India: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in India

In 2021, the Indian aromatic alcohols market decreased by -11.5% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Aromatic Alcohols Production in India

In value terms, aromatic alcohols production rose significantly to $X in 2021 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -17.5% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 40%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Aromatic Alcohols Exports

Exports from India

In 2021, the amount of aromatic alcohols and their derivatives exported from India skyrocketed to X tons, increasing by 16% against the year before. Overall, exports posted a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 37% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, aromatic alcohols exports surged to $X in 2021. In general, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 49% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for aromatic alcohols exports from India, accounting for a 23% share of total exports. Moreover, aromatic alcohols exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), threefold. The third position in this ranking was held by Japan (X tons), with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+5.9% per year) and Japan (+10.0% per year).

In value terms, the United States ($X) remains the key foreign market for aromatic alcohols and their derivatives exports from India, comprising 19% of total exports. The second position in the ranking was taken by Brazil ($X), with an 8.6% share of total exports. It was followed by Japan, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+24.1% per year) and Japan (+0.6% per year).

Export Prices by Country

In 2021, the average aromatic alcohols export price amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the export price, however, showed a slight decline. The most prominent rate of growth was recorded in 2018 an increase of 35% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Netherlands (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Aromatic Alcohols Imports

Imports into India

In 2021, the amount of aromatic alcohols and their derivatives imported into India soared to X tons, jumping by 19% compared with 2020. In general, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when imports increased by 24% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, aromatic alcohols imports surged to $X in 2021. Over the period under review, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 56%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of aromatic alcohols to India, accounting for a 74% share of total imports. Moreover, aromatic alcohols imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), tenfold. The third position in this ranking was held by the United States (X tons), with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+5.8% per year) and the United States (-7.6% per year).

In value terms, China ($X) constituted the largest supplier of aromatic alcohols and their derivatives to India, comprising 85% of total imports. The second position in the ranking was held by the United States ($X), with a 2.1% share of total imports. It was followed by Germany, with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.4% per year) and Germany (-0.0% per year).

Import Prices by Country

In 2021, the average aromatic alcohols import price amounted to $X per ton, picking up by 30% against the previous year. Overall, the import price showed a prominent increase. The pace of growth was the most pronounced in 2018 an increase of 39% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Thailand ($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 (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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