Africa: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Africa

The African ferro-chromium market declined remarkably to $X in 2023, reducing by X% against the previous year. In general, consumption continues to indicate a abrupt descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Ferro-Chromium Production in Africa

In value terms, ferro-chromium production expanded notably to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of production peaked at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Ferro-Chromium Exports

Exports in Africa

Ferro-chromium exports surged to X tons in 2023, growing by X% against the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are likely to see gradual growth in the immediate term.

In value terms, ferro-chromium exports soared to $X in 2023. Total exports indicated a noticeable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked in 2023 and is likely to see gradual growth in years to come.

Exports by Country

South Africa prevails in exports structure, accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by Zimbabwe (X tons), making up a X% share of total exports.

Exports from South Africa increased at an average annual rate of X% from 2012 to 2023. At the same time, Zimbabwe (X%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Zimbabwe increased by X percentage points.

In value terms, South Africa ($X) remains the largest ferro-chromium supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa totaled X%.

Export Prices by Country

The export price in Africa stood at $X per ton in 2023, therefore, remained relatively stable against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then shrank modestly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Zimbabwe stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%).

Ferro-Chromium Imports

Imports in Africa

In 2023, supplies from abroad of ferro-chromium decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports, however, recorded a noticeable expansion. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, ferro-chromium imports reduced markedly to $X in 2023. Over the period under review, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2015 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

South Africa was the main importer of ferro-chromium in Africa, with the volume of imports recording X tons, which was near X% of total imports in 2023. Egypt (X tons) took the second position in the ranking, distantly followed by Mauritius (X tons), Zambia (X tons) and Democratic Republic of the Congo (X tons). All these countries together took near X% share of total imports. The following importers - Tunisia (X tons) and Ghana (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mauritius (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ferro-chromium importing markets in Africa were South Africa ($X), Egypt ($X) and Zambia ($X), together comprising X% of total imports. Democratic Republic of the Congo, Tunisia, Mauritius and Ghana lagged somewhat behind, together accounting for a further X%.

Mauritius, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2023, growing by X% against the previous year. Import price indicated a moderate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-chromium import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Africa ($X per ton), while Mauritius ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform