Southern Asia: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in Southern Asia

The South Asian chromium ore and concentrate market shrank dramatically to $X in 2022, falling by -16.9% against the previous year. In general, consumption, however, continues to indicate a mild increase. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Chromium Ores and Concentrates in Southern Asia

In value terms, chromium ore and concentrate production contracted rapidly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 78% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Chromium Ores and Concentrates

Exports in Southern Asia

Chromium ore and concentrate exports shrank dramatically to X tons in 2022, waning by -15.2% against the previous year. In general, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2016 when exports increased by 74%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, chromium ore and concentrate exports rose significantly to $X in 2022. Over the period under review, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 74%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of chromium ores and concentrates, namely Pakistan, represented more than two-thirds of total export.

Pakistan was also the fastest-growing in terms of the chromium ores and concentrates exports, with a CAGR of -2.8% from 2012 to 2022. Pakistan (+33 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Pakistan ($X) also remains the largest chromium ore and concentrate supplier in Southern Asia.

In Pakistan, chromium ore and concentrate exports shrank by an average annual rate of -1.3% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, jumping by 26% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by 27% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Pakistan.

From 2012 to 2022, the rate of growth in terms of prices for Pakistan amounted to +1.6% per year.

Imports of Chromium Ores and Concentrates

Imports in Southern Asia

In 2022, after two years of growth, there was significant decline in overseas purchases of chromium ores and concentrates, when their volume decreased by -28.7% to X tons. In general, imports recorded a mild decline. The most prominent rate of growth was recorded in 2021 with an increase of 82% against the previous year. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, chromium ore and concentrate imports declined to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 107% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

India represented the key importing country with an import of around X tons, which resulted at 75% of total imports. It was distantly followed by Pakistan (X tons), achieving a 25% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to chromium ore and concentrate imports into India stood at -3.9%. At the same time, Pakistan (+34.1%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +34.1% from 2012-2022. From 2012 to 2022, the share of Pakistan increased by +24 percentage points.

In value terms, India ($X) constitutes the largest market for imported chromium ores and concentrates in Southern Asia, comprising 81% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to -1.4%.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, increasing by 28% against the previous year. Import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.8% 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 import price increased by +45.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by 59% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Pakistan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.6%).

Source: IndexBox Platform

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