Brazil: Chromates Market 2024

Chromates Market Size in Brazil

The Brazilian chromates market shrank to $X in 2022, reducing by -9.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a deep slump. Chromates consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Chromates Exports

Exports from Brazil

In 2022, exports of chromates, dichromates and peroxochromates from Brazil reduced slightly to X tons, with a decrease of -4.3% compared with the previous year's figure. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 476%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, chromates exports reduced modestly to $X in 2022. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 139%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted slightly in the following year.

Exports by Country

Pakistan (X tons) was the main destination for chromates exports from Brazil, with a 81% share of total exports. Moreover, chromates exports to Pakistan exceeded the volume sent to the second major destination, Mexico (X kg), eightfold. The third position in this ranking was held by the United States (X kg), with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume to Pakistan totaled +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+45.4% per year) and the United States (+47.6% per year).

In value terms, Pakistan ($X) remains the key foreign market for chromates, dichromates and peroxochromates exports from Brazil, comprising 82% of total exports. The second position in the ranking was taken by Mexico ($X), with an 8.3% share of total exports. It was followed by the United States, with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Pakistan amounted to +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+35.5% per year) and the United States (+41.2% per year).

Export Prices by Country

In 2022, the average chromates export price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price saw a slight increase. The pace of growth appeared the most rapid in 2016 an increase of 300%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Bolivia ($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 Argentina (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

Chromates Imports

Imports into Brazil

In 2022, overseas purchases of chromates, dichromates and peroxochromates decreased by -16% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports saw a noticeable descent. The pace of growth appeared the most rapid in 2021 when imports increased by 52% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, chromates imports dropped to $X in 2022. Overall, imports saw a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 61%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Africa (X tons) constituted the largest chromates supplier to Brazil, accounting for a 65% share of total imports. Moreover, chromates imports from South Africa exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), twofold. The third position in this ranking was taken by Russia (X tons), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa amounted to +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+33.5% per year) and Russia (-26.1% per year).

In value terms, South Africa ($X), Kazakhstan ($X) and Russia ($X) were the largest chromates suppliers to Brazil, with a combined 91% share of total imports.

Kazakhstan, with a CAGR of +37.3%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average chromates import price stood at $X per ton in 2022, rising by 9.7% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2017 when the average import price increased by 13% against the previous year. Over the period under review, average 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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