Chromium, Manganese, Lead and Copper Oxide and Hydroxide Market

The article provides a comprehensive analysis of the global market for chromium, manganese, lead, and copper oxides and hydroxides. It discusses the expected upward consumption trend over the next eight years, with a forecasted increase in market volume and value. Consumption statistics, production figures, import/export data, and key market players are highlighted to give a detailed overview of the market dynamics. The article also delves into consumption patterns in different countries, growth rates, per capita consumption levels, production trends, import volumes, export figures, and average prices. Overall, the article offers valuable insights into the current market scenario and future prospects for these essential mineral compounds.

Market Forecast

Driven by rising demand for chromium, manganese, lead and copper oxide and hydroxide worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.4% for the period from 2022 to 2030, which is projected to bring the market volume to 2.2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market value to $6.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Chromium, Manganese, Lead and Copper Oxides and Hydroxides

After four years of decline, consumption of chromium, manganese, lead and copper oxides and hydroxides increased by 1.5% to 2.2M tons in 2022. Overall, consumption, however, saw a mild curtailment. Global consumption peaked at 2.6M tons in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

The value of the market for chromium, manganese, lead and copper oxides and hydroxides worldwide declined to $5.3B in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a pronounced decrease. Over the period under review, the global market reached the maximum level at $6.6B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (452K tons), the United States (279K tons) and India (184K tons), with a combined 42% share of global consumption. Nigeria, Russia, Brazil, Germany, Namibia, Japan, Canada, Vietnam, Mexico and Turkey lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of hydroxides, amongst the key consuming countries, was attained by Namibia (with a CAGR of +74.0%), while hydroxides for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.3B), China ($890M) and Russia ($246M) were the countries with the highest levels of market value in 2022, with a combined 45% share of the global market. India, Vietnam, Germany, Japan, Turkey, Nigeria, Brazil, Mexico, Canada and Namibia lagged somewhat behind, together accounting for a further 21%.

In terms of the main consuming countries, Namibia, with a CAGR of +56.7%, saw the highest rates of growth with regard to market size over the period under review, while hydroxides for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of chromium, manganese, lead and copper oxides and hydroxides was registered in Namibia (21 kg per person), followed by Canada (1.2 kg per person), the United States (0.8 kg per person) and Germany (0.7 kg per person), while the world average per capita consumption of chromium, manganese, lead and copper oxide and hydroxide was estimated at 0.3 kg per person.

In Namibia, per capita consumption of chromium, manganese, lead and copper oxides and hydroxides increased at an average annual rate of +70.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Canada (+9.8% per year) and the United States (-1.3% per year).

Production

World Production of Chromium, Manganese, Lead and Copper Oxides and Hydroxides

In 2022, approx. 2.1M tons of chromium, manganese, lead and copper oxides and hydroxides were produced worldwide; with a decrease of -1.6% against the previous year's figure. Over the period under review, production saw a mild descent. The growth pace was the most rapid in 2016 when the production volume increased by 11% against the previous year. Over the period under review, global production of reached the maximum volume at 2.6M tons in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

In value terms, production of chromium, manganese, lead and copper oxides and hydroxides dropped to $4.8B in 2022 estimated in export price. In general, production continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2017 with an increase of 18%. Global production peaked at $6.4B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (506K tons), the United States (278K tons) and India (191K tons), together accounting for 47% of global production. Nigeria, South Africa, Brazil, Russia, Morocco, Kazakhstan, Japan, Germany and Mexico lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of hydroxides, amongst the key producing countries, was attained by Morocco (with a CAGR of +19.9%), while hydroxides for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Chromium, Manganese, Lead and Copper Oxides and Hydroxides

In 2022, global imports of chromium, manganese, lead and copper oxides and hydroxides reduced slightly to 666K tons, falling by -3.4% on the previous year's figure. The total import volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 14% against the previous year. As a result, imports reached the peak of 689K tons, and then reduced modestly in the following year.

In value terms, imports of chromium, manganese, lead and copper oxides and hydroxides totaled $1.7B in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 32%. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports By Country

The purchases of the twelve major importers of chromium, manganese, lead and copper oxides and hydroxides, namely Namibia, Canada, the United States, Germany, the UK, Indonesia, India, South Korea, Australia, the United Arab Emirates, Belgium and Russia, represented more than half of total import. Spain (20K tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Namibia (with a CAGR of +73.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest chromium, manganese, lead and copper oxide and hydroxide importing markets worldwide were the UK ($141M), Germany ($104M) and the United States ($97M), with a combined 20% share of global imports. South Korea, Indonesia, Spain, Belgium, India, Australia, Canada, Russia, the United Arab Emirates and Namibia lagged somewhat behind, together comprising a further 26%.

Namibia, with a CAGR of +47.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for chromium, manganese, lead and copper oxides and hydroxides stood at $2,624 per ton in 2022, surging by 12% against the previous year. Over the period under review, the import price, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by 16%. Global import price peaked at $2,982 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($5,054 per ton), while Namibia ($294 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Chromium, Manganese, Lead and Copper Oxides and Hydroxides

In 2022, the amount of chromium, manganese, lead and copper oxides and hydroxides exported worldwide fell to 585K tons, with a decrease of -13.3% against 2021 figures. The total export volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. As a result, the exports attained the peak of 674K tons, and then fell in the following year.

In value terms, exports of chromium, manganese, lead and copper oxides and hydroxides reached $1.4B in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 39% against the previous year. Over the period under review, the global exports of attained the maximum in 2022 and are likely to continue growth in the immediate term.

Exports By Country

China (73K tons), Morocco (57K tons), South Africa (55K tons), Kazakhstan (48K tons), the United States (40K tons), India (33K tons), Germany (26K tons), South Korea (26K tons), Norway (20K tons), Georgia (19K tons), Spain (19K tons) and Belgium (19K tons) represented roughly 74% of total exports in 2022. Brazil (17K tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +11.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest chromium, manganese, lead and copper oxide and hydroxide supplying countries worldwide were the United States ($225M), China ($225M) and Germany ($139M), with a combined 41% share of global exports. Kazakhstan, India, South Africa, Spain, Belgium, South Korea, Norway, Georgia, Morocco and Brazil lagged somewhat behind, together accounting for a further 30%.

Among the main exporting countries, India, with a CAGR of +12.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average export price for chromium, manganese, lead and copper oxides and hydroxides amounted to $2,476 per ton, picking up by 21% against the previous year. In general, the export price, however, saw a mild decrease. Over the period under review, the average export prices hit record highs at $2,816 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($5,624 per ton), while Morocco ($293 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+5.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform