ASEAN: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in ASEAN

The ASEAN ferro-chromium market surged to $X in 2023, rising by X% against the previous year. Overall, consumption saw a prominent expansion. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Ferro-Chromium Production in ASEAN

In value terms, ferro-chromium production surged to $X in 2023 estimated in export price. In general, production, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

Ferro-Chromium Exports

Exports in ASEAN

In 2023, approx. X tons of ferro-chromium were exported in ASEAN; growing by X% compared with 2022 figures. In general, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, ferro-chromium exports skyrocketed to $X in 2023. Overall, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2014 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

Vietnam represented the main exporting country with an export of about X tons, which resulted at X% of total exports. Singapore (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (X%). Indonesia (X tons) followed a long way behind the leaders.

Exports from Vietnam decreased at an average annual rate of X% from 2012 to 2023. At the same time, Singapore (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Malaysia (X%) and Indonesia (X%) illustrated a downward trend over the same period. Singapore (X p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) emerged as the largest ferro-chromium supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Malaysia, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Vietnam totaled X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, declining by X% against the previous year. Overall, the export price showed a perceptible decrease. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the export price figures.

Ferro-Chromium Imports

Imports in ASEAN

In 2023, the amount of ferro-chromium imported in ASEAN soared to X tons, increasing by X% against 2022. Overall, imports enjoyed a strong increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, ferro-chromium imports skyrocketed to $X in 2023. In general, imports saw buoyant growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

Indonesia dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2023. Thailand (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the ferro-chromium imports, with a CAGR of X% from 2012 to 2023. At the same time, Thailand (X%) displayed positive paces of growth. Indonesia (X p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Indonesia ($X) constitutes the largest market for imported ferro-chromium in ASEAN, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Indonesia stood at X%.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, reducing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then reduced slightly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Thailand ($X per ton), while Indonesia amounted to $X per ton.

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

Source: IndexBox Platform