Asia: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in Asia

The Asian chromium ore and concentrate market rose significantly to $X in 2022, picking up by X% against the previous year. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Chromium Ores and Concentrates in Asia

In value terms, chromium ore and concentrate production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Exports of Chromium Ores and Concentrates

Exports in Asia

In 2022, overseas shipments of chromium ores and concentrates increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, chromium ore and concentrate exports soared to $X in 2022. Over the period under review, exports, however, showed a pronounced slump. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Turkey (X tons) was the major exporter of chromium ores and concentrates, creating X% of total exports. Kazakhstan (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Pakistan (X%) and Oman (X%). The following exporters - the Philippines (X tons) and Iran (X tons) - together made up X% of total exports.

Exports from Turkey decreased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, the Philippines (X%), Pakistan (X%), Kazakhstan (X%) and Iran (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Oman and Pakistan increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest chromium ore and concentrate supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a X% share of total exports. It was followed by Pakistan, with a X% share.

In Turkey, chromium ore and concentrate exports contracted by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kazakhstan (X% per year) and Pakistan (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Imports of Chromium Ores and Concentrates

Imports in Asia

In 2022, imports of chromium ores and concentrates in Asia declined slightly to X tons, with a decrease of X% on the previous year's figure. Total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, chromium ore and concentrate imports soared to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

China prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2022. Indonesia (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to chromium ore and concentrate imports into China stood at X%. At the same time, Indonesia (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Indonesia (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported chromium ores and concentrates in Asia, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with a X% share of total imports.

In China, chromium ore and concentrate imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Indonesia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

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