Scandinavia: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in Scandinavia

The Scandinavia chromium ore and concentrate market was estimated at $X in 2022, remaining stable against the previous year. Over the period under review, consumption, however, saw a prominent expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Chromium Ores and Concentrates in Scandinavia

In value terms, chromium ore and concentrate production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 1.2%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Exports of Chromium Ores and Concentrates

Exports in Scandinavia

In 2022, approx. X tons of chromium ores and concentrates were exported in Scandinavia; increasing by 88% compared with the previous year's figure. Overall, exports, however, showed a precipitous descent. The most prominent rate of growth was recorded in 2017 when exports increased by 1,206%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, chromium ore and concentrate exports surged to $X in 2022. Over the period under review, exports, however, showed a precipitous curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 1,527% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Finland prevails in exports structure, resulting at X tons, which was approx. 93% of total exports in 2022. It was distantly followed by Sweden (X tons), committing a 5.7% share of total exports. Norway (X tons) took a little share of total exports.

Exports from Finland decreased at an average annual rate of -24.0% from 2012 to 2022. At the same time, Norway (+28.1%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +28.1% from 2012-2022. By contrast, Sweden (-4.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden and Norway increased by +5 and +1.8 percentage points, respectively.

In value terms, Finland ($X) remains the largest chromium ore and concentrate supplier in Scandinavia, comprising 91% of total exports. The second position in the ranking was taken by Sweden ($X), with a 7% share of total exports.

In Finland, chromium ore and concentrate exports declined by an average annual rate of -22.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (-7.5% per year) and Norway (+28.3% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, with a decrease of -28.2% against the previous year. Export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chromium ore and concentrate export price decreased by -19.5% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by 34%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+2.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Chromium Ores and Concentrates

Imports in Scandinavia

In 2022, after two years of growth, there was significant decline in supplies from abroad of chromium ores and concentrates, when their volume decreased by -65.4% to X tons. In general, imports showed a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 191%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, chromium ore and concentrate imports declined sharply to $X in 2022. Overall, imports faced a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 206% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Finland was the main importing country with an import of around X tons, which recorded 90% of total imports. It was distantly followed by Norway (X tons), committing a 10% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to chromium ore and concentrate imports into Finland stood at -15.1%. Norway experienced a relatively flat trend pattern. Norway (+8.1 p.p.) significantly strengthened its position in terms of the total imports, while Finland saw its share reduced by -8.1% from 2012 to 2022, respectively.

In value terms, Finland ($X) constitutes the largest market for imported chromium ores and concentrates in Scandinavia, comprising 90% of total imports. The second position in the ranking was taken by Norway ($X), with a 10% share of total imports.

In Finland, chromium ore and concentrate imports declined by an average annual rate of -14.2% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, rising by 9.1% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 30%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Finland stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+1.1%).

Source: IndexBox Platform