China: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in China

In 2022, after four years of growth, there was significant decline in the Chinese iron oxide pigment market, when its value decreased by X% to $X. Overall, the total consumption indicated a measured 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. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Iron Oxide Pigment Production in China

In value terms, iron oxide pigment production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a notable 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Iron Oxide Pigment Exports

Exports from China

In 2022, shipments abroad of iron oxide pigments increased by X% to X tons, rising for the third year in a row after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, iron oxide pigment exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for iron oxide pigment exports from China, with a X% share of total exports. Moreover, iron oxide pigment exports to the United States exceeded the volume sent to the second major destination, Russia (X tons), fivefold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Germany (X% per year).

In value terms, the United States ($X) remains the key foreign market for iron oxide pigments exports from China, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Germany (X% per year).

Export Prices by Country

The average iron oxide pigment export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Vietnam ($X per ton) and Germany ($X per ton), while the average price for exports to Indonesia ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Oxide Pigment Imports

Imports into China

Iron oxide pigment imports into China declined sharply to X tons in 2022, which is down by X% compared with the previous year's figure. Over the period under review, imports showed a pronounced downturn. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, iron oxide pigment imports fell dramatically to $X in 2022. In general, imports showed a perceptible contraction. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), Japan (X tons) and Vietnam (X tons) were the main suppliers of iron oxide pigment imports to China, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), Germany ($X) and South Korea ($X) appeared to be the largest iron oxide pigment suppliers to China, together accounting for X% of total imports. Taiwan (Chinese), the United States, Vietnam, Austria, Turkey and India lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average iron oxide pigment import price amounted to $X per ton, growing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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