India: Memories Market 2024

Memories Market Size in India

The Indian memories market surged to $X in 2021, increasing by 226% against the previous year. In general, consumption continues to indicate prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Memories Production in India

In value terms, memories production soared to $X in 2021 estimated in export price. Over the period under review, production recorded prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of 306% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Memories Exports

Exports from India

In 2021, memories exports from India surged to X units, increasing by 52% compared with the previous year. Over the period under review, exports, however, recorded a noticeable contraction. The pace of growth appeared the most rapid in 2016 with an increase of 59%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, memories exports surged to $X in 2021. Overall, exports recorded a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X units) was the main destination for memories exports from India, with a 63% share of total exports. Moreover, memories exports to Hong Kong SAR exceeded the volume sent to the second major destination, Vietnam (X units), threefold. Hungary (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR totaled -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+56.9% per year) and Hungary (+164.3% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for multichip integrated circuits: memories exports from India, comprising 69% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 18% share of total exports. It was followed by Singapore, with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam totaled +122.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-2.3% per year) and Singapore (+2.2% per year).

Export Prices by Country

In 2021, the average memories export price amounted to $X per unit, jumping by 152% against the previous year. Over the period under review, the export price showed prominent growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Hungary ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+42.1%), while the prices for the other major destinations experienced more modest paces of growth.

Memories Imports

Imports into India

In 2021, overseas purchases of multichip integrated circuits: memories were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports saw a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, memories imports skyrocketed to $X in 2021. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 1,524% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

Singapore (X units), South Korea (X units) and China (X units) were the main suppliers of memories imports to India, together comprising 75% of total imports. Hong Kong SAR, Vietnam, Thailand, Malaysia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +143.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), South Korea ($X) and China ($X) constituted the largest memories suppliers to India, with a combined 88% share of total imports. Singapore, Vietnam, Taiwan (Chinese), Thailand and Malaysia lagged somewhat behind, together accounting for a further 7.9%.

Among the main suppliers, Vietnam, with a CAGR of +151.9%, recorded 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 2021, the average memories import price amounted to $X per unit, dropping by -44.3% against the previous year. In general, the import price, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 570% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+39.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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