India: Cumene Market 2024

Cumene Market Size in India

The Indian cumene market surged to $X in 2021, increasing by 70% against the previous year. Over the period under review, consumption recorded a buoyant expansion. Cumene consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Cumene Production in India

In value terms, cumene production skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -45.7% against 2017 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 44% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Cumene Exports

Exports from India

In 2021, after three years of growth, there was significant decline in overseas shipments of cumene, when their volume decreased by -16.1% to X tons. Over the period under review, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 651% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, cumene exports reduced slightly to $X in 2021. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 528%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Austria (X tons) was the main destination for cumene exports from India, accounting for a 86% share of total exports. Moreover, cumene exports to Austria exceeded the volume sent to the second major destination, Singapore (X tons), tenfold. The third position in this ranking was taken by the Netherlands (X kg), with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to Austria amounted to +37.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+60.9% per year) and the Netherlands (+73.3% per year).

In value terms, Austria ($X) remains the key foreign market for cumene exports from India, comprising 77% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 17% share of total exports. It was followed by Singapore, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value to Austria totaled +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+63.5% per year) and Singapore (+52.6% per year).

Export Prices by Country

In 2021, the average cumene export price amounted to $X per ton, picking up by 18% against the previous year. In general, the export price, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2017 an increase of 72% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Nepal ($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 Nepal (-1.3%), while the prices for the other major destinations experienced a decline.

Cumene Imports

Imports into India

In 2021, cumene imports into India surged to X tons, with an increase of 56% compared with 2020 figures. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 1,278,899%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, cumene imports soared to $X in 2021. In general, imports recorded a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 1,129,532%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Spain (X tons) and China (X tons) were the main suppliers of cumene imports to India, together comprising 79% of total imports. Saudi Arabia, South Korea, Singapore and Japan lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +1,123.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Spain ($X) and China ($X) constituted the largest cumene suppliers to India, with a combined 85% share of total imports. South Korea, Saudi Arabia, Singapore and Japan lagged somewhat behind, together comprising a further 14%.

In terms of the main suppliers, Saudi Arabia, with a CAGR of +1,771.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cumene import price stood at $X per ton in 2021, surging by 14% against the previous year. Overall, the import price, however, saw a perceptible slump. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+52.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :