United Kingdom: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in the UK

After two years of decline, the UK iron oxide pigment market increased by 37% to $X in 2021. The market value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Iron Oxide Pigment Production in the UK

In value terms, iron oxide pigment production contracted to $X in 2021 estimated in export price. Overall, production, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2015 when the production volume increased by 54% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Iron Oxide Pigment Exports

Exports from the UK

After two years of decline, overseas shipments of iron oxide pigments increased by 5.6% to X tons in 2021. In general, total exports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -21.5% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 57% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron oxide pigment exports surged to $X in 2021. The total export value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 29%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), France (X tons) and Ireland (X tons) were the main destinations of iron oxide pigment exports from the UK, together accounting for 46% of total exports. The Netherlands, Saudi Arabia, Spain, South Africa, Turkey, Russia, the United States, El Salvador, Jamaica and the United Arab Emirates lagged somewhat behind, together comprising a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +69.4%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Ireland ($X) and France ($X) were the largest markets for iron oxide pigment exported from the UK worldwide, together comprising 38% of total exports. These countries were followed by Spain, the Netherlands, the United States, Saudi Arabia, South Africa, Turkey, Russia, Jamaica, El Salvador and the United Arab Emirates, which together accounted for a further 31%.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +48.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average iron oxide pigment export price amounted to $X per ton, picking up by 22% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 38% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to El Salvador ($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 the Netherlands (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Oxide Pigment Imports

Imports into the UK

In 2021, approx. X tons of iron oxide pigments were imported into the UK; growing by 14% compared with 2020. The total import volume increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 38% against the previous year. Imports peaked 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. The total import value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), China (X tons) and Italy (X tons) were the main suppliers of iron oxide pigment imports to the UK, with a combined 88% share of total imports. Brazil, Belgium, Spain and the Czech Republic lagged somewhat behind, together comprising a further 8%.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +109.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Italy ($X) constituted the largest iron oxide pigment suppliers to the UK, with a combined 90% share of total imports. These countries were followed by Belgium, Brazil, Spain and the Czech Republic, which together accounted for a further 4.9%.

In terms of the main suppliers, Brazil, with a CAGR of +85.9%, saw the highest rates of growth with regard to 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, with an increase of 21% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. 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 Italy ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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