Asia: Chromium Market 2021

Chromium Market Size in Asia

In 2020, the Asian chromium market increased by X% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, consumption posted a remarkable increase. The most prominent rate of growth was recorded in 2011 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs in 2020 and is likely to see gradual growth in years to come.

Chromium Production in Asia

In value terms, chromium production rose significantly to $X in 2020 estimated in export prices. Overall, production enjoyed resilient growth. The growth pace was the most rapid in 2011 when the production volume increased by X% against the previous year. The level of production peaked in 2020 and is expected to retain growth in years to come.

Production By Country in Asia

The countries with the highest volumes of chromium production in 2020 were Turkey (X tons), Kazakhstan (X tons) and India (X tons), with a combined X% share of total production.

From 2007 to 2020, the most notable rate of growth in terms of chromium production, amongst the leading producing countries, was attained by Turkey, while chromium production for the other leaders experienced more modest paces of growth.

Chromium Exports

Exports in Asia

In 2020, approx. X tons of chromium were exported in Asia; declining by -X% on 2019 figures. Overall, exports showed a deep downturn. The most prominent rate of growth was recorded in 2010 when exports increased by X% year-to-year. The volume of export peaked at X tons in 2018; however, from 2019 to 2020, exports stood at a somewhat lower figure.

In value terms, chromium exports contracted notably to $X in 2020. In general, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2018 when exports increased by X% year-to-year. As a result, exports reached the peak of $X. From 2019 to 2020, the growth exports failed to regain the momentum.

Exports by Country

In 2020, China (X tons) was the largest exporter of chromium, comprising X% of total exports. It was distantly followed by Japan (X tons) and India (X tons), together generating a X% share of total exports. South Korea (X tons), Turkey (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2007 to 2020, average annual rates of growth with regard to chromium exports from China stood at -X%. At the same time, India (+X%), Turkey (+X%) and Singapore (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +X% from 2007-2020. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-X%) illustrated a downward trend over the same period. India (+X p.p.), Japan (+X p.p.), Turkey (+X p.p.) and Singapore (+X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -X% from 2007 to 2020, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest chromium supplier in Asia, comprising X% of total exports. The second position in the ranking was occupied by Japan ($X), with a X% share of total exports. It was followed by India, with a X% share.

In China, chromium exports plunged by an average annual rate of -X% over the period from 2007-2020. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+X% per year) and India (+X% per year).

Export Prices by Country

The chromium export price in Asia stood at $X per ton in 2020, falling by -X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2008 an increase of X% against the previous year. Over the period under review, export prices hit record highs at $X per ton in 2011; however, from 2012 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Turkey, while the other leaders experienced more modest paces of growth.

Chromium Imports

Imports in Asia

In 2020, supplies from abroad of chromium decreased by -X% to X tons, falling for the second consecutive year after two years of growth. Total imports indicated a tangible expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2018 indices. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

In value terms, chromium imports contracted dramatically to $X in 2020. Total imports indicated slight growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2018 indices. The pace of growth was the most pronounced in 2010 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Japan was the largest importing country with an import of about X tons, which accounted for X% of total imports. It was distantly followed by South Korea (X tons), India (X tons) and Taiwan (Chinese) (X tons), together comprising a X% share of total imports. The following importers - Turkey (X tons) and China (X tons) - together made up X% of total imports.

From 2007 to 2020, average annual rates of growth with regard to chromium imports into Japan stood at -X%. At the same time, Turkey (+X%), India (+X%), Taiwan (Chinese) (+X%), South Korea (+X%) and China (+X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2007-2020. From 2007 to 2020, the share of India, Taiwan (Chinese), Turkey and South Korea increased by +X%, +X%, +X% and +X% percentage points, while Japan (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported chromium in Asia, comprising X% of total imports. The second position in the ranking was occupied by India ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2007 to 2020, the average annual growth rate of value in Japan amounted to -X%. The remaining importing countries recorded the following average annual rates of imports growth: India (+X% per year) and South Korea (+X% per year).

Import Prices by Country

The chromium import price in Asia stood at $X per ton in 2020, declining by -X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2011 when the import price increased by X% year-to-year. As a result, import price attained the peak level of $X per ton. From 2012 to 2020, the growth in terms of the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was China ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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