China: Chromates Market 2024

Chromates Market Size in China

After two years of decline, the Chinese chromates market increased by 29% to $X in 2022. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Chromates Production in China

In value terms, chromates production declined markedly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a significant expansion. Chromates production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Chromates Exports

Exports from China

In 2022, overseas shipments of chromates, dichromates and peroxochromates were finally on the rise to reach X tons after two years of decline. Over the period under review, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, chromates exports surged to $X in 2022. Overall, total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +101.9% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons), Vietnam (X tons) and South Korea (X tons) were the main destinations of chromates exports from China, with a combined 52% share of total exports. Colombia, Uruguay, Peru, the United Arab Emirates, Indonesia, Ecuador and Pakistan lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +45.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chromates exported from China were Japan ($X), Vietnam ($X) and South Korea ($X), with a combined 56% share of total exports. Colombia, Peru, Uruguay, Indonesia, the United Arab Emirates, Ecuador and Pakistan lagged somewhat behind, together comprising a further 32%.

The United Arab Emirates, with a CAGR of +32.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 chromates export price amounted to $X per ton, increasing by 12% against the previous year. Over the period under review, the export price, however, recorded a mild reduction. The pace of growth was the most pronounced in 2021 an increase of 18%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Uruguay ($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 Pakistan (+1.4%), while the prices for the other major destinations experienced a decline.

Chromates Imports

Imports into China

In 2022, approx. X tons of chromates, dichromates and peroxochromates were imported into China; with an increase of 145% against the previous year's figure. Over the period under review, imports, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2020 when imports increased by 1,388%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, chromates imports soared to $X in 2022. In general, imports, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2020 when imports increased by 356% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X tons) constituted the largest supplier of chromates to China, with a 83% share of total imports. Moreover, chromates imports from South Africa exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), fivefold. The third position in this ranking was taken by Russia (X tons), with a 1.2% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+3.5% per year) and Russia (-33.7% per year).

In value terms, South Africa ($X) constituted the largest supplier of chromates, dichromates and peroxochromates to China, comprising 77% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with an 18% share of total imports. It was followed by Russia, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value from South Africa amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+2.8% per year) and Russia (-30.9% per year).

Import Prices by Country

In 2022, the average chromates import price amounted to $X per ton, stabilizing at the previous year. Overall, the import price, however, continues to indicate a slight slump. The pace of growth appeared the most rapid in 2019 when the average import price increased by 159%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

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 Russia ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+4.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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