India: Market for Articles Of Non-Malleable Cast Iron 2024

Market Size for Articles Of Non-Malleable Cast Iron in India

In 2022, the Indian non-malleable cast iron articles market decreased by -14.2% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption showed a mild slump. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Articles Of Non-Malleable Cast Iron in India

In value terms, non-malleable cast iron articles production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 6.7%. Over the period under review, production attained the maximum level at $X in 2017; afterwards, it flattened through to 2022.

Exports of Articles Of Non-Malleable Cast Iron

Exports from India

In 2022, overseas shipments of articles of non-malleable cast iron increased by 68% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports saw a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 103% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, non-malleable cast iron articles exports soared to $X in 2022. Overall, exports showed a prominent increase. The growth pace was the most rapid in 2021 when exports increased by 52% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for non-malleable cast iron articles exports from India, with a 47% share of total exports. Moreover, non-malleable cast iron articles exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +31.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+37.8% per year) and Germany (+1.4% per year).

In value terms, the United States ($X) remains the key foreign market for articles of non-malleable cast iron exports from India, comprising 45% of total exports. The second position in the ranking was held by Germany ($X), with a 7.6% share of total exports. It was followed by Canada, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +22.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+0.9% per year) and Canada (+24.8% per year).

Export Prices by Country

In 2022, the average non-malleable cast iron articles export price amounted to $X per ton, with a decrease of -24.7% against the previous year. In general, the export price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when the average export price increased by 19% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Articles Of Non-Malleable Cast Iron

Imports into India

In 2022, overseas purchases of articles of non-malleable cast iron increased by 53% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 1,159%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, non-malleable cast iron articles imports soared to $X in 2022. In general, imports posted strong growth. The pace of growth was the most pronounced in 2015 when imports increased by 1,008% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest non-malleable cast iron articles supplier to India, accounting for a 88% share of total imports. Moreover, non-malleable cast iron articles imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was held by Turkey (X tons), with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+33.0% per year) and Turkey (+79.5% per year).

In value terms, China ($X) constituted the largest supplier of articles of non-malleable cast iron to India, comprising 73% of total imports. The second position in the ranking was held by Italy ($X), with an 8.4% share of total imports. It was followed by South Korea, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+46.4% per year) and South Korea (+13.7% per year).

Import Prices by Country

In 2022, the average non-malleable cast iron articles import price amounted to $X per ton, reducing by -3% against the previous year. Over the period under review, the import price recorded a noticeable downturn. The growth pace was the most rapid in 2013 when the average import price increased by 104% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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