Africa: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in Africa

The African chromium ore and concentrate market fell significantly to $X in 2022, which is down by -60.6% against the previous year. Overall, consumption continues to indicate a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Chromium Ores and Concentrates in Africa

In value terms, chromium ore and concentrate production fell to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 42% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Chromium Ores and Concentrates

Exports in Africa

In 2022, the amount of chromium ores and concentrates exported in Africa totaled X tons, approximately equating the previous year. Overall, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 45%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, chromium ore and concentrate exports surged to $X in 2022. In general, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 63% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

South Africa prevails in exports structure, recording X tons, which was approx. 97% of total exports in 2022. Zimbabwe (X tons) took a little share of total exports.

Exports from South Africa increased at an average annual rate of +9.4% from 2012 to 2022. At the same time, Zimbabwe (+13.7%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing exporter exported in Africa, with a CAGR of +13.7% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest chromium ore and concentrate supplier in Africa, comprising 98% of total exports. The second position in the ranking was held by Zimbabwe ($X), with a 1.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in South Africa totaled +8.0%.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, rising by 19% against the previous year. In general, the export price, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2017 when the export price increased by 26%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Zimbabwe stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-1.3%).

Imports of Chromium Ores and Concentrates

Imports in Africa

Chromium ore and concentrate imports fell sharply to X tons in 2022, dropping by -99.7% against 2021. Over the period under review, imports continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2016 when imports increased by 500% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, chromium ore and concentrate imports declined significantly to $X in 2022. In general, imports saw a dramatic decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 264%. The level of import peaked at $X in 2021, and then dropped sharply in the following year.

Imports by Country

South Africa represented the main importer of chromium ores and concentrates in Africa, with the volume of imports recording X tons, which was near 68% of total imports in 2022. Seychelles (X tons) ranks second in terms of the total imports with a 13% share, followed by Tunisia (6.8%). The following importers - Egypt (X tons), Morocco (X tons) and Nigeria (X tons) - together made up 6.8% of total imports.

Imports into South Africa increased at an average annual rate of +7.7% from 2012 to 2022. At the same time, Tunisia (+27.3%), Seychelles (+13.7%) and Egypt (+9.4%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing importer imported in Africa, with a CAGR of +27.3% from 2012-2022. Morocco experienced a relatively flat trend pattern. By contrast, Nigeria (-1.7%) illustrated a downward trend over the same period. While the share of South Africa (+65 p.p.), Seychelles (+13 p.p.), Tunisia (+6.7 p.p.), Egypt (+3 p.p.), Morocco (+1.7 p.p.) and Nigeria (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported chromium ores and concentrates in Africa, comprising 40% of total imports. The second position in the ranking was held by Tunisia ($X), with a 16% share of total imports. It was followed by Egypt, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to -3.1%. The remaining importing countries recorded the following average annual rates of imports growth: Tunisia (+22.7% per year) and Egypt (+5.8% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, surging by 20% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chromium ore and concentrate import price increased by +54.9% against 2020 indices. The growth pace was the most rapid in 2015 when the import price increased by 57%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Seychelles ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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