Belgium: Chromates Market 2024

Chromates Market Size in Belgium

The Belgian chromates market soared to $X in 2022, jumping by 34% against the previous year. In general, consumption, however, showed a abrupt setback. Chromates consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Chromates Production in Belgium

In value terms, chromates production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 40% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Chromates Exports

Exports from Belgium

In 2022, shipments abroad of chromates, dichromates and peroxochromates decreased by -79.8% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports recorded a dramatic descent. The most prominent rate of growth was recorded in 2020 with an increase of 829%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, chromates exports reduced notably to $X in 2022. Overall, exports faced a sharp descent. The most prominent rate of growth was recorded in 2020 with an increase of 729% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons), Cyprus (X tons) and Spain (X tons) were the main destinations of chromates exports from Belgium, with a combined 67% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cyprus (with a CAGR of +173.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chromates exported from Belgium were Cyprus ($X), France ($X) and Germany ($X), with a combined 56% share of total exports.

Among the main countries of destination, Cyprus, with a CAGR of +155.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average chromates export price amounted to $X per ton, with an increase of 26% against the previous year. Over the period under review, the export price enjoyed a pronounced increase. The pace of growth was the most pronounced in 2015 an increase of 71% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+10.0%), while the prices for the other major destinations experienced a decline.

Chromates Imports

Imports into Belgium

In 2022, the amount of chromates, dichromates and peroxochromates imported into Belgium dropped modestly to X tons, with a decrease of -3% on 2021 figures. In general, imports saw a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 1,003%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, chromates imports fell dramatically to $X in 2022. Overall, imports recorded a deep contraction. The pace of growth was the most pronounced in 2020 when imports increased by 571% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X tons) constituted the largest chromates supplier to Belgium, accounting for a 75% share of total imports. Moreover, chromates imports from South Africa exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. Cyprus (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Africa stood at -10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-16.8% per year) and Cyprus (0.0% per year).

In value terms, South Africa ($X), Cyprus ($X) and Germany ($X) constituted the largest chromates suppliers to Belgium, with a combined 76% share of total imports. The Netherlands and India lagged somewhat behind, together accounting for a further 18%.

Among the main suppliers, the Netherlands, with a CAGR of +0.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average chromates import price amounted to $X per ton, shrinking by -33% against the previous year. Overall, the import price continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when the average import price increased by 70%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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