fuse Exports

Exports from Colombia

In 2021, shipments abroad of electrical fuses increased by 7.8% to X tons, rising for the second consecutive year after four years of decline. Overall, exports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 59%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, electrical fuse exports surged to $X in 2021. In general, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 77% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Panama (X tons) was the main destination for electrical fuse exports from Colombia, with a 40% share of total exports. Moreover, electrical fuse exports to Panama exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was held by Guatemala (X tons), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume to Panama totaled +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+0.8% per year) and Guatemala (+10.5% per year).

In value terms, the United States ($X), Panama ($X) and Guatemala ($X) constituted the largest markets for electrical fuse exported from Colombia worldwide, together comprising 51% of total exports. These countries were followed by Chile, Ecuador, Nicaragua, El Salvador, Costa Rica, Mexico, the Dominican Republic, Peru and Venezuela, which together accounted for a further 43%.

Nicaragua, with a CAGR of +163.5%, recorded 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 electrical fuse export price stood at $X per ton in 2021, growing by 15% against the previous year. Overall, the export price, however, showed a mild decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 26% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Panama ($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 El Salvador (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Fuse Imports

Imports into Colombia

Electrical fuse imports into Colombia surged to X tons in 2021, rising by 89% on the year before. Overall, total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, electrical fuse imports skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of electrical fuse to Colombia, with a 84% share of total imports. Moreover, electrical fuse imports from China exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), more than tenfold. The third position in this ranking was taken by Mexico (X tons), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (-22.1% per year) and Mexico (+0.6% per year).

In value terms, China ($X) constituted the largest supplier of electrical fuses to Colombia, comprising 52% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Mexico, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.1% per year) and Mexico (+2.1% per year).

Import Prices by Country

In 2021, the average electrical fuse import price amounted to $X per ton, reducing by -22% against the previous year. In general, the import price saw a mild curtailment. The pace of growth was the most pronounced in 2017 when the average import price increased by 25%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 Mexico (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :