Belgium: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in Belgium

In 2023, the Belgian ferro-chromium market decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Ferro-Chromium Exports

Exports from Belgium

In 2023, approx. X tons of ferro-chromium were exported from Belgium; increasing by X% against the previous year. Over the period under review, exports continue to indicate a pronounced expansion. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, ferro-chromium exports surged to $X in 2023. Overall, exports posted buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports attained the maximum in 2023 and are likely to see steady growth in the near future.

Exports by Country

France (X tons), the United States (X tons) and Austria (X tons) were the main destinations of ferro-chromium exports from Belgium, with a combined X% share of total exports. Germany, Finland, the Netherlands, Japan, Poland and Italy lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for ferro-chromium exported from Belgium were France ($X), the United States ($X) and Austria ($X), together comprising X% of total exports. Germany, Japan, Finland, the Netherlands, Italy and Poland lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Finland, 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 average ferro-chromium export price stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, export price indicated notable growth from 2012 to 2023: its price 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, ferro-chromium export price increased by X% against 2020 indices. The growth pace was the most rapid in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then declined slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Chromium Imports

Imports into Belgium

In 2023, purchases abroad of ferro-chromium decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, ferro-chromium imports reduced markedly to $X in 2023. Over the period under review, imports, however, recorded a slight increase. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2022, and then reduced dramatically in the following year.

Imports by Country

South Africa (X tons), the Netherlands (X tons) and Sweden (X tons) were the main suppliers of ferro-chromium imports to Belgium, together accounting for X% of total imports.

From 2012 to 2023, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest ferro-chromium suppliers to Belgium were South Africa ($X), the Netherlands ($X) and Sweden ($X), together comprising X% of total imports.

The Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average ferro-chromium import price stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, import price indicated a slight expansion from 2012 to 2023: its price 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, ferro-chromium import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2022, and then declined modestly in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform