India: Abrasives Market 2024

Abrasives Market Size in India

The Indian abrasives market surged to $X in 2021, with an increase of 16% against the previous year. Over the period under review, consumption posted prominent growth. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the immediate term.

Abrasives Production in India

In value terms, abrasives production rose notably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a mild slump. The pace of growth was the most pronounced in 2018 with an increase of 42%. Abrasives production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Abrasives Exports

Exports from India

In 2021, abrasives exports from India reduced to X tons, waning by -10.5% compared with the previous year's figure. In general, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 14%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, abrasives exports contracted to $X in 2021. Over the period under review, exports saw a abrupt slump. The growth pace was the most rapid in 2018 when exports increased by 46% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for abrasives exports from India, accounting for a 46% share of total exports. Moreover, abrasives exports to the United Arab Emirates exceeded the volume sent to the second major destination, the United States (X tons), threefold. Saudi Arabia (X tons) ranked third in terms of total exports with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at -13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-18.5% per year) and Saudi Arabia (-17.7% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for abrasives (natural) exports from India, comprising 51% of total exports. The second position in the ranking was taken by the United States ($X), with a 13% share of total exports. It was followed by Saudi Arabia, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at -9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-15.8% per year) and Saudi Arabia (-15.8% per year).

Export Prices by Country

In 2021, the average abrasives export price amounted to $X per ton, growing by 4.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2018 an increase of 28% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Abrasives Imports

Imports into India

In 2021, approx. X tons of abrasives (natural) were imported into India; falling by -2.6% compared with the year before. Overall, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 33%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, abrasives imports rose rapidly to $X in 2021. Over the period under review, imports saw a deep contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 27% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Turkey (X tons) and the United States (X tons) were the main suppliers of abrasives imports to India, with a combined 96% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +29.8%), while purchases for the other leaders experienced a decline.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of abrasives (natural) to India, comprising 68% of total imports. The second position in the ranking was held by Turkey ($X), with an 18% share of total imports. It was followed by the United States, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates amounted to +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-5.2% per year) and the United States (-10.9% per year).

Import Prices by Country

In 2021, the average abrasives import price amounted to $X per ton, picking up by 15% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 20% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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