Central Asia: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Central Asia

For the tenth year in a row, the Central Asian iron oxide pigment market recorded growth in sales value, which increased by 9.2% to $X in 2021. Overall, consumption, however, saw resilient growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Iron Oxide Pigment Production in Central Asia

In value terms, iron oxide pigment production fell to $X in 2021 estimated in export price. In general, production, however, showed strong growth. The growth pace was the most rapid in 2017 with an increase of 86% against the previous year. The level of production peaked at $X in 2020, and then declined in the following year.

Iron Oxide Pigment Exports

Exports in Central Asia

In 2021, the amount of iron oxide pigments exported in Central Asia fell to X tons, with a decrease of -12.5% on 2020. Over the period under review, exports, however, showed a significant increase. The growth pace was the most rapid in 2017 with an increase of 6,071%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, iron oxide pigment exports soared to $X in 2021. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 2,900% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Uzbekistan dominates exports structure, reaching X tons, which was near 95% of total exports in 2021. It was distantly followed by Kazakhstan (X tons), committing a 4.8% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to iron oxide pigment exports from Uzbekistan stood at -14.9%. At the same time, Kazakhstan (+5.4%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +5.4% from 2012-2021. Uzbekistan (+95 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -95.2% from 2012 to 2021, respectively.

In value terms, Uzbekistan ($X) remains the largest iron oxide pigment supplier in Central Asia, comprising 91% of total exports. The second position in the ranking was held by Kazakhstan ($X), with an 8.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Uzbekistan amounted to -3.9%.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, growing by 70% against the previous year. In general, the export price, however, saw a pronounced reduction. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+12.9%).

Iron Oxide Pigment Imports

Imports in Central Asia

In 2021, purchases abroad of iron oxide pigments decreased by -0.5% to X tons, falling for the third consecutive year after two years of growth. Overall, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2017 with an increase of 97% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, iron oxide pigment imports expanded markedly to $X in 2021. Over the period under review, imports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2017 when imports increased by 64% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

Kazakhstan was the major importer of iron oxide pigments in Central Asia, with the volume of imports amounting to X tons, which was approx. 58% of total imports in 2021. Uzbekistan (X tons) ranks second in terms of the total imports with a 32% share, followed by Kyrgyzstan (5.9%). Tajikistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Tajikistan (with a CAGR of +15.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Uzbekistan ($X) and Kyrgyzstan ($X) were the countries with the highest levels of imports in 2021, together accounting for 98% of total imports.

Uzbekistan, with a CAGR of +24.2%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, growing by 12% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 25% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+24.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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