Asia-Pacific: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Asia-Pacific

The Asia-Pacific ferro-chromium market rose markedly to $X in 2023, picking up by X% against the previous year. The market value 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. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2023, consumption failed to regain momentum.

Ferro-Chromium Production in Asia-Pacific

In value terms, ferro-chromium production expanded notably to $X in 2023 estimated in export price. The total production indicated a buoyant 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, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of production peaked at $X in 2016; however, from 2017 to 2023, production remained at a lower figure.

Ferro-Chromium Exports

Exports in Asia-Pacific

In 2023, the amount of ferro-chromium exported in Asia-Pacific skyrocketed to X tons, increasing by X% on the previous year's figure. Total exports indicated a measured expansion from 2012 to 2023: its volume 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 growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The volume of export peaked in 2023 and is expected to retain growth in years to come.

In value terms, ferro-chromium exports soared to $X in 2023. Overall, exports posted a pronounced expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the near future.

Exports by Country

India dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by China (X tons), achieving a X% share of total exports.

Exports from India increased at an average annual rate of X% from 2012 to 2023. At the same time, China (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest ferro-chromium supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by China ($X), with an X% share of total exports.

In India, ferro-chromium exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, surging 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 appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while India totaled $X per ton.

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

Ferro-Chromium Imports

Imports in Asia-Pacific

In 2023, imports of ferro-chromium in Asia-Pacific surged to X tons, picking up by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ferro-chromium imports expanded significantly to $X in 2023. Total imports indicated a measured 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 when imports increased by X%. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

In 2023, China (X tons) was the key importer of ferro-chromium, constituting X% of total imports. Indonesia (X tons) took the second position in the ranking, followed by Japan (X tons) and South Korea (X tons). All these countries together took near X% share of total imports. 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-Pacific, 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 ($X) constitutes the largest market for imported ferro-chromium in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Japan ($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. In the other countries, the average annual rates were as follows: Japan (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per ton, falling by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of destination: 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