India - Phenols - Market Analysis, Forecast, Size, Trends and Insights
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View PricingIndia's Phenols Purchases Fall by 25%, Reaching $644 Million in 2023
India Phenols Imports
In 2023, imports of phenols into India amounted to 434K tons, increasing by 11% against the previous year's figure. The total import volume increased at an average annual rate of +3.6% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 48%. As a result, imports reached the peak of 474K tons. From 2022 to 2023, the growth of imports failed to regain momentum.
In value terms, phenols imports contracted dramatically to $644M (IndexBox estimates) in 2023. Overall, total imports indicated modest growth from 2013 to 2023: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by -26.7% against 2021 indices. The pace of growth appeared the most rapid in 2021 with an increase of 68% against the previous year. As a result, imports reached the peak of $879M. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.
| COUNTRY | Import Value of Phenols in India (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| China | 100 | 132 | 110 | 132 | 142 | 177 | 173 | 148 | 316 | 247 | 135 |
| Thailand | 27.9 | 47.6 | 42.5 | 40.4 | 89.9 | 121 | 73.5 | 23.6 | 84.2 | 119 | 115 |
| South Korea | 87.5 | 127 | 98.3 | 99.7 | 113 | 144 | 78.0 | 54.6 | 143 | 90.1 | 81.8 |
| United States | 107 | 64.5 | 65.5 | 71.4 | 56.6 | 91.4 | 81.3 | 85.1 | 66.3 | 84.0 | 62.9 |
| Saudi Arabia | N/A | 2.1 | 2.0 | N/A | 18.3 | 62.1 | 14.5 | 2.0 | 20.4 | 56.1 | 46.4 |
| Singapore | 15.6 | 49.6 | 17.7 | 27.3 | 31.4 | 41.6 | 29.1 | 24.6 | 33.2 | 23.1 | 43.6 |
| Japan | 24.0 | 28.7 | 24.2 | 29.3 | 37.7 | 43.3 | 58.4 | 68.3 | 49.1 | 65.8 | 39.7 |
| Taiwan (Chinese) | 118 | 81.1 | 52.2 | 47.8 | 35.1 | 47.7 | 46.9 | 27.5 | 60.6 | 74.0 | 32.4 |
| Others | 98.4 | 145 | 137 | 72.6 | 76.4 | 119 | 107 | 88.5 | 106 | 96.4 | 87.2 |
| Total | 579 | 678 | 549 | 520 | 601 | 847 | 662 | 523 | 879 | 855 | 644 |
Imports by Country
Thailand (103K tons), South Korea (62K tons) and China (54K tons) were the main suppliers of phenols imports to India, with a combined 51% share of total imports. Saudi Arabia, the United States, Singapore, Taiwan (Chinese) and Japan lagged somewhat behind, together comprising a further 35%.
From 2013 to 2023, the biggest increases were recorded for Saudi Arabia (with a CAGR of +49.8%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, China ($135M), Thailand ($115M) and South Korea ($82M) constituted the largest phenols suppliers to India, together comprising 52% of total imports. the United States, Saudi Arabia, Singapore, Japan and Taiwan (Chinese) lagged somewhat behind, together comprising a further 35%.
Saudi Arabia, with a CAGR of +41.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Imports by Type
In 2023, monophenols (304K tons) constituted the largest type of phenols supplied to India, with a 70% share of total imports. Moreover, monophenols exceeded the figures recorded for the second-largest type, 4,4-isopropylidenediphenol (bisphenol a; diphenylolpropane) and its salts (96K tons), threefold. Polyphenols and phenol-alcohols (13K tons) ranked third in terms of total imports with a 3% share.
From 2013 to 2023, the average annual rate of growth in terms of the volume of monophenols imports stood at +1.8%. With regard to the other supplied products, the following average annual rates of growth were recorded: 4,4-isopropylidenediphenol (bisphenol a; diphenylolpropane) and its salts (+14.0% per year) and polyphenols and phenol-alcohols (-1.1% per year).
In value terms, monophenols ($393M) constituted the largest type of phenols supplied to India, comprising 61% of total imports. The second position in the ranking was held by 4,4-isopropylidenediphenol (bisphenol a; diphenylolpropane) and its salts ($124M), with a 19% share of total imports. It was followed by polyphenols and phenol-alcohols, with a 12% share.
Import Prices by Country
In 2023, the phenols price stood at $1,485 per ton (CIF, India), which is down by -32% against the previous year. Overall, the import price showed a noticeable descent. The growth pace was the most rapid in 2018 when the average import price increased by 35% against the previous year. Over the period under review, average import prices reached the peak figure at $2,185 per ton in 2022, and then declined markedly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($2,489 per ton), while the price for Saudi Arabia ($978 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (+1.0%), while the prices for the other major suppliers experienced mixed trend patterns.
This report provides an in-depth analysis of the phenols market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20142410 - Monophenols
- Prodcom 20142433 - 4,4-Isopropylidenediphenol (bisphenol A, diphenylolpropane) a nd its salts
- Prodcom 20142439 - Polyphenols (including salts, excluding 4,4 isopropylidenediphenol) and phenol-alcohols
- Prodcom 20142450 - Halogenated, sulphonated, nitrated or nitrosated derivatives of phenols or phenol-alcohols
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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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
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
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
