India: Bentonite Market 2024

Bentonite Market Size in India

The Indian bentonite market reduced slightly to $X in 2022, which is down by -1.5% against the previous year. Over the period under review, consumption, however, continues to indicate a resilient expansion. Bentonite consumption peaked at $X in 2021, and then contracted slightly in the following year.

Bentonite Production in India

In value terms, bentonite production fell to $X in 2022 estimated in export price. Overall, production, however, posted prominent growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 89%. Bentonite production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Bentonite Exports

Exports from India

In 2022, exports of bentonite from India dropped to X tons, flattening at the previous year. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -14.0% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 75% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, bentonite exports expanded markedly to $X in 2022. The total export value increased at an average annual rate of +5.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 45%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and China (X tons) were the main destinations of bentonite exports from India, with a combined 46% share of total exports. South Korea, Saudi Arabia, Australia, Bahrain, Ukraine, Thailand, Vietnam, South Africa, Singapore and Belgium lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +65.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and China ($X) were the largest markets for bentonite exported from India worldwide, with a combined 45% share of total exports.

In terms of the main countries of destination, China, with a CAGR of +58.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bentonite export price stood at $X per ton in 2022, picking up by 15% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Ukraine ($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 Malaysia (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Bentonite Imports

Imports into India

In 2022, purchases abroad of bentonite decreased by -0.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 189%. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, bentonite imports totaled $X in 2022. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 91%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Turkey (X tons) constituted the largest bentonite supplier to India, with a 61% share of total imports. Moreover, bentonite imports from Turkey exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. China (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to +54.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+29.3% per year) and China (+25.8% per year).

In value terms, Turkey ($X), the United States ($X) and China ($X) appeared to be the largest bentonite suppliers to India, together accounting for 78% of total imports. Iran, Greece, Australia and Azerbaijan lagged somewhat behind, together accounting for a further 3.6%.

Iran, with a CAGR of +77.4%, recorded the highest rates of growth with regard to the value of imports, among 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 2022, the average bentonite import price amounted to $X per ton, increasing by 12% against the previous year. In general, the import price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 an increase of 23%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 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 the United States ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+13.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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