India's Import of Derivatives of Hydrocarbons Falls Significantly to $104M in 2023
India Derivatives Of Hydrocarbons Imports
For the third consecutive year, India recorded growth in supplies from abroad of derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups, which increased by 62% to 57K tons in 2023. Overall, imports recorded a significant increase. The pace of growth was the most pronounced in 2018 when imports increased by 75%. Over the period under review, imports attained the maximum in 2023 and are likely to see gradual growth in the immediate term.
In value terms, derivatives of hydrocarbons imports shrank to $104M (IndexBox estimates) in 2023. In general, imports saw a strong increase. The pace of growth was the most pronounced in 2018 with an increase of 54%. Imports peaked at $111M in 2022, and then contracted in the following year.
| COUNTRY | Import Value of Derivatives Of Hydrocarbons in India (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| China | 14.3 | 29.0 | 33.0 | 28.5 | 28.1 | 42.2 | 46.8 | 51.9 | 72.7 | 104 | 96.6 |
| United States | 1.4 | 0.8 | 1.9 | 5.0 | 2.5 | 7.8 | 7.7 | 4.4 | 4.3 | 3.6 | 3.8 |
| Japan | 0.9 | 1.3 | 2.8 | 1.5 | 0.5 | 0.9 | 0.9 | 1.2 | 1.2 | 0.2 | 0.8 |
| Italy | 5.7 | 2.4 | 2.1 | 2.6 | 2.9 | 1.3 | 0.1 | N/A | 0.1 | N/A | N/A |
| Others | 2.3 | 0.8 | 2.4 | 1.0 | 0.4 | 0.8 | 1.4 | 1.1 | 2.1 | 2.8 | 2.6 |
| Total | 24.6 | 34.3 | 42.2 | 38.6 | 34.4 | 52.9 | 56.9 | 58.7 | 80.4 | 111 | 104 |
Imports by Country
In 2023, China (54K tons) was the main supplier of derivatives of hydrocarbons to India, accounting for a 95% share of total imports. Moreover, derivatives of hydrocarbons imports from China exceeded the figures recorded by the second-largest supplier, the United States (2K tons), more than tenfold. Japan (192 tons) ranked third in terms of total imports with a 0.3% share.
From 2013 to 2023, the average annual rate of growth in terms of volume from China amounted to +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+11.6% per year) and Japan (-7.1% per year).
In value terms, China ($97M) constituted the largest supplier of derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups to India, comprising 93% of total imports. The second position in the ranking was taken by the United States ($3.8M), with a 3.6% share of total imports. It was followed by Japan, with a 0.7% share.
From 2013 to 2023, the average annual rate of growth in terms of value from China stood at +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.2% per year) and Japan (-1.7% per year).
Import Prices by Country
In 2023, the derivatives of hydrocarbons price stood at $1,809 per ton (CIF, India), waning by -42.1% against the previous year. Over the period under review, the import price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2021 when the average import price increased by 36%. Over the period under review, average import prices hit record highs at $3,452 per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($1,876 per ton), while the price for China stood at $1,774 per ton.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the United States (-1.2%).
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
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- TOP CONSUMING MARKETS
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7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
