India: Chromates Market 2024

Chromates Market Size in India

The Indian chromates market fell remarkably to $X in 2022, with a decrease of -70.5% against the previous year. Over the period under review, consumption recorded a perceptible reduction. Chromates consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Chromates Production in India

In value terms, chromates production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume decreased by 99.9%. Chromates production peaked in 2022 and is expected to retain growth in the immediate term.

Chromates Exports

Exports from India

In 2022, exports of chromates, dichromates and peroxochromates from India dropped notably to X tons, with a decrease of -33.3% on 2021. In general, exports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 177%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, chromates exports amounted to $X in 2022. Over the period under review, exports showed a slight reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 85% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons), Thailand (X tons) and Bangladesh (X tons) were the main destinations of chromates exports from India, together comprising 80% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +104.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chromates exported from India were France ($X), Thailand ($X) and Kenya ($X), with a combined 70% share of total exports.

France, with a CAGR of +90.2%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average chromates export price stood at $X per ton in 2022, jumping by 69% against the previous year. In general, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 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 Belgium ($X per ton), while the average price for exports to Thailand ($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 Belgium (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Chromates Imports

Imports into India

After two years of growth, overseas purchases of chromates, dichromates and peroxochromates decreased by -71.9% to X tons in 2022. Over the period under review, imports saw a perceptible decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 78%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, chromates imports fell sharply to $X in 2022. Overall, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2017 when imports increased by 53% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

South Africa (X tons), Estonia (X tons) and Russia (X tons) were the main suppliers of chromates imports to India, together comprising 70% of total imports. Kazakhstan, Turkey, Latvia and the United Arab Emirates lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +5,447.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chromates suppliers to India were Estonia ($X), South Africa ($X) and Kazakhstan ($X), together comprising 67% of total imports. Russia, Turkey, the United Arab Emirates and Latvia lagged somewhat behind, together accounting for a further 29%.

The United Arab Emirates, with a CAGR of +491.7%, 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

The average chromates import price stood at $X per ton in 2022, picking up by 49% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 the United Arab Emirates ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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