India: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in India

In 2021, the Indian aromatic hydrocarbons derivatives market decreased by -17.9% to $X, falling for the second year in a row after eight years of growth. Overall, consumption, however, posted strong growth. Aromatic hydrocarbons derivatives consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Aromatic Hydrocarbons Derivatives Production in India

In value terms, aromatic hydrocarbons derivatives production expanded notably to $X in 2021 estimated in export price. Over the period under review, production showed a significant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 193%. Aromatic hydrocarbons derivatives production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Aromatic Hydrocarbons Derivatives Exports

Exports from India

In 2021, after three years of decline, there was significant growth in overseas shipments of halogenated derivatives of aromatic hydrocarbons, when their volume increased by 28% to X tons. Overall, total exports indicated a resilient increase from 2013 to 2021: its volume increased at an average annual rate of +12.0% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by 63%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, aromatic hydrocarbons derivatives exports skyrocketed to $X in 2021. In general, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 45%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Japan (X tons) and China (X tons) were the main destinations of aromatic hydrocarbons derivatives exports from India, with a combined 71% share of total exports. Brazil, the United Arab Emirates, the Netherlands, Mexico, Costa Rica, Nigeria and Turkey lagged somewhat behind, together accounting for a further 16%.

From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +58.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for aromatic hydrocarbons derivatives exported from India were China ($X), the United States ($X) and Japan ($X), together accounting for 61% of total exports.

Among the main countries of destination, China, with a CAGR of +56.9%, 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

In 2021, the average aromatic hydrocarbons derivatives export price amounted to $X per ton, picking up by 12% against the previous year. Over the last eight-year period, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2019 when the average export price increased by 18%. The export price peaked in 2021 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 China ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+8.4%), while the prices for the other major destinations experienced mixed trend patterns.

Aromatic Hydrocarbons Derivatives Imports

Imports into India

After four years of growth, purchases abroad of halogenated derivatives of aromatic hydrocarbons decreased by -6.8% to X tons in 2021. Over the period under review, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 72%. Over the period under review, imports hit record highs at X tons in 2020, and then contracted in the following year.

In value terms, aromatic hydrocarbons derivatives imports rose significantly to $X in 2021. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 91% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Japan (X tons) and Belgium (X tons) were the main suppliers of aromatic hydrocarbons derivatives imports to India, with a combined 85% share of total imports. Germany, Italy and the Netherlands lagged somewhat behind, together accounting for a further 11%.

From 2013 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +218.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of halogenated derivatives of aromatic hydrocarbons to India, comprising 69% of total imports. The second position in the ranking was taken by Japan ($X), with a 17% share of total imports. It was followed by Belgium, with a 7.7% share.

From 2013 to 2021, the average annual rate of growth in terms of value from China amounted to +22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+23.4% per year) and Belgium (+41.0% per year).

Import Prices by Country

The average aromatic hydrocarbons derivatives import price stood at $X per ton in 2021, growing by 20% against the previous year. Over the last eight years, it increased at an average annual rate of +2.9%. As a result, import price attained 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 China ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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