Eastern Asia: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Eastern Asia

The East Asian ferro-chromium market reduced slightly to $X in 2022, dropping by X% against the previous year. The total consumption indicated tangible 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 2018 indices. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Ferro-Chromium Production in Eastern Asia

In value terms, ferro-chromium production reduced modestly to $X in 2022 estimated in export price. The total production indicated a tangible 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 increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

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Ferro-Chromium Exports

Exports in Eastern Asia

For the third year in a row, Eastern Asia recorded growth in shipments abroad of ferro-chromium, which increased by X% to X tons in 2022. Overall, exports showed strong growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, ferro-chromium exports surged to $X in 2022. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

China prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. Taiwan (Chinese) (X tons) and Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ferro-chromium exports from China stood at X%. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. Japan experienced a relatively flat trend pattern. China (X p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, ferro-chromium exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced mixed trends in the export price figures.

Ferro-Chromium Imports

Imports in Eastern Asia

In 2022, ferro-chromium imports in Eastern Asia contracted to X tons, falling by X% against 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, ferro-chromium imports expanded sharply to $X in 2022. Total imports indicated a perceptible 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 pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China represented the key importer of ferro-chromium in Eastern Asia, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Japan (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%) and Taiwan (Chinese) (X%).

China was also the fastest-growing in terms of the ferro-chromium imports, with a CAGR of X% from 2012 to 2022. South Korea and Japan experienced a relatively flat trend pattern. Taiwan (Chinese) (X%) illustrated a downward trend over the same period. China (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 2022, respectively.

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

In China, ferro-chromium imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform