Asia-Pacific: Chromates Market 2024

Chromates Market Size in Asia-Pacific

The Asia-Pacific chromates market contracted notably to $X in 2022, declining by -18.4% against the previous year. Over the period under review, consumption saw a pronounced shrinkage. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Chromates Production in Asia-Pacific

In value terms, chromates production shrank rapidly to $X in 2022 estimated in export price. In general, production, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 966% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Chromates Exports

Exports in Asia-Pacific

In 2022, the amount of chromates, dichromates and peroxochromates exported in Asia-Pacific declined to X tons, with a decrease of -8.1% compared with 2021 figures. In general, exports saw a slight downturn. The growth pace was the most rapid in 2014 when exports increased by 57%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, chromates exports expanded markedly to $X in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 36%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, China (X tons) was the main exporter of chromates, dichromates and peroxochromates, achieving 51% of total exports. India (X tons) held the second position in the ranking, distantly followed by South Korea (X tons) and Japan (X tons). All these countries together took near 45% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +2.5%), while the other leaders experienced a decline in the exports figures.

In value terms, China ($X), India ($X) and South Korea ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 90% of total exports.

In terms of the main exporting countries, China, with a CAGR of +1.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, jumping by 22% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 31% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.6%), while the other leaders experienced mixed trends in the export price figures.

Chromates Imports

Imports in Asia-Pacific

After two years of growth, overseas purchases of chromates, dichromates and peroxochromates decreased by -24.6% to X tons in 2022. In general, imports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2016 with an increase of 36%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, chromates imports declined to $X in 2022. Overall, imports showed a noticeable descent. The most prominent rate of growth was recorded in 2017 when imports increased by 19% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan represented the main importing country with an import of around X tons, which reached 40% of total imports. China (X tons) held the second position in the ranking, distantly followed by India (X tons) and Thailand (X tons). All these countries together held near 50% share of total imports. South Korea (X tons) and Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +3.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported chromates, dichromates and peroxochromates in Asia-Pacific, comprising 41% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by India, with a 14% share.

In Japan, chromates imports decreased by an average annual rate of -1.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: China (-3.2% per year) and India (-4.2% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, rising by 21% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 South Korea ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :