Asia: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Asia

The Asian ferro-chromium market reached $X in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Ferro-Chromium Production in Asia

In value terms, ferro-chromium production rose notably to $X in 2023 estimated in export price. The total production indicated a tangible increase from 2012 to 2023: its value 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, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2023, production failed to regain momentum.

Ferro-Chromium Exports

Exports in Asia

In 2023, the amount of ferro-chromium exported in Asia expanded slightly to X tons, increasing by X% on 2022. Over the period under review, exports, however, saw a slight contraction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, ferro-chromium exports declined to $X in 2023. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then declined in the following year.

Exports by Country

Kazakhstan represented the main exporter of ferro-chromium in Asia, with the volume of exports reaching X tons, which was near X% of total exports in 2023. It was distantly followed by India (X tons), committing a X% share of total exports. Turkey (X tons), China (X tons) and Oman (X tons) took a little share of total exports.

From 2012 to 2023, the biggest increases were recorded for Oman (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), India ($X) and Turkey ($X) appeared to be the countries with the highest levels of exports in 2023, together comprising X% of total exports. China and Oman lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, dropping by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, 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 Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Ferro-Chromium Imports

Imports in Asia

In 2023, imports of ferro-chromium in Asia surged to X tons, picking up by X% against the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern 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, ferro-chromium imports expanded sharply to $X in 2023. Total imports indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked in 2023 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2023, China (X tons) was the major importer of ferro-chromium, achieving X% of total imports. Indonesia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%) and South Korea (X%). Taiwan (Chinese) (X tons) held a little share of total imports.

From 2012 to 2023, average annual rates of growth with regard to ferro-chromium 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 2012-2023. South Korea experienced a relatively flat trend pattern. By contrast, Japan (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. China (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), South Korea and Japan saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

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

From 2012 to 2023, the average annual rate of growth in terms of value in China amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, reducing by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while Indonesia ($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