Russian Federation: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in the Russian Federation

In 2021, the Russian iron oxide pigment market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Iron Oxide Pigment Production in the Russian Federation

In value terms, iron oxide pigment production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.9% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 28%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Iron Oxide Pigment Exports

Exports from the Russian Federation

Iron oxide pigment exports from Russia contracted to X tons in 2021, waning by -5.4% against the previous year. In general, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by 73% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, iron oxide pigment exports surged to $X in 2021. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 +33.5% against 2019 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 61% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Kazakhstan (X tons) was the main destination for iron oxide pigment exports from Russia, accounting for a 64% share of total exports. Moreover, iron oxide pigment exports to Kazakhstan exceeded the volume sent to the second major destination, Belarus (X tons), threefold. Ukraine (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kazakhstan stood at +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+13.9% per year) and Ukraine (+126.8% per year).

In value terms, Kazakhstan ($X) remains the key foreign market for iron oxide pigments exports from Russia, comprising 56% of total exports. The second position in the ranking was taken by Belarus ($X), with a 19% share of total exports. It was followed by Ukraine, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Kazakhstan totaled +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+14.3% per year) and Ukraine (+124.8% per year).

Export Prices by Country

The average iron oxide pigment export price stood at $X per ton in 2021, surging by 28% against the previous year. Over the period under review, the export price, however, recorded a slight decline. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Kazakhstan ($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 Belarus (+0.3%), while the prices for the other major destinations experienced mixed trend patterns.

Iron Oxide Pigment Imports

Imports into the Russian Federation

In 2021, approx. X tons of iron oxide pigments were imported into Russia; increasing by 19% compared with the previous year's figure. Overall, imports, however, saw a mild decrease. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, iron oxide pigment imports soared to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and the Czech Republic (X tons) were the main suppliers of iron oxide pigment imports to Russia, together accounting for 83% of total imports. Spain, Belarus, South Africa, the Netherlands and Ukraine lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of +40.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron oxide pigment suppliers to Russia were China ($X), Germany ($X) and the Czech Republic ($X), with a combined 91% share of total imports. These countries were followed by Spain, the Netherlands, South Africa, Belarus and Ukraine, which together accounted for a further 3.7%.

In terms of the main suppliers, South Africa, with a CAGR of +33.1%, saw 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

In 2021, the average iron oxide pigment import price amounted to $X per ton, jumping by 19% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Ukraine ($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 (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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