United Kingdom: Chromium Market 2021

Chromium Market Size in the UK

The UK chromium market soared to $X in 2020, picking up by X% against the previous year. Overall, consumption posted modest growth. Chromium consumption peaked at $X in 2013; however, from 2014 to 2020, consumption stood at a somewhat lower figure.

Chromium Production in the UK

In value terms, chromium production fell to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by X% year-to-year. As a result, production attained the peak level of $X. From 2019 to 2020, production growth remained at a lower figure.

Chromium Exports

Exports from the UK

After four years of growth, shipments abroad of chromium decreased by -X% to X tons in 2020. Overall, exports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. Exports peaked at X tons in 2019, and then fell rapidly in the following year.

In value terms, chromium exports fell rapidly to $X in 2020. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 when exports increased by X% y-o-y. Exports peaked at $X in 2018; however, from 2019 to 2020, exports stood at a somewhat lower figure.

Exports by Country

The U.S. (X tons) was the main destination for chromium exports from the UK, accounting for a X% share of total exports. Moreover, chromium exports to the U.S. exceeded the volume sent to the second major destination, South Korea (X tons), threefold. The third position in this ranking was occupied by Germany (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to the U.S. was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+X% per year) and Germany (-X% per year).

In value terms, the U.S. ($X) remains the key foreign market for chromium exports from the UK, comprising X% of total exports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to the U.S. totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+X% per year) and Japan (+X% per year).

Export Prices by Country

The average chromium export price stood at $X per ton in 2020, shrinking by -X% against the previous year. In general, export price indicated a mild expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, chromium export price decreased by -X% against 2018 indices. The growth pace was the most rapid in 2018 when the average export price increased by X% year-to-year. As a result, export price reached the peak level of $X per ton. From 2019 to 2020, the growth in terms of the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Japan ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Japan, while the prices for the other major destinations experienced more modest paces of growth.

Chromium Imports

Imports into the UK

In 2020, chromium imports into the UK fell notably to X tons, shrinking by -X% compared with 2019. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. As a result, imports attained the peak of X tons. From 2011 to 2020, the growth imports remained at a somewhat lower figure.

In value terms, chromium imports declined remarkably to $X in 2020. In general, imports showed a abrupt setback. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2011; however, from 2012 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, France (X tons) constituted the largest chromium supplier to the UK, accounting for a X% share of total imports. Moreover, chromium imports from France exceeded the figures recorded by the second-largest supplier, Malta (X tons), threefold. The third position in this ranking was occupied by the Netherlands (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from France totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malta (+X% per year) and the Netherlands (-X% per year).

In value terms, France ($X) constituted the largest supplier of chromium to the UK, comprising X% of total imports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of total imports. It was followed by the U.S., with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from France totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-X% per year) and the U.S. (+X% per year).

Import Prices by Country

In 2020, the average chromium import price amounted to $X per ton, waning by -X% against the previous year. In general, the import price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% y-o-y. Over the period under review, average import prices attained the peak figure at $X per ton in 2011; however, from 2012 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per ton), while the price for Malta ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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