India: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in India

After four years of decline, the Indian benzoyl peroxide and chloride market increased by 932% to $X in 2022. Over the period under review, consumption, however, recorded a deep reduction. Benzoyl peroxide and chloride consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports from India

In 2022, the amount of benzoyl peroxide and benzoyl chloride exported from India amounted to X tons, flattening at the previous year's figure. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 226%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, benzoyl peroxide and chloride exports surged to $X in 2022. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 227%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for benzoyl peroxide and chloride exports from India, with a 46% share of total exports. Moreover, benzoyl peroxide and chloride exports to the United States exceeded the volume sent to the second major destination, Turkey (X tons), threefold. Italy (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +360.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+92.0% per year) and Italy (+72.7% per year).

In value terms, Italy ($X) remains the key foreign market for benzoyl peroxide and benzoyl chloride exports from India, comprising 57% of total exports. The second position in the ranking was taken by the United States ($X), with a 22% share of total exports. It was followed by Turkey, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled +69.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+341.2% per year) and Turkey (+119.2% per year).

Export Prices by Country

In 2022, the average benzoyl peroxide and chloride export price amounted to $X per ton, with an increase of 19% against the previous year. Overall, the export price saw a prominent increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 150% against the previous year. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Philippines ($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 South Korea (+32.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports into India

In 2022, purchases abroad of benzoyl peroxide and benzoyl chloride was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride imports surged to $X in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its value 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, imports increased by +92.4% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest benzoyl peroxide and chloride supplier to India, with a 65% share of total imports. Moreover, benzoyl peroxide and chloride imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. Indonesia (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-2.5% per year) and Indonesia (+43.9% per year).

In value terms, China ($X) constituted the largest supplier of benzoyl peroxide and benzoyl chloride to India, comprising 48% of total imports. The second position in the ranking was held by Belgium ($X), with a 21% share of total imports. It was followed by Indonesia, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+3.2% per year) and Indonesia (+56.4% per year).

Import Prices by Country

The average benzoyl peroxide and chloride import price stood at $X per ton in 2022, with an increase of 8.3% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, benzoyl peroxide and chloride import price increased by +66.5% against 2017 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 29% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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