Asia: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Asia

The Asian ferro-chromium market surged to $X in 2023, picking up by X% against the previous year. The total consumption indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ferro-Chromium Production in Asia

In value terms, ferro-chromium production surged to $X in 2023 estimated in export price. The total production indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Over the period under review, production hit record highs in 2023 and is expected to retain growth in the near future.

Ferro-Chromium Exports

Exports in Asia

In 2023, approx. X tons of ferro-chromium were exported in Asia; waning by X% against 2022 figures. In general, exports showed a pronounced downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, ferro-chromium exports fell to $X in 2023. Over the period under review, exports showed a mild setback. The pace of growth was the most pronounced in 2017 when exports increased by X%. The level of export peaked at $X in 2022, and then reduced in the following year.

Exports by Country

Kazakhstan (X tons) and India (X tons) dominates exports structure, together committing X% of total exports. The following exporters - Turkey (X tons), China (X tons) and Oman (X tons) - each reached an X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Oman (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), India ($X) and Turkey ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports. China and Oman lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, reducing by X% against the previous year. Export price indicated mild growth 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 export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Ferro-Chromium Imports

Imports in Asia

In 2023, the amount of ferro-chromium imported in Asia skyrocketed to X tons, with an increase of X% on 2022 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ferro-chromium imports rose significantly to $X in 2023. Total imports indicated a temperate expansion 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to continue growth in the immediate term.

Imports by Country

China represented the key importing country with an import of around X tons, which recorded X% of total imports. Indonesia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%) and South Korea (X%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to ferro-chromium 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 Asia, with a CAGR of X% from 2012-2023. South Korea experienced a relatively flat trend pattern. By contrast, Japan (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Indonesia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Taiwan (Chinese) (X p.p.), South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported ferro-chromium in Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by Indonesia, with an X% share.

In China, ferro-chromium imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and Indonesia (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, reducing by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then shrank in the following year.

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 Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform