Northern America: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Northern America

The North American iron oxide pigment market expanded significantly to $X in 2021, growing by 13% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Iron Oxide Pigment Production in Northern America

In value terms, iron oxide pigment production surged to $X in 2021 estimated in export price. Overall, production recorded a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 63%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Iron Oxide Pigment Exports

Exports in Northern America

Iron oxide pigment exports stood at X tons in 2021, increasing by 3.2% compared with the year before. Overall, exports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2015 with an increase of 39% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, iron oxide pigment exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a mild descent. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, the United States (X tons) was the main exporter of iron oxide pigments, achieving 82% of total exports. It was distantly followed by Canada (X tons), mixing up an 18% share of total exports.

Exports from the United States decreased at an average annual rate of -4.0% from 2012 to 2021. Canada (-2.6%) illustrated a downward trend over the same period. While the share of Canada (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United States (-1.8 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest iron oxide pigment supplier in Northern America, comprising 88% of total exports. The second position in the ranking was taken by Canada ($X), with a 12% share of total exports.

In the United States, iron oxide pigment exports declined by an average annual rate of -2.4% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, surging by 19% against the previous year. Export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron oxide pigment export price increased by +34.4% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 78%. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+6.6%).

Iron Oxide Pigment Imports

Imports in Northern America

In 2021, supplies from abroad of iron oxide pigments increased by 10% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron oxide pigment imports rose sharply to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

The United States prevails in imports structure, resulting at X tons, which was approx. 92% of total imports in 2021. It was distantly followed by Canada (X tons), creating an 8.4% share of total imports.

The United States was also the fastest-growing in terms of the iron oxide pigments imports, with a CAGR of +2.5% from 2012 to 2021. Canada experienced a relatively flat trend pattern. From 2012 to 2021, the share of the United States increased by +1.6 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported iron oxide pigments in Northern America, comprising 89% of total imports. The second position in the ranking was held by Canada ($X), with an 11% share of total imports.

In the United States, iron oxide pigment imports remained relatively stable over the period from 2012-2021.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, standing approx. at the previous year. Overall, the import price, however, showed a slight shrinkage. The pace of growth appeared the most rapid in 2018 an increase of 5.9% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-0.9%).

Source: IndexBox Platform

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