Asia-Pacific: Chromium Market 2021

Chromium Market Size in Asia-Pacific

In 2020, the Asia-Pacific chromium market decreased by -X% to $X, falling for the second consecutive year after four years of growth. In general, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. As a result, consumption attained the peak level of $X. From 2012 to 2020, the growth of the market remained at a somewhat lower figure.

Chromium Production in Asia-Pacific

In value terms, chromium production fell markedly to $X in 2020 estimated in export prices. Overall, production, however, continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2011 with an increase of X% y-o-y. As a result, production reached the peak level of $X. From 2012 to 2020, production growth failed to regain the momentum.

Production By Country in Asia-Pacific

India (X tons) constituted the country with the largest volume of chromium production, comprising approx. X% of total volume. It was followed by Pakistan (X tons), with a X% share of total production.

From 2007 to 2020, the average annual growth rate of volume in India was relatively modest.

Chromium Exports

Exports in Asia-Pacific

In 2020, the amount of chromium exported in Asia-Pacific declined slightly to X tons, with a decrease of -X% against the previous year's figure. In general, exports recorded a deep slump. The growth pace was the most rapid in 2018 when exports increased by X% year-to-year. As a result, exports attained the peak of X tons. From 2019 to 2020, the growth exports remained at a lower figure.

In value terms, chromium exports fell dramatically to $X in 2020. Overall, exports saw a pronounced decrease. The pace of growth appeared the most rapid 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 remained at a somewhat lower figure.

Exports by Country

China was the largest exporting country with an export of around X tons, which recorded X% of total exports. Japan (X tons) took the second position in the ranking, followed by India (X tons). All these countries together took approx. X% share of total exports. South Korea (X tons) and Singapore (X tons) took a relatively small share of total exports.

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%) and Singapore (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, 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. While the share of India (+X p.p.), Japan (+X p.p.) and Singapore (+X p.p.) increased significantly in terms of the total exports from 2007-2020, the share of China (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, chromium exports declined 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-Pacific stood at $X per ton in 2020, which is down by -X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. Over the period under review, export prices attained the maximum at $X per ton in 2011; however, from 2012 to 2020, export prices failed to regain the momentum.

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

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

Chromium Imports

Imports in Asia-Pacific

In 2020, overseas purchases of chromium decreased by -X% to X tons, falling for the second consecutive year after two years of growth. Total imports indicated a mild increase from 2007 to 2020: its volume 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. 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 dropped remarkably to $X in 2020. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

Imports by Country

Japan was the largest importer of chromium in Asia-Pacific, with the volume of imports recording X tons, which was approx. X% of total imports in 2020. South Korea (X tons) held an X% share (based on tons) of total imports, which put it in second place, followed by India (X%) and Taiwan (Chinese) (X%). China (X tons) occupied a little share of total imports.

Imports into Japan decreased at an average annual rate of -X% from 2007 to 2020. At the same time, India (+X%), Taiwan (Chinese) (+X%), South Korea (+X%) and China (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +X% from 2007-2020. While the share of India (+X p.p.), Taiwan (Chinese) (+X p.p.) and South Korea (+X p.p.) increased significantly in terms of the total imports from 2007-2020, the share of Japan (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Japan, chromium imports declined by an average annual rate of -X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: India (+X% per year) and South Korea (+X% per year).

Import Prices by Country

In 2020, the chromium import price in Asia-Pacific amounted to $X per ton, which is down by -X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. As a result, import price reached the peak level of $X per ton. From 2012 to 2020, the growth in terms of the import prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per ton), while South Korea ($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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