Asia: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Asia

The Asian iron oxide pigment market stood at $X in 2023, surging by X% against the previous year. The total consumption indicated measured growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Iron Oxide Pigment Production in Asia

In value terms, iron oxide pigment production rose slightly to $X in 2023 estimated in export price. The total production indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2021; afterwards, it flattened through to 2023.

Iron Oxide Pigment Exports

Exports in Asia

In 2023, the amount of iron oxide pigments exported in Asia declined to X tons, waning by X% against 2022 figures. In general, exports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, iron oxide pigment exports contracted markedly to $X in 2023. Over the period under review, exports continue to indicate a slight slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2022, and then declined markedly in the following year.

Exports by Country

China dominates exports structure, reaching X tons, which was approx. X% of total exports in 2023. It was distantly followed by South Korea (X tons), India (X tons), the United Arab Emirates (X tons), Taiwan (Chinese) (X tons) and Japan (X tons), together achieving a X% share of total exports. Hong Kong SAR (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of iron oxide pigments. At the same time, the United Arab Emirates (X%) and India (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Japan (X%), South Korea (X%), Taiwan (Chinese) (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China, the United Arab Emirates and India increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron oxide pigment supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China was relatively modest. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then dropped remarkably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced more modest paces of growth.

Iron Oxide Pigment Imports

Imports in Asia

In 2023, iron oxide pigment imports in Asia fell slightly to X tons, approximately mirroring 2022. Overall, imports continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, iron oxide pigment imports declined to $X in 2023. In general, imports showed a mild downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

China was the major importing country with an import of about X tons, which amounted to X% of total imports. India (X tons) took the second position in the ranking, followed by South Korea (X tons). All these countries together held near X% share of total imports. Indonesia (X tons), Vietnam (X tons), Turkey (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), Japan (X tons), Thailand (X tons), the United Arab Emirates (X tons), the Philippines (X tons) and Pakistan (X tons) held a minor share of total imports.

Imports into China decreased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%), Pakistan (X%), India (X%), the Philippines (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%), Indonesia (X%), Turkey (X%), Malaysia (X%), South Korea (X%), Japan (X%) and Thailand (X%) illustrated a downward trend over the same period. India (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total imports, while China saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported iron oxide pigments in Asia, comprising X% of total imports. The second position in the ranking was taken by India ($X), with an X% share of total imports. It was followed by South Korea, with an X% share.

From 2012 to 2023, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: India (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform