Eastern Asia: Ferro-Silicon Market 2024

Ferro-Silicon Market Size in Eastern Asia

The East Asian ferro-silicon market stood at $X in 2023, growing by X% against the previous year. In general, consumption, however, recorded a perceptible descent. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Ferro-Silicon Production in Eastern Asia

In value terms, ferro-silicon production expanded remarkably to $X in 2023 estimated in export price. Overall, production, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

Ferro-Silicon Exports

Exports in Eastern Asia

In 2023, shipments abroad of ferro-silicon decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of export peaked at X tons in 2022, and then fell sharply in the following year.

In value terms, ferro-silicon exports contracted markedly to $X in 2023. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then fell notably in the following year.

Exports by Country

China dominates exports structure, amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by Democratic People's Republic of Korea (X tons), committing an X% share of total exports. Japan (X tons) held a little share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of ferro-silicon. At the same time, Democratic People's Republic of Korea (X%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Japan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Democratic People's Republic of Korea increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest ferro-silicon supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Democratic People's Republic of Korea ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Democratic People's Republic of Korea (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then contracted notably 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 Japan ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Ferro-Silicon Imports

Imports in Eastern Asia

In 2023, the amount of ferro-silicon imported in Eastern Asia declined slightly to X tons, which is down by X% against the year before. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, ferro-silicon imports declined remarkably to $X in 2023. Total imports indicated a slight increase 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. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then fell remarkably in the following year.

Imports by Country

Japan (X tons) and South Korea (X tons) represented roughly X% of total imports in 2023. Taiwan (Chinese) (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by China (X%).

From 2012 to 2023, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest ferro-silicon importing markets in Eastern Asia were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), together comprising X% of total imports.

Among the main importing countries, Taiwan (Chinese), with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. Import price indicated a mild expansion 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-silicon import price increased by X% against 2020 indices. The pace of growth appeared the most rapid 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 contracted significantly 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 ($X per ton), while China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform