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Aug 14, 2024

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.India Derivatives Of Hydrocarbons Imports By Country (Million USD)

COUNTRYImport Value of Derivatives Of Hydrocarbons in India (million USD)
20132014201520162017201820192020202120222023
China14.329.033.028.528.142.246.851.972.710496.6
United States1.40.81.95.02.57.87.74.44.33.63.8
Japan0.91.32.81.50.50.90.91.21.20.20.8
Italy5.72.42.12.62.91.30.1N/A0.1N/AN/A
Others2.30.82.41.00.40.81.41.12.12.82.6
Total24.634.342.238.634.452.956.958.780.4111104

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%).

Source: IndexBox Market Intelligence Platform

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, By Product
    11. Average Per Capita Consumption, By Product
    12. Exports and Growth, By Product
    13. Export Prices and Growth, By Product
    14. Production Volume and Growth
    15. Exports and Growth
    16. Export Prices and Growth
    17. Market Size and Growth
    18. Per Capita Consumption
    19. Imports and Growth
    20. Import Prices
    21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country, 2012–2024
    29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country, 2012–2024

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