Report Update Nov 1, 2024

Ecuador - Chromium Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Ecuador: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in Ecuador

The Ecuadorian chromium ore and concentrate market shrank markedly to $X in 2022, waning by -48.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed strong growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Exports of Chromium Ores and Concentrates

Exports from Ecuador

In 2022, shipments abroad of chromium ores and concentrates decreased by -8.3% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, posted a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 630% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, chromium ore and concentrate exports contracted modestly to $X in 2022. In general, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 329% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X tons) was the main destination for chromium ore and concentrate exports from Ecuador, accounting for a 83% share of total exports. Moreover, chromium ore and concentrate exports to Peru exceeded the volume sent to the second major destination, Colombia (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru amounted to +27.1%.

In value terms, Colombia ($X) and Peru ($X) appeared to be the largest markets for chromium ore and concentrate exported from Ecuador worldwide.

Among the main countries of destination, Colombia, with a CAGR of +23.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average chromium ore and concentrate export price stood at $X per ton in 2022, surging by 8.9% against the previous year. Overall, the export price, however, continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2016 an increase of 92%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Peru stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (-1.3%).

Imports of Chromium Ores and Concentrates

Imports into Ecuador

In 2022, imports of chromium ores and concentrates into Ecuador shrank dramatically to X tons, dropping by -25.4% against the year before. Overall, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of 129%. Over the period under review, imports reached the maximum at X tons in 2021, and then fell significantly in the following year.

In value terms, chromium ore and concentrate imports reduced dramatically to $X in 2022. In general, imports, however, posted a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of 134%. Imports peaked at $X in 2021, and then fell notably in the following year.

Imports by Country

In 2022, South Africa (X tons) constituted the largest chromium ore and concentrate supplier to Ecuador, accounting for a 65% share of total imports. Moreover, chromium ore and concentrate imports from South Africa exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. The third position in this ranking was taken by Peru (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa totaled +38.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+14.0% per year) and Peru (+22.3% per year).

In value terms, the largest chromium ore and concentrate suppliers to Ecuador were the Netherlands ($X), South Africa ($X) and Peru ($X), with a combined 89% share of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +28.6%, 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

The average chromium ore and concentrate import price stood at $X per ton in 2022, reducing by -3.1% against the previous year. Overall, the import price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2015 an increase of 20% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 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 Netherlands ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+45.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for chromium ores and concentrates in the world?

China constituted the country with the largest volume of chromium ore and concentrate consumption, accounting for 37% of total volume. Moreover, chromium ore and concentrate consumption in China exceeded the figures recorded by the second-largest consumer, Kazakhstan, threefold. The third position in this ranking was occupied by Turkey, with an 11% share.

What are the largest producers of chromium ores and concentrates in the world?

South Africa constituted the country with the largest volume of chromium ore and concentrate production, comprising approx. 44% of total volume. Moreover, chromium ore and concentrate production in South Africa exceeded the figures recorded by the second-largest producer, Kazakhstan, threefold. The third position in this ranking was occupied by Turkey, with a 17% share.

What are the leading suppliers of chromium ores and concentrates to Ecuador?

In value terms, the Netherlands, Brazil and the United States were the largest chromium ore and concentrate suppliers to Ecuador, together comprising 87% of total imports.

What are the leading importers of chromium ores and concentrates from Ecuador?

In value terms, Colombia and Peru constituted the largest markets for chromium ore and concentrate exported from Ecuador worldwide.

What is the average export price for chromium ores and concentrates in Ecuador?

In 2021, the average chromium ore and concentrate export price amounted to $197 per ton, standing approx. at the previous year.

What is the average import price for chromium ores and concentrates in Ecuador?

In 2021, the average chromium ore and concentrate import price amounted to $611 per ton, growing by 10% against the previous year.

This report provides an in-depth analysis of the market for chromium ore and concentrate in Ecuador. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Ecuador

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ecuador
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023