India: Isocyanates Market 2024

Isocyanates Market Size in India

The Indian isocyanates market totaled $X in 2022, picking up by X% against the previous year. In general, consumption, however, showed a mild shrinkage. Isocyanates consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Isocyanates Production in India

In value terms, isocyanates production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable descent. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Isocyanates Exports

Exports from India

Isocyanates exports from India fell rapidly to X tons in 2022, reducing by X% against 2021 figures. Over the period under review, exports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, isocyanates exports dropped rapidly to $X in 2022. Overall, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for isocyanates exports from India, accounting for a X% share of total exports. Moreover, isocyanates exports to the United Arab Emirates exceeded the volume sent to the second major destination, Tanzania (X tons), ninefold. The third position in this ranking was taken by Kenya (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (X% per year) and Kenya (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for isocyanates exports from India, comprising X% of total exports. The second position in the ranking was held by France ($X), with a X% share of total exports. It was followed by Hungary, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Hungary (X% per year).

Export Prices by Country

The average isocyanates export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price, however, saw a pronounced shrinkage. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Sudan ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Isocyanates Imports

Imports into India

In 2022, supplies from abroad of isocyanates increased by X% to X tons, rising for the second consecutive year after eight years of decline. Over the period under review, imports, however, recorded a noticeable setback. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, isocyanates imports surged to $X in 2022. Overall, imports, however, showed a mild setback. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of isocyanates imports to India, together comprising X% of total imports. The United States, Saudi Arabia, Hungary, Malaysia, the Netherlands, Belgium, Singapore and Germany lagged somewhat behind, together comprising a further X%.

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

In value terms, China ($X), South Korea ($X) and Japan ($X) were the largest isocyanates suppliers to India, with a combined X% share of total imports. The United States, Hungary, the Netherlands, Belgium, Saudi Arabia, Malaysia, Germany and Singapore lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Hungary, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average isocyanates import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, isocyanates import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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