India: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in India

The Indian market for compounds with other nitrogen function (excluding isocyanates) fell modestly to $X in 2022, waning by -2% against the previous year. Over the period under review, consumption, however, posted a resilient expansion. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2022.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in India

In value terms, compounds with other nitrogen function production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, saw a strong expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 43%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports from India

In 2022, the amount of compounds with other nitrogen function (excluding isocyanates) exported from India reduced to X tons, waning by -9% compared with the previous year. In general, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 87% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, compounds with other nitrogen function exports reduced slightly to $X in 2022. Overall, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 177%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell modestly in the following year.

Exports by Country

The United States (X tons) was the main destination for compounds with other nitrogen function exports from India, accounting for a 87% share of total exports. Moreover, compounds with other nitrogen function exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +31.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+30.0% per year) and Germany (-29.1% per year).

In value terms, the United States ($X) remains the key foreign market for compounds with other nitrogen function (excluding isocyanates) exports from India, comprising 90% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 2.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +37.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+26.9% per year) and Germany (-10.0% per year).

Export Prices by Country

The average export price for compounds with other nitrogen function (excluding isocyanates) stood at $X per ton in 2022, surging by 9.6% against the previous year. Over the period under review, the export price saw a buoyant expansion. The pace of growth was the most pronounced in 2014 when the average export price increased by 149%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Netherlands ($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 Germany (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports into India

In 2022, after two years of growth, there was significant decline in overseas purchases of compounds with other nitrogen function (excluding isocyanates), when their volume decreased by -7.3% to X tons. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 73% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, compounds with other nitrogen function imports surged to $X in 2022. In general, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by 83% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) was the main supplier of compounds with other nitrogen function to India, accounting for a 93% share of total imports. It was followed by the UK (X tons), with a 2.4% share of total imports. Spain (X tons) ranked third in terms of total imports with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+60.5% per year) and Spain (+7.7% per year).

In value terms, China ($X) constituted the largest supplier of compounds with other nitrogen function (excluding isocyanates) to India, comprising 80% of total imports. The second position in the ranking was held by the UK ($X), with a 5.4% share of total imports. It was followed by Spain, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+50.8% per year) and Spain (+12.1% per year).

Import Prices by Country

In 2022, the average import price for compounds with other nitrogen function (excluding isocyanates) amounted to $X per ton, with an increase of 65% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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