Central Asia: Ferro-Silicon Market 2024

Ferro-Silicon Market Size in Central Asia

In 2022, the Central Asian ferro-silicon market decreased by -13.5% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a significant expansion. The level of consumption peaked at $X in 2021, and then fell in the following year.

Ferro-Silicon Production in Central Asia

In value terms, ferro-silicon production declined to $X in 2022 estimated in export price. Over the period under review, production, however, showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 21,156% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Ferro-Silicon Exports

Exports in Central Asia

After two years of decline, shipments abroad of ferro-silicon decreased by -53.2% to X tons in 2022. Over the period under review, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 7,199% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, ferro-silicon exports fell notably to $X in 2022. Overall, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 5,191% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kazakhstan dominates exports structure, resulting at X tons, which was approx. 95% of total exports in 2022. It was distantly followed by Uzbekistan (X tons), mixing up a 5% share of total exports.

Kazakhstan was also the fastest-growing in terms of the ferro-silicon exports, with a CAGR of +58.6% from 2013 to 2022. Uzbekistan (-78.9%) illustrated a downward trend over the same period. Uzbekistan (+5 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -5% from 2013 to 2022, respectively.

In value terms, Kazakhstan ($X) remains the largest ferro-silicon supplier in Central Asia, comprising 92% of total exports. The second position in the ranking was held by Uzbekistan ($X), with an 8.2% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value in Kazakhstan amounted to +51.7%.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the export price, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2017 an increase of 34%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Uzbekistan ($X per ton), while Kazakhstan totaled $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+31.1%).

Ferro-Silicon Imports

Imports in Central Asia

In 2022, overseas purchases of ferro-silicon increased by 71% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2021 with an increase of 435%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, ferro-silicon imports surged to $X in 2022. Overall, imports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2021 with an increase of 887%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Kazakhstan dominates imports structure, finishing at X tons, which was approx. 88% of total imports in 2022. It was distantly followed by Mongolia (X tons), comprising a 5.3% share of total imports. Uzbekistan (X tons) and Turkmenistan (X tons) followed a long way behind the leaders.

Imports into Kazakhstan decreased at an average annual rate of -5.0% from 2012 to 2022. At the same time, Mongolia (+38.4%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +38.4% from 2012-2022. Turkmenistan experienced a relatively flat trend pattern. By contrast, Uzbekistan (-22.7%) illustrated a downward trend over the same period. While the share of Kazakhstan (+16 p.p.), Mongolia (+5.2 p.p.) and Turkmenistan (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Uzbekistan (-22.4 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) constitutes the largest market for imported ferro-silicon in Central Asia, comprising 89% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a 6.9% share of total imports. It was followed by Mongolia, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan was relatively modest. In the other countries, the average annual rates were as follows: Uzbekistan (-15.3% per year) and Mongolia (+34.3% per year).

Import Prices by Country

In 2022, the import price in Central Asia amounted to $X per ton, approximately equating the previous year. Overall, the import price, however, showed perceptible growth. The pace of growth appeared the most rapid in 2021 an increase of 85%. As a result, import price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uzbekistan ($X per ton), while Turkmenistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+9.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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