EU: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in the EU

In 2021, the EU iron oxide pigment market decreased by -2.5% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, enjoyed resilient growth. As a result, consumption reached the peak level of $X, and then reduced slightly in the following year.

Iron Oxide Pigment Production in the EU

In value terms, iron oxide pigment production shrank slightly to $X in 2021 estimated in export price. Overall, production, however, saw a perceptible expansion. The pace of growth was the most pronounced in 2018 with an increase of 158%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Iron Oxide Pigment Exports

Exports in the EU

In 2021, overseas shipments of iron oxide pigments were finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, recorded a abrupt shrinkage. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, iron oxide pigment exports stood at $X in 2021. In general, exports, however, recorded a drastic downturn. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Sweden (X tons), distantly followed by Belgium (X tons), Austria (X tons), France (X tons), Italy (X tons), Spain (X tons), the Netherlands (X tons) and the Czech Republic (X tons) represented the key exporters of iron oxide pigments, together mixing up 93% of total exports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +11.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the largest iron oxide pigment supplier in the European Union, comprising 28% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 13% share of total exports. It was followed by Belgium, with a 13% share.

In Italy, iron oxide pigment exports shrank by an average annual rate of -1.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+12.7% per year) and Belgium (+2.7% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, with a decrease of -5.7% against the previous year. Overall, the export price showed a perceptible curtailment. The pace of growth appeared the most rapid in 2016 when the export price increased by 10% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 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 Italy ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.8%), while the other leaders experienced more modest paces of growth.

Iron Oxide Pigment Imports

Imports in the EU

Iron oxide pigment imports stood at X tons in 2021, growing by 8.3% compared with the previous year. The total import volume increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 17%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, iron oxide pigment imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of iron oxide pigment imports in 2021 were Spain (X tons), Germany (X tons), the Netherlands (X tons), Italy (X tons), Poland (X tons), France (X tons) and Belgium (X tons), together reaching 83% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Netherlands (with a CAGR of +5.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Spain ($X) constituted the countries with the highest levels of imports in 2021, together comprising 46% of total imports.

The Netherlands, with a CAGR of +6.9%, saw the highest rates of growth with regard to 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 the European Union stood at $X per ton in 2021, with an increase of 20% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2013; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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