World - Chromium - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact
Global Chromium Exports Soared Over the Last Two Years, Reaching $447M
IndexBox has just published a new report: 'World - Chromium - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
In 2018, the amount of chromium exported worldwide amounted to 44K tonnes, stabilizing at the previous year. Over the period under review, chromium exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 with an increase of 62% year-to-year. The global exports peaked at 44K tonnes in 2016; however, from 2017 to 2018, exports failed to regain their momentum.
In value terms, chromium exports totaled $447M (IndexBox estimates) in 2018. After bottoming out from 2015-2016, it increased robustly over the last two years. Based on 2018 figures, chromium exports increased by +26.1% against 2015 indices.
Exports by Country
Russia represented the major exporter of chromium exported in the world, with the volume of exports resulting at 19K tonnes, which was approx. 44% of total exports in 2018. The UK (7,145 tonnes) took a 16% share (based on tonnes) of total exports, which put it in second place, followed by France (15%), the Netherlands (8.1%) and China (5.2%). The following exporters - Germany (1,723 tonnes) and Spain (683 tonnes) - together made up 5.5% of total exports.
Exports from Russia increased at an average annual rate of +3.4% from 2007 to 2018. At the same time, the Netherlands (+7.1%) and Germany (+1.5%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +7.1% from 2007-2018. Spain and the UK experienced a relatively flat trend pattern. By contrast, France (-1.2%) and China (-4.8%) illustrated a downward trend over the same period.
Russia (+14 p.p.) and the Netherlands (+4.3 p.p.) significantly strengthened its position in terms of the global exports, while France and China saw its share reduced by -2% and -3.7% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Russia ($182M) remains the largest chromium supplier worldwide, comprising 41% of global exports. The second position in the ranking was occupied by the UK ($87M), with a 20% share of global exports. It was followed by France, with a 15% share.
Export Prices by Country
In 2018, the average chromium export price amounted to $10,267 per tonne, increasing by 16% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +3.0%. The global export price peaked at $11,904 per tonne in 2011; however, from 2012 to 2018, export prices remained at a lower figure.
Average prices varied somewhat amongst the major exporting countries. In 2018, major exporting countries recorded the following prices: in the UK ($12,237 per tonne) and France ($10,733 per tonne), while Spain ($8,533 per tonne) and China ($8,635 per tonne) were amongst the lowest.
From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other global leaders experienced more modest paces of growth.
In 2018, the global chromium imports stood at 36K tonnes, approximately reflecting the previous year. In general, chromium imports continue to indicate a slight decrease. In value terms, chromium imports stood at $403M (IndexBox estimates) in 2018.
Imports by Country
The countries with the highest levels of chromium imports in 2018 were the U.S. (7,870 tonnes), Germany (6,673 tonnes) and Japan (4,613 tonnes), together accounting for 54% of total import. The Netherlands (2,708 tonnes) ranks next in terms of the total imports with a 7.6% share, followed by Belgium (5.2%) and South Korea (4.5%). The following importers - the UK (1,492 tonnes), Austria (1,106 tonnes), India (1,017 tonnes), Taiwan, Chinese (938 tonnes), Italy (878 tonnes) and Canada (596 tonnes) - together made up 17% of total imports.
From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by India, while imports for the other global leaders experienced more modest paces of growth.
In value terms, the largest chromium importing markets worldwide were the U.S. ($101M), Germany ($72M) and Japan ($57M), with a combined 57% share of global imports. The Netherlands, the UK, South Korea, Belgium, India, Austria, Italy, Canada and Taiwan, Chinese lagged somewhat behind, together comprising a further 30%.
Import Prices by Country
In 2018, the average chromium import price amounted to $11,275 per tonne, rising by 24% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +3.5%.
There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Canada ($14,680 per tonne), while Belgium ($6,096 per tonne) was amongst the lowest.
From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Canada, while the other global leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the global chromium market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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