Spain: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in Spain

After two years of decline, the Spanish chromium ore and concentrate market increased by 17% to $X in 2022. Over the period under review, consumption, however, posted a resilient increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Chromium Ores and Concentrates

Exports from Spain

After three years of growth, shipments abroad of chromium ores and concentrates decreased by -9% to X tons in 2022. Over the period under review, exports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 74%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, chromium ore and concentrate exports reduced slightly to $X in 2022. In general, exports continue to indicate a noticeable setback. The growth pace was the most rapid in 2021 when exports increased by 85%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Portugal (X tons), France (X tons) and China (X tons) were the main destinations of chromium ore and concentrate exports from Spain, with a combined 64% share of total exports. Guatemala, Egypt, Chile, Romania and Peru lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +222.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) remains the key foreign market for chromium ores and concentrates exports from Spain, comprising 33% of total exports. The second position in the ranking was held by France ($X), with a 16% share of total exports. It was followed by Guatemala, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Portugal amounted to +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+38.4% per year) and Guatemala (+107.7% per year).

Export Prices by Country

The average chromium ore and concentrate export price stood at $X per ton in 2022, growing by 4.4% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 59% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+111.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chromium Ores and Concentrates

Imports into Spain

In 2022, chromium ore and concentrate imports into Spain declined modestly to X tons, almost unchanged from 2021. In general, imports, however, saw buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 109%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, chromium ore and concentrate imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 97% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X tons) constituted the largest supplier of chromium ore and concentrate to Spain, with a 62% share of total imports. Moreover, chromium ore and concentrate imports from South Africa exceeded the figures recorded by the second-largest supplier, Zimbabwe (X tons), fourfold. The third position in this ranking was taken by Pakistan (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa amounted to +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Zimbabwe (+181.7% per year) and Pakistan (+16.1% per year).

In value terms, South Africa ($X) constituted the largest supplier of chromium ores and concentrates to Spain, comprising 55% of total imports. The second position in the ranking was taken by Pakistan ($X), with an 18% share of total imports. It was followed by Zimbabwe, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from South Africa totaled +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+19.1% per year) and Zimbabwe (+227.4% per year).

Import Prices by Country

The average chromium ore and concentrate import price stood at $X per ton in 2022, increasing by 34% against the previous year. Overall, the import price, however, saw a perceptible decline. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Pakistan ($X per ton), while the price for Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zimbabwe (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :