Canada: Carbides Market 2024

Carbides Market Size in Canada

The Canadian carbides market reduced to $X in 2022, with a decrease of -5.5% against the previous year. In general, consumption saw a drastic downturn. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Carbides Production in Canada

In value terms, carbides production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt curtailment. The growth pace was the most rapid in 2014 when the production volume increased by 73%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Carbides Exports

Exports from Canada

In 2022, approx. X tons of carbides were exported from Canada; increasing by 4% compared with the year before. Over the period under review, exports recorded a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 108%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, carbides exports expanded remarkably to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 101% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for carbides exports from Canada, with a 89% share of total exports. Moreover, carbides exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold. Ireland (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1.3% per year) and Ireland (+58.8% per year).

In value terms, the United States ($X) remains the key foreign market for carbides exports from Canada, comprising 65% of total exports. The second position in the ranking was taken by Japan ($X), with a 15% share of total exports. It was followed by Ireland, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1.9% per year) and Ireland (+51.3% per year).

Export Prices by Country

The average carbides export price stood at $X per ton in 2022, growing by 7.1% against the previous year. In general, the export price, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 26%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United States ($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 Japan (+0.6%), while the prices for the other major destinations experienced a decline.

Carbides Imports

Imports into Canada

Carbides imports into Canada declined to X tons in 2022, with a decrease of -2.2% compared with the previous year. Overall, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2019 when imports increased by 26%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, carbides imports surged to $X in 2022. Over the period under review, imports continue to indicate a perceptible setback. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest carbides supplier to Canada, accounting for a 82% share of total imports. Moreover, carbides imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. Brazil (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.6% per year) and Brazil (+0.2% per year).

In value terms, the largest carbides suppliers to Canada were China ($X), the United States ($X) and Brazil ($X), together accounting for 88% of total imports.

China, with a CAGR of +3.3%, saw the highest rates of growth with regard to 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 carbides import price stood at $X per ton in 2022, surging by 47% against the previous year. Overall, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carbides import price increased by +65.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 63%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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