India: Hydrogen Chloride Market 2024

Hydrogen Chloride Market Size in India

In 2021, after two years of decline, there was growth in the Indian hydrogen chloride market, when its value increased by 0.6% to $X. Over the period under review, consumption, however, continues to indicate a mild slump. The growth pace was the most rapid in 2018 with an increase of 5.1% against the previous year. Hydrogen chloride consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Hydrogen Chloride Production in India

In value terms, hydrogen chloride production totaled $X in 2021 estimated in export price. Overall, production, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2018 when the production volume increased by 4.9%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hydrogen Chloride Exports

Exports from India

In 2021, approx. X tons of hydrogen chloride (hydrochloric acid) were exported from India; jumping by 19% against 2020. Over the period under review, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 43% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, hydrogen chloride exports soared to $X in 2021. The total export value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons), South Africa (X tons) and Nepal (X tons) were the main destinations of hydrogen chloride exports from India, together accounting for 51% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +95.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hydrogen chloride exported from India were South Africa ($X), Malaysia ($X) and Vietnam ($X), together accounting for 54% of total exports.

Among the main countries of destination, South Africa, with a CAGR of +88.8%, recorded the highest rates of growth with regard to 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

The average hydrogen chloride export price stood at $X per ton in 2021, with an increase of 22% against the previous year. Overall, the export price, however, recorded a perceptible decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Nepal ($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 Nigeria (+1.0%), while the prices for the other major destinations experienced a decline.

Hydrogen Chloride Imports

Imports into India

In 2021, approx. X tons of hydrogen chloride (hydrochloric acid) were imported into India; with a decrease of -48.3% on the year before. In general, imports saw a deep slump. The pace of growth was the most pronounced in 2019 when imports increased by 81% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, hydrogen chloride imports declined remarkably to $X in 2021. Overall, imports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 32% against the previous year. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.

Imports by Country

Germany (X tons), Belgium (X tons) and South Korea (X tons) were the main suppliers of hydrogen chloride imports to India, together accounting for 81% of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +443.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of hydrogen chloride (hydrochloric acid) to India, comprising 43% of total imports. The second position in the ranking was held by Belgium ($X), with a 17% share of total imports. It was followed by South Korea, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.8% per year) and South Korea (+332.9% per year).

Import Prices by Country

In 2021, the average hydrogen chloride import price amounted to $X per ton, with an increase of 32% against the previous year. Overall, the import price posted prominent growth. The growth pace was the most rapid in 2020 an increase of 74% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :