Eastern Asia: Chromium Market 2021

Chromium Market Size in Eastern Asia

In 2020, the East Asian chromium market decreased by -X% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption saw a abrupt slump. The pace of growth appeared the most rapid in 2011 with an increase of X% against the previous year. As a result, consumption attained the peak level of $X. From 2012 to 2020, the growth of the market remained at a lower figure.

Chromium Production in Eastern Asia

In value terms, chromium production plummeted to $X in 2020 estimated in export prices. Overall, production recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. The level of production peaked at $X in 2011; however, from 2012 to 2020, production stood at a somewhat lower figure.

Production By Country in Eastern Asia

The country with the largest volume of chromium production was China (X tons), accounting for X% of total volume.

In China, chromium production decreased by an average annual rate of -X% over the period from 2007-2020.

Chromium Exports

Exports in Eastern Asia

In 2020, exports of chromium in Eastern Asia declined to X tons, with a decrease of -X% against 2019. Over the period under review, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, exports reached the peak of X tons. From 2019 to 2020, the growth exports remained at a lower figure.

In value terms, chromium exports shrank significantly to $X in 2020. Overall, exports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. As a result, exports attained the peak of $X. From 2019 to 2020, the growth exports remained at a lower figure.

Exports by Country

China was the major exporter of chromium in Eastern Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2020. It was distantly followed by Japan (X tons), committing a X% share of total exports. South Korea (X tons) held a relatively small share of total exports.

From 2007 to 2020, average annual rates of growth with regard to chromium exports from China stood at -X%. Japan experienced a relatively flat trend pattern. South Korea (-X%) illustrated a downward trend over the same period. While the share of Japan (+X p.p.) increased significantly in terms of the total exports from 2007-2020, the share of China (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest chromium supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was occupied by Japan ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value in China amounted to -X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+X% per year) and South Korea (-X% per year).

Export Prices by Country

In 2020, the chromium export price in Eastern Asia amounted to $X per ton, declining by -X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 when the export price increased by X% y-o-y. The level of export peaked at $X per ton in 2019, and then dropped notably in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Japan, while the other leaders experienced more modest paces of growth.

Chromium Imports

Imports in Eastern Asia

In 2020, supplies from abroad of chromium decreased by -X% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

In value terms, chromium imports shrank notably to $X in 2020. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. The level of import peaked at $X in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Japan (X tons) represented the key importer of chromium, making up X% of total imports. South Korea (X tons) occupied a X% share (based on tons) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%). China (X tons) took a little share of total imports.

Imports into Japan decreased at an average annual rate of -X% from 2007 to 2020. At the same time, Taiwan (Chinese) (+X%), South Korea (+X%) and China (+X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +X% from 2007-2020. From 2007 to 2020, the share of Taiwan (Chinese) and South Korea increased by +X% and +X% percentage points, while Japan (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported chromium in Eastern Asia, comprising X% of total imports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value in Japan amounted to -X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and Taiwan (Chinese) (+X% per year).

Import Prices by Country

In 2020, the chromium import price in Eastern Asia amounted to $X per ton, which is down by -X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 an increase of X% year-to-year. As a result, import price attained the peak level of $X per ton. From 2012 to 2020, the growth in terms of the import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced mixed trends in the import price figures.

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Source: IndexBox Platform

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