Ferro-Cerium And Pyrophoric Alloys Market

The global market for ferro-cerium and pyrophoric alloys is forecasted to see continued growth over the next eight years, with a projected CAGR of +3.6% in volume and +6.0% in value from 2022 to 2030. China remains the largest consumer and producer of these alloys, followed by the United States and India. Top exporting countries include Germany, the Netherlands, and the UK. Prices and production volumes have shown steady growth trends over the years, with some notable fluctuations in certain years.

Market Forecast

Driven by increasing demand for ferro-cerium and pyrophoric alloys worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market volume to 2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market value to $9.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ferro-Cerium And Pyrophoric Alloys

Global ferro-cerium and pyrophoric alloys consumption was estimated at 1.5M tons in 2022, surging by 2.6% against the year before. The total consumption volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at 1.5M tons in 2016; afterwards, it flattened through to 2022.

The global ferro-cerium and pyrophoric alloys market value expanded to $5.8B in 2022, rising by 4.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption reached the peak level of $6B. From 2021 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

China (368K tons) remains the largest ferro-cerium and pyrophoric alloys consuming country worldwide, accounting for 24% of total volume. Moreover, ferro-cerium and pyrophoric alloys consumption in China exceeded the figures recorded by the second-largest consumer, the United States (160K tons), twofold. The third position in this ranking was taken by India (146K tons), with a 9.5% share.

In China, ferro-cerium and pyrophoric alloys consumption increased at an average annual rate of +4.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+5.8% per year) and India (+3.6% per year).

In value terms, the United States ($1.5B), China ($1.2B) and Brazil ($511M) were the countries with the highest levels of market value in 2022, with a combined 55% share of the global market.

In terms of the main consuming countries, the United States, with a CAGR of +5.9%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of ferro-cerium and pyrophoric alloys per capita consumption in 2022 were the UK (725 kg per 1000 persons), France (588 kg per 1000 persons) and the United States (479 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the United States (with a CAGR of +5.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Ferro-Cerium And Pyrophoric Alloys

In 2022, global ferro-cerium and pyrophoric alloys production stood at 1.5M tons, picking up by 1.8% compared with the previous year. The total output volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 12%. Global production peaked at 1.6M tons in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, ferro-cerium and pyrophoric alloys production amounted to $6B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2020 when the production volume increased by 24% against the previous year. As a result, production reached the peak level of $6.2B. From 2021 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (371K tons) remains the largest ferro-cerium and pyrophoric alloys producing country worldwide, accounting for 24% of total volume. Moreover, ferro-cerium and pyrophoric alloys production in China exceeded the figures recorded by the second-largest producer, the United States (160K tons), twofold. The third position in this ranking was taken by India (146K tons), with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +4.2%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+5.8% per year) and India (+3.6% per year).

Imports

World Imports of Ferro-Cerium And Pyrophoric Alloys

In 2022, purchases abroad of ferro-cerium and pyrophoric alloys increased by 14% to 121K tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 17%. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, ferro-cerium and pyrophoric alloys imports soared to $299M in 2022. The total import value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

Italy (11K tons), the Netherlands (11K tons), the UK (9.6K tons), France (9.6K tons) and Germany (9.2K tons) represented roughly 42% of total imports in 2022. The following importers - Norway (5K tons), Spain (4.6K tons), Thailand (3.7K tons), Portugal (3.6K tons), Austria (3.5K tons), Romania (3.3K tons), Australia (3.2K tons) and Belgium (3.2K tons) - together made up 25% of total imports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +23.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest ferro-cerium and pyrophoric alloys importing markets worldwide were France ($30M), the Netherlands ($25M) and Germany ($24M), together accounting for 27% of global imports. Italy, the UK, Norway, Spain, Belgium, Australia, Portugal, Romania, Austria and Thailand lagged somewhat behind, together accounting for a further 36%.

Romania, with a CAGR of +18.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average ferro-cerium and pyrophoric alloys import price stood at $2,465 per ton in 2022, with an increase of 7.6% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 11%. Over the period under review, average import prices attained the maximum 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 France ($3,096 per ton), while Thailand ($1,349 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Ferro-Cerium And Pyrophoric Alloys

In 2022, overseas shipments of ferro-cerium and pyrophoric alloys increased by 2.5% to 119K tons, rising for the second consecutive year after two years of decline. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 38%. As a result, the exports reached the peak of 166K tons. From 2014 to 2022, the growth of the global exports failed to regain momentum.

In value terms, ferro-cerium and pyrophoric alloys exports rose significantly to $285M in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 18%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

The shipments of the four major exporters of ferro-cerium and pyrophoric alloys, namely Germany, the Netherlands, the UK and Ireland, represented more than half of total export. It was distantly followed by Serbia (6.8K tons), committing a 5.7% share of total exports. The following exporters - Croatia (4.5K tons), Denmark (4.2K tons), Poland (4.1K tons), the Czech Republic (3.9K tons), China (3.8K tons), Turkey (3.2K tons), Austria (2.8K tons) and the United States (1.8K tons) - together made up 24% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Serbia (with a CAGR of +67.2%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($51M), the Netherlands ($36M) and the UK ($34M) appeared to be the countries with the highest levels of exports in 2022, together accounting for 43% of global exports. Ireland, China, Serbia, the United States, Denmark, Austria, the Czech Republic, Poland, Croatia and Turkey lagged somewhat behind, together accounting for a further 40%.

In terms of the main exporting countries, Serbia, with a CAGR of +66.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average ferro-cerium and pyrophoric alloys export price amounted to $2,396 per ton, surging by 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2014 an increase of 24% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 the United States ($7,346 per ton), while Ireland ($1,390 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform