United Kingdom: Chromates Market 2024

Chromates Market Size in the UK

In 2022, the UK chromates market increased by 50% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Chromates Exports

Exports from the UK

In 2022, shipments abroad of chromates, dichromates and peroxochromates decreased by -1.3% to X tons, falling for the fourth consecutive year after three years of growth. Overall, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 90% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, chromates exports surged to $X in 2022. In general, exports showed a abrupt decline. The growth pace was the most rapid in 2019 when exports increased by 89%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Kenya (X tons) was the main destination for chromates exports from the UK, with a 50% share of total exports. Moreover, chromates exports to Kenya exceeded the volume sent to the second major destination, France (X kg), threefold. The Netherlands (X kg) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Kenya amounted to +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-9.4% per year) and the Netherlands (+139.1% per year).

In value terms, Kenya ($X) remains the key foreign market for chromates, dichromates and peroxochromates exports from the UK, comprising 47% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total exports. It was followed by the Netherlands, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Kenya amounted to +46.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+37.2% per year) and the Netherlands (+208.8% per year).

Export Prices by Country

The average chromates export price stood at $X per ton in 2022, with an increase of 63% against the previous year. In general, the export price recorded buoyant growth. The most prominent rate of growth was recorded in 2019 an increase of 391%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Ireland ($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 Saudi Arabia (+49.6%), while the prices for the other major destinations experienced more modest paces of growth.

Chromates Imports

Imports into the UK

After three years of decline, purchases abroad of chromates, dichromates and peroxochromates increased by 23% to X tons in 2022. Overall, imports, however, faced a abrupt downturn. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, chromates imports soared to $X in 2022. Over the period under review, imports, however, faced a abrupt descent. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of chromates to the UK, accounting for a 63% share of total imports. Moreover, chromates imports from Turkey exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. South Africa (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+5.6% per year) and South Africa (0.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of chromates, dichromates and peroxochromates to the UK, comprising 63% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 16% share of total imports. It was followed by South Africa, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-0.5% per year) and South Africa (0.0% per year).

Import Prices by Country

In 2022, the average chromates import price amounted to $X per ton, increasing by 28% against the previous year. In general, the import price, however, showed a perceptible downturn. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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