China: Carbides Market 2024

Carbides Market Size in China

The Chinese carbides market fell modestly to $X in 2022, with a decrease of -4.4% against the previous year. Overall, consumption saw a noticeable setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Carbides Production in China

In value terms, carbides production declined to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Carbides Exports

Exports from China

In 2022, shipments abroad of carbides increased by 7.7% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, carbides exports soared to $X in 2022. Overall, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +115.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 65%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The United States (X tons) was the main destination for carbides exports from China, with a 28% share of total exports. Moreover, carbides exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), twofold. The third position in this ranking was held by India (X tons), with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1.2% per year) and India (+0.7% per year).

In value terms, Japan ($X), the United States ($X) and South Korea ($X) constituted the largest markets for carbides exported from China worldwide, together accounting for 52% of total exports. India, the Netherlands, Thailand, Mexico, Turkey, the Philippines, Pakistan and Nigeria lagged somewhat behind, together accounting for a further 21%.

Among the main countries of destination, the Netherlands, with a CAGR of +38.9%, recorded 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 carbides export price amounted to $X per ton, with an increase of 21% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 22%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Pakistan ($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 Nigeria (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Carbides Imports

Imports into China

Carbides imports into China skyrocketed to X tons in 2022, with an increase of 176% compared with 2021 figures. Over the period under review, imports saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, carbides imports surged to $X in 2022. Overall, imports showed strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 51%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Japan (X tons), Norway (X tons) and Germany (X tons) were the main suppliers of carbides imports to China, with a combined 9.3% share of total imports. Australia, South Korea, the United States and Spain lagged somewhat behind, together comprising a further 1.2%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +79.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest carbides suppliers to China were Japan ($X), Norway ($X) and Germany ($X), with a combined 42% share of total imports. South Korea, the United States, Spain and Australia lagged somewhat behind, together comprising a further 8.4%.

Australia, with a CAGR of +65.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average carbides import price stood at $X per ton in 2022, which is down by -46.4% against the previous year. Over the period under review, the import price saw a noticeable downturn. The most prominent rate of growth was recorded in 2020 when the average import price increased by 97%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average 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 the United States ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :