India: Agglomerated Powder Rod Market 2024

Agglomerated Powder Rod Market Size in India

The Indian agglomerated powder rod market totaled $X in 2021, remaining constant against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Agglomerated powder rod consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Agglomerated Powder Rod Production in India

In value terms, agglomerated powder rod production rose markedly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 36% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Agglomerated Powder Rod Exports

Exports from India

In 2021, overseas shipments of base metal wire and rods of agglomerated base powder decreased by -52.5% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 114% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, agglomerated powder rod exports shrank remarkably to $X in 2021. In general, exports continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2016 when exports increased by 109% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons), Mexico (X tons) and the United States (X tons) were the main destinations of agglomerated powder rod exports from India, together accounting for 50% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +217.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for agglomerated powder rod exported from India were Poland ($X), the United States ($X) and Mexico ($X), with a combined 48% share of total exports.

Poland, with a CAGR of +236.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average agglomerated powder rod export price amounted to $X per ton, growing by 17% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 an increase of 33% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Denmark ($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 Nigeria (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Agglomerated Powder Rod Imports

Imports into India

In 2021, approx. X tons of base metal wire and rods of agglomerated base powder were imported into India; which is down by -69.4% on 2020. Over the period under review, imports, however, enjoyed mild growth. The most prominent rate of growth was recorded in 2015 with an increase of 486%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, agglomerated powder rod imports contracted sharply to $X in 2021. In general, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2015 with an increase of 517% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of agglomerated powder rod to India, with a 47% share of total imports. Moreover, agglomerated powder rod imports from Malaysia exceeded the figures recorded by the second-largest supplier, Singapore (X tons), sevenfold. The third position in this ranking was taken by Japan (X tons), with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia totaled +76.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+53.4% per year) and Japan (+11.0% per year).

In value terms, the largest agglomerated powder rod suppliers to India were Japan ($X), Vietnam ($X) and Malaysia ($X), together comprising 32% of total imports. The United States, China, Singapore, the Philippines, the UK, Thailand, the United Arab Emirates and Spain lagged somewhat behind, together accounting for a further 23%.

Singapore, with a CAGR of +40.6%, saw 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.

Import Prices by Country

In 2021, the average agglomerated powder rod import price amounted to $X per ton, surging by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +4.0%. The growth pace was the most rapid in 2017 when the average import price increased by 39%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($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 (+27.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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