Salts Of Oxometallic And Peroxometallic Acids Market

The article discusses the expected downward trend in the market for salts of oxometallic and peroxometallic acids over the next eight years, with a projected decrease in consumption and market performance. Despite fluctuations, the global market has shown growth in recent years, with notable increases in consumption and production. Key consuming and producing countries include Poland, China, Japan, South Korea, and the United States. Imports and exports of these salts have also increased significantly, with South Korea being the major exporter. Price trends vary among countries, with South Korea having the highest export prices. Overall, the market faces challenges in the coming years but is expected to continue growing.

Market Forecast

The market for salts of oxometallic and peroxometallic acids is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -1.5% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 1.9M tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $33.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Salts Of Oxometallic And Peroxometallic Acids (Excluding Chromates, Dichromates, Peroxochromates, Manganites, Manganates, Permanganates, Molybdates, Tungstates)

For the sixth consecutive year, the global market recorded growth in consumption of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates), which increased by 38% to 2.2M tons in 2022. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +112.0% against 2014 indices. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The value of the market for salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) worldwide soared to $26.2B in 2022, picking up by 29% 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). In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Poland (545K tons), China (322K tons) and Japan (152K tons), with a combined 47% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of tungstates), amongst the key consuming countries, was attained by Poland (with a CAGR of +42.9%), while tungstates) for the other global leaders experienced more modest paces of growth.

In value terms, the largest salts of oxometallic and peroxometallic acids markets worldwide were Russia ($3.5B), Poland ($3B) and China ($2.9B), with a combined 36% share of the global market.

Poland, with a CAGR of +39.4%, saw the highest growth rate of market size among the main consuming countries over the period under review, while tungstates) for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) was registered in Poland (14 kg per person), followed by Japan (1.2 kg per person), Germany (0.5 kg per person) and Russia (0.5 kg per person), while the world average per capita consumption of salts of oxometallic and peroxometallic acids was estimated at 0.3 kg per person.

In Poland, per capita consumption of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) expanded at an average annual rate of +43.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Japan (+17.8% per year) and Germany (+1.4% per year).

Production

World Production of Salts Of Oxometallic And Peroxometallic Acids (Excluding Chromates, Dichromates, Peroxochromates, Manganites, Manganates, Permanganates, Molybdates, Tungstates)

In 2022, global production of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) expanded to 1.7M tons, with an increase of 2.6% against the year before. Over the period under review, the total production indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +3.3% 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 +73.9% against 2014 indices. The pace of growth appeared the most rapid in 2015 with an increase of 24% against the previous year. Over the period under review, global production of reached the peak volume in 2022 and is expected to retain growth in the near future.

In value terms, production of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) reduced modestly to $22.5B in 2022 estimated in export price. Overall, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 28%. Over the period under review, global production of hit record highs at $23.3B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (346K tons), South Korea (190K tons) and the United States (134K tons), together accounting for 39% of global production.

From 2012 to 2022, the most notable rate of growth in terms of tungstates), amongst the main producing countries, was attained by South Korea (with a CAGR of +29.1%), while tungstates) for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Salts Of Oxometallic And Peroxometallic Acids (Excluding Chromates, Dichromates, Peroxochromates, Manganites, Manganates, Permanganates, Molybdates, Tungstates)

In 2022, supplies from abroad of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) increased by 190% to 948K tons, rising for the second consecutive year after two years of decline. Overall, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) soared to $9B in 2022. In general, imports recorded significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

Poland represented the main importer of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) in the world, with the volume of imports resulting at 533K tons, which was near 56% of total imports in 2022. Japan (163K tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (9.4%). France (26K tons) and Canada (19K tons) took a relatively small share of total imports.

Poland was also the fastest-growing in terms of the salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) imports, with a CAGR of +135.5% from 2012 to 2022. At the same time, Japan (+25.2%), South Korea (+19.6%), Canada (+5.5%) and France (+4.3%) displayed positive paces of growth. From 2012 to 2022, the share of Poland and Japan increased by +56 and +4.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest salts of oxometallic and peroxometallic acids importing markets worldwide were South Korea ($3.1B), Poland ($3.1B) and Japan ($1.1B), together comprising 81% of global imports.

In terms of the main importing countries, Poland, with a CAGR of +118.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) stood at $9,476 per ton in 2022, dropping by -5.6% against the previous year. Overall, the import price, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 47% against the previous year. Global import price peaked at $12,923 per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($35,202 per ton), while France ($875 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Salts Of Oxometallic And Peroxometallic Acids (Excluding Chromates, Dichromates, Peroxochromates, Manganites, Manganates, Permanganates, Molybdates, Tungstates)

For the ninth consecutive year, the global market recorded growth in overseas shipments of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates), which increased by 16% to 516K tons in 2022. Overall, exports enjoyed a strong expansion. The growth pace was the most rapid in 2021 when exports increased by 36%. Over the period under review, the global exports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) surged to $14.7B in 2022. In general, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

South Korea was the major exporter of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) in the world, with the volume of exports reaching 266K tons, which was near 52% of total exports in 2022. Japan (92K tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by the United States (9.4%) and China (7.1%). Germany (23K tons) and Belgium (17K tons) followed a long way behind the leaders.

South Korea was also the fastest-growing in terms of the salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) exports, with a CAGR of +35.4% from 2012 to 2022. At the same time, Japan (+21.6%), Germany (+10.3%), the United States (+3.7%) and China (+3.1%) displayed positive paces of growth. Belgium experienced a relatively flat trend pattern. South Korea (+42 p.p.), Japan (+7.9 p.p.) and Germany (+4.4 p.p.) significantly strengthened its position in terms of the global exports, while Belgium, China and the United States saw its share reduced by -9%, -13.4% and -16.4% from 2012 to 2022, respectively.

In value terms, South Korea ($11.3B) remains the largest salts of oxometallic and peroxometallic acids supplier worldwide, comprising 77% of global exports. The second position in the ranking was taken by Japan ($2.8B), with a 19% share of global exports. It was followed by China, with a 1.6% share.

In South Korea, exports of salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) increased at an average annual rate of +47.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+33.4% per year) and China (+1.0% per year).

Export Prices By Country

In 2022, the average export price for salts of oxometallic and peroxometallic acids (excluding chromates, dichromates, peroxochromates, manganites, manganates, permanganates, molybdates, tungstates) amounted to $28,502 per ton, picking up by 80% against the previous year. In general, the export price enjoyed resilient growth. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($42,263 per ton), while the United States ($1,331 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+9.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform