Asia: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in Asia

In 2023, the Asian ferro-alloys market increased by X% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ferro-Alloys Production in Asia

In value terms, ferro-alloys production rose significantly to $X in 2023 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Ferro-Alloys Exports

Exports in Asia

In 2023, overseas shipments of ferro-alloys decreased by X% to X tons for the first time since 2015, thus ending a seven-year rising trend. Overall, exports, however, saw strong growth. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2022, and then declined in the following year.

In value terms, ferro-alloys exports plummeted to $X in 2023. Over the period under review, exports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then shrank rapidly in the following year.

Exports by Country

Indonesia was the key exporting country with an export of about X tons, which reached X% of total exports. India (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Kazakhstan (X%), Malaysia (X%) and China (X%). The following exporters - South Korea (X tons) and the United Arab Emirates (X tons) - each recorded a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the largest ferro-alloys supplier in Asia, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports. It was followed by Kazakhstan, with a X% share.

In Indonesia, ferro-alloys exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: India (X% per year) and Kazakhstan (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, reducing by X% against the previous year. Export price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-alloys export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Ferro-Alloys Imports

Imports in Asia

In 2023, ferro-alloys imports in Asia surged to X tons, jumping by X% compared with 2022. Over the period under review, imports saw a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The volume of import peaked in 2023 and is expected to retain growth in the near future.

In value terms, ferro-alloys imports declined to $X in 2023. Overall, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2022, and then contracted modestly in the following year.

Imports by Country

China prevails in imports structure, recording X tons, which was near X% of total imports in 2023. It was distantly followed by Japan (X tons), South Korea (X tons) and Indonesia (X tons), together comprising an X% share of total imports. Taiwan (Chinese) (X tons), Turkey (X tons) and India (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the ferro-alloys imports, with a CAGR of X% from 2012 to 2023. At the same time, Indonesia (X%), India (X%) and Turkey (X%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (X%) and Japan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China and Indonesia increased by X and X percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported ferro-alloys in Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then reduced dramatically in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform