Global Ferro-Chromium Market 2024

Ferro-Chromium Market Size

The global ferro-chromium market rose slightly to $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the global market remained at a somewhat lower figure.

Ferro-Chromium Production

In value terms, ferro-chromium production rose significantly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, global production reached the peak level at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Ferro-Chromium Exports

Exports

In 2023, approx. X tons of ferro-chromium were exported worldwide; increasing by X% against the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the global exports remained at a somewhat lower figure.

In value terms, ferro-chromium exports amounted to $X in 2023. Over the period under review, total exports indicated a notable increase 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the global exports reached the peak figure in 2023 and are expected to retain growth in the immediate term.

Exports by Country

South Africa represented the largest exporting country with an export of about X tons, which resulted at X% of total exports. Kazakhstan (X tons) ranks second in terms of the total exports with a X% share, followed by India (X%) and Zimbabwe (X%). Russia (X tons), Finland (X tons) and the Netherlands (X tons) held a relatively small 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%), Finland (X%) and India (X%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. The Netherlands experienced a relatively flat trend pattern. By contrast, Russia (X%) and Kazakhstan (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.), Zimbabwe (X p.p.) and India (X p.p.) increased significantly in terms of the global exports from 2012-2023, the share of Kazakhstan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Kazakhstan ($X) and India ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of global exports. Russia, the Netherlands, Zimbabwe and Finland lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

In 2023, the average ferro-chromium export price amounted to $X per ton, waning by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then declined 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 Russia ($X per ton), while Zimbabwe ($X per ton) was amongst the lowest.

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

Ferro-Chromium Imports

Imports

In 2023, approx. X tons of ferro-chromium were imported worldwide; with an increase of X% against the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of global imports remained at a somewhat lower figure.

In value terms, ferro-chromium imports fell to $X in 2023. Overall, total imports indicated a moderate 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Global imports peaked at $X in 2022, and then shrank in the following year.

Imports by Country

In 2023, China (X tons) was the key importer of ferro-chromium, constituting 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%), South Korea (X%) and the United States (X%). The following importers - Belgium (X tons), the Netherlands (X tons), Taiwan (Chinese) (X tons) and Spain (X tons) - together made up X% of total imports.

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%) and the Netherlands (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. South Korea and Belgium experienced a relatively flat trend pattern. By contrast, Japan (X%), the United States (X%), Spain (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Indonesia (X p.p.) and the Netherlands (X p.p.) increased significantly in terms of the global imports from 2012-2023, the share of Spain (X p.p.), Taiwan (Chinese) (X p.p.), the United States (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, ferro-chromium imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Japan (X% per year) and Indonesia (X% per year).

Import Prices by Country

The average ferro-chromium import price stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Global import price peaked at $X per ton in 2022, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform