Overview of the Global Market for Chromium Ores and Concentrates

Market Size for Chromium Ores and Concentrates

In 2022, the global chromium ore and concentrate market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated notable 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 2020 indices. Over the period under review, the global market reached the maximum level in 2022 and is likely to continue growth in the near future.

Production of Chromium Ores and Concentrates

In value terms, chromium ore and concentrate production reduced to $X in 2022 estimated in export price. In general, production showed a mild setback. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, global production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Exports of Chromium Ores and Concentrates

Exports

Global chromium ore and concentrate exports fell to X tons in 2022, flattening at the year before. The total export 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 growth pace was the most rapid in 2013 with an increase of X% against the previous year. The global exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, chromium ore and concentrate exports soared to $X in 2022. In general, total exports indicated noticeable 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The global exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

South Africa dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Turkey (X tons), constituting a X% share of total exports. The following exporters - Kazakhstan (X tons), Pakistan (X tons), Oman (X tons) and Zimbabwe (X tons) - each amounted to an X% share of total exports.

South Africa was also the fastest-growing in terms of the chromium ores and concentrates exports, with a CAGR of X% from 2012 to 2022. At the same time, Zimbabwe (X%) and Oman (X%) displayed positive paces of growth. By contrast, Pakistan (X%), Turkey (X%) and Kazakhstan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Africa increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest chromium ore and concentrate supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Turkey ($X), with a X% share of global exports. It was followed by Kazakhstan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in South Africa stood at X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Kazakhstan (X% per year).

Export Prices by Country

In 2022, the average chromium ore and concentrate export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, continues to indicate a mild reduction. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Kazakhstan ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Imports of Chromium Ores and Concentrates

Imports

In 2022, approx. X tons of chromium ores and concentrates were imported worldwide; falling by X% on the previous year's figure. In general, total imports indicated a moderate expansion from 2012 to 2022: its volume 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 decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, global imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, chromium ore and concentrate imports rose sharply to $X in 2022. Overall, total imports indicated a perceptible expansion 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 appeared the most rapid in 2017 with an increase of X%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of global imports failed to regain momentum.

Imports by Country

China prevails in imports structure, recording X tons, which was near X% of total imports in 2022. The following importers - Indonesia (X tons) and Russia (X tons) - each reached a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to chromium ore and concentrate 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 the world, with a CAGR of X% from 2012-2022. By contrast, Russia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Indonesia increased by X and X percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported chromium ores and concentrates worldwide, comprising X% of global imports. The second position in the ranking was taken by Russia ($X), with a X% share of global imports.

From 2012 to 2022, the average annual growth rate of value in China stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Russia (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the average chromium ore and concentrate import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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