Poland: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Poland

For the sixth year in a row, the Polish iron oxide pigment market recorded growth in sales value, which increased by 25% to $X in 2021. Overall, consumption saw a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Iron Oxide Pigment Production in Poland

In value terms, iron oxide pigment production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 217% against the previous year. Iron oxide pigment production peaked at $X in 2020, and then reduced in the following year.

Iron Oxide Pigment Exports

Exports from Poland

Iron oxide pigment exports from Poland expanded notably to X tons in 2021, growing by 7.4% on the previous year. Over the period under review, total exports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +21.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 30%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, iron oxide pigment exports rose significantly to $X in 2021. In general, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +112.6% against 2015 indices. The growth pace was the most rapid in 2017 when exports increased by 30%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X tons) was the main destination for iron oxide pigment exports from Poland, accounting for a 81% share of total exports. Moreover, iron oxide pigment exports to China exceeded the volume sent to the second major destination, Ukraine (X tons), more than tenfold. The third position in this ranking was held by Russia (X tons), with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+0.7% per year) and Russia (-11.3% per year).

In value terms, China ($X) remains the key foreign market for iron oxide pigments exports from Poland, comprising 72% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 9.6% share of total exports. It was followed by Ukraine, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+108.7% per year) and Ukraine (+1.3% per year).

Export Prices by Country

The average iron oxide pigment export price stood at $X per ton in 2021, with an increase of 4.1% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Belarus ($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 Lithuania (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Oxide Pigment Imports

Imports into Poland

In 2021, imports of iron oxide pigments into Poland expanded remarkably to X tons, increasing by 5.9% against the previous year's figure. The total import volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 12% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, iron oxide pigment imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of iron oxide pigment to Poland, accounting for a 58% share of total imports. Moreover, iron oxide pigment imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X tons), fourfold. The third position in this ranking was held by Belgium (X tons), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+5.0% per year) and Belgium (+53.7% per year).

In value terms, Germany ($X) constituted the largest supplier of iron oxide pigments to Poland, comprising 62% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 6% share of total imports. It was followed by Belgium, with a 6% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+11.8% per year) and Belgium (+24.0% per year).

Import Prices by Country

The average iron oxide pigment import price stood at $X per ton in 2021, jumping by 36% against the previous year. Over the period under review, the import price, however, saw a mild reduction. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 the Netherlands ($X per ton), while the price for Austria ($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 (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :