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Colombia Steel Market Size, Share, Trends, Growth, Analysis: By Product: Long Steel, Flat Steel; By Type: Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel; By Application: Construction, Mechanical Engineering, Automotive, Metalware, Domestic Appliances, Agricultural, Others; Market Dynamics; Competitive Landscape; 2024-2032
Colombia Steel Market Outlook
The Colombia steel market size was approximately 3.4 MMT in 2023. The market is assessed to grow at a CAGR of 4.10% between 2024 and 2032, reaching a value of 4.88 MMT by 2032.
Key Takeaways
- In December 2020, steel production in Colombia rose to 110,000 metric tonnes.
- During the year 2022, Colombia's imports of iron and steel amounted to $2.5 billion.
- The sector is witnessing a significant impact of technological improvements, with the growing adoption of sustainable and environmentally friendly methods for steel production.
The Colombia steel market growth is primarily driven by rapid development of infrastructure, the increasing utilisation of advanced technologies and methods for steel production, and the escalating public investment. Moreover, the demand for steel is significantly increasing in the automotive sector. The rise in purchase of passenger cars, the growing demand for electric vehicles, surge in automobile exports from the region, and the introduction of new car models all contribute to the heightened demand for steel in the automotive sector.
As per the Colombia steel market analysis, the demand for green steel is on the rise. It is driven by consumers and businesses who are increasingly looking for sustainable and environmentally friendly products. As awareness of climate change and environmental issues continues to grow, there is a growing market for products that are produced more sustainably and responsibly. By investing in sustainable steel production methods, steel producers can not only meet this growing demand but also differentiate themselves in the market and attract environmentally conscious customers.
Steel plays a crucial role in the production of agricultural machinery and equipment, including plough, crushers, rakes, cultivators, tractors, shovels, and hoes. The utilisation of steel in the manufacturing process enhances the efficiency, durability, and productivity of these tools. Its exceptional properties, such as corrosion resistance, adaptability, and environmental sustainability, make it an indispensable material in the agricultural sector. The anti-corrosion features of steel effectively safeguard agricultural equipment against rust and deterioration.
Market Segmentation
Colombia Steel Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
- Long Steel
- Wire Rod
- Rebars
- Merchant Bars
- Heavy Sections
- Others
- Flat Steel
- Hot Rolled Wide Strip
- Quarto Plate
- Others
Market Breakup by Type
- Carbon Steel
- Alloy Steel
- Stainless Steel
- Tool Steel
Market Breakup by Application
- Construction
- Mechanical Engineering
- Automotive
- Metalware
- Domestic Appliances
- Agricultural
- Others
Competitive Landscape
The market participants are focusing on the production of sustainable and green steel to reduce their carbon footprints and attract environmentally conscious customers.
- Acerinox, S.A.
- Swiss Steel Holding AG
- Ternium S.A.
- ArcelorMittal S.A.
- SSAB AB
- Gerdau S/A
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Type |
|
| Breakup by Application |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Steel Market Overview
8.1 Key Industry Highlights
8.2 Latin America Steel Historical Market (2018-2023)
8.3 Latin America Steel Market Forecast (2024-2032)
8.4 Latin America Steel Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Colombia
8.4.5 Others
9 Colombia Steel Market Overview
9.1 Key Industry Highlights
9.2 Colombia Steel Historical Market (2018-2023)
9.3 Colombia Steel Market Forecast (2024-2032)
10 Colombia Steel Market by Product
10.1 Long Steel
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Wire Rod
10.1.3.2 Rebars
10.1.3.3 Merchant Bars
10.1.3.4 Heavy Sections
10.1.3.5 Others
10.2 Flat Steel
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Type
10.2.3.1 Hot Rolled Wide Strip
10.2.3.2 Quarto Plate
10.2.3.3 Others
11 Colombia Steel Market by Type
11.1 Carbon Steel
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Alloy Steel
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Stainless Steel
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Tool Steel
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 Colombia Steel Market by Application
12.1 Construction
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mechanical Engineering
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Automotive
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Metalware
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Domestic Appliances
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Agricultural
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyers Powers
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Trade Data Analysis
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Acerinox, S.A.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Swiss Steel Holding AG
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Ternium S.A.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 ArcelorMittal S.A.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 SSAB AB
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Gerdau S/A
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Steel Market: Key Industry Highlights, 2018 and 2032
2. Colombia Steel Market: Key Industry Highlights, 2018 and 2032
3. Colombia Steel Historical Market: Breakup by Product (MMT), 2018-2023
4. Colombia Steel Market Forecast: Breakup by Product (MMT), 2024-2032
5. Colombia Steel Historical Market: Breakup by Type (MMT), 2018-2023
6. Colombia Steel Market Forecast: Breakup by Type (MMT), 2024-2032
7. Colombia Steel Historical Market: Breakup by Application (MMT), 2018-2023
8. Colombia Steel Market Forecast: Breakup by Application (MMT), 2024-2032
9. Major Importing Countries by Volume
10. Major Exporting Countries by Volume
11. Major Importing Countries by Value
12. Major Exporting Countries by Value
13. Colombia Steel Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate volume of 3.4 MMT.
The market is projected to grow at a CAGR of 4.10% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around 4.88 MMT by 2032.
The rising demand in the automotive and agricultural industries, the growing utilisation of steel for manufacturing domestic appliances, and the escalating public funding for infrastructure projects are the key factors shaping the market growth.
The key market trends include the increasing demand for green steel and the growing construction sector.
The major products, according to the market report are long steel and flat steel.
The major types of steel in the market are carbon steel, alloy steel, stainless steel, and tool steel.
The major players in the market are Acerinox, S.A., Swiss Steel Holding AG, Ternium S.A., ArcelorMittal S.A., SSAB AB, and Gerdau S/A, among others.
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