Czech Republic: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in the Czech Republic

In 2021, after three years of growth, there was significant decline in the Czech iron oxide pigment market, when its value decreased by -16% to $X. Overall, the total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +64.1% against 2017 indices. Iron oxide pigment consumption peaked at $X in 2020, and then dropped significantly in the following year.

Iron Oxide Pigment Production in the Czech Republic

In value terms, iron oxide pigment production shrank to $X in 2021 estimated in export price. Over the period under review, production recorded a slight slump. The pace of growth appeared the most rapid in 2019 when the production volume increased by 59% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Iron Oxide Pigment Exports

Exports from the Czech Republic

In 2021, approx. X tons of iron oxide pigments were exported from the Czech Republic; with an increase of 12% compared with the year before. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 14% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, iron oxide pigment exports soared to $X in 2021. In general, exports, however, showed a mild reduction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons) was the main destination for iron oxide pigment exports from the Czech Republic, accounting for a 45% share of total exports. Moreover, iron oxide pigment exports to Russia exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. The third position in this ranking was taken by Poland (X tons), with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia totaled +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+5.8% per year) and Poland (-3.8% per year).

In value terms, Russia ($X) remains the key foreign market for iron oxide pigments exports from the Czech Republic, comprising 42% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 12% share of total exports. It was followed by Poland, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value to Russia stood at -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+4.7% per year) and Poland (-3.9% per year).

Export Prices by Country

The average iron oxide pigment export price stood at $X per ton in 2021, with an increase of 7.1% against the previous year. Over the period under review, the export price, however, showed a noticeable decline. The pace of growth was the most pronounced in 2020 an increase of 7.2% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+0.1%), while the prices for the other major destinations experienced a decline.

Iron Oxide Pigment Imports

Imports into the Czech Republic

In 2021, approx. X tons of iron oxide pigments were imported into the Czech Republic; increasing by 6.6% against 2020 figures. Overall, imports continue to indicate tangible growth. The pace of growth was the most pronounced in 2015 with an increase of 65% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, iron oxide pigment imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +9.9% against 2018 indices. The pace of growth was the most pronounced in 2014 when imports increased by 81%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Sweden (X tons), Germany (X tons) and China (X tons) were the main suppliers of iron oxide pigment imports to the Czech Republic, together accounting for 83% of total imports. These countries were followed by Poland, France, Italy and Canada, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +25.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron oxide pigment suppliers to the Czech Republic were Germany ($X), France ($X) and China ($X), with a combined 73% share of total imports. Sweden, Poland, Italy and Canada lagged somewhat behind, together comprising a further 18%.

Among the main suppliers, Italy, with a CAGR of +24.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average iron oxide pigment import price amounted to $X per ton, increasing by 9.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 61% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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