Ireland: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Ireland

The Irish iron oxide pigment market skyrocketed to $X in 2021, picking up by 34% against the previous year. Overall, consumption saw prominent growth. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

Iron Oxide Pigment Production in Ireland

In value terms, iron oxide pigment production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, recorded buoyant growth. The growth pace was the most rapid in 2019 when the production volume increased by 294%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Iron Oxide Pigment Exports

Exports from Ireland

In 2021, approx. X tons of iron oxide pigments were exported from Ireland; growing by 65% against the previous year. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 814% 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 stood at a somewhat lower figure.

In value terms, iron oxide pigment exports soared to $X in 2021. Over the period under review, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 1,157% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hungary (X tons) was the main destination for iron oxide pigment exports from Ireland, with a 79% share of total exports. Moreover, iron oxide pigment exports to Hungary exceeded the volume sent to the second major destination, the UK (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Hungary totaled -6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+20.7% per year) and Germany (-57.8% per year).

In value terms, Hungary ($X), the UK ($X) and Germany ($X) appeared to be the largest markets for iron oxide pigment exported from Ireland worldwide, together accounting for 100% of total exports.

The UK, with a CAGR of +28.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average iron oxide pigment export price amounted to $X per ton, rising by 36% against the previous year. In general, the export price, however, showed a slight setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by 265%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Hungary ($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 Germany (+13.4%), while the prices for the other major destinations experienced mixed trend patterns.

Iron Oxide Pigment Imports

Imports into Ireland

In 2021, the amount of iron oxide pigments imported into Ireland soared to X tons, increasing by 60% compared with 2020 figures. In general, imports posted a buoyant increase. The growth pace was the most rapid in 2018 when imports increased by 68% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, iron oxide pigment imports soared to $X in 2021. Overall, imports showed a measured expansion. The pace of growth appeared the most rapid in 2018 with an increase of 59%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest iron oxide pigment supplier to Ireland, with a 56% share of total imports. Moreover, iron oxide pigment imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by the UK (X tons), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +27.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.3% per year) and the UK (+7.4% per year).

In value terms, the largest iron oxide pigment suppliers to Ireland were China ($X), Germany ($X) and the UK ($X), together accounting for 94% of total imports.

Among the main suppliers, China, with a CAGR of +31.6%, recorded the highest rates of growth with regard to 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, with a decrease of -5.7% against the previous year. In general, the import price showed a noticeable setback. The growth pace was the most rapid in 2019 an increase of 14%. The import price peaked at $X per ton in 2012; however, from 2013 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 Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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