India: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in India

After three years of growth, the Indian o-acetylsalicylic acid market decreased by -0.1% to $X in 2021. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2020, and then contracted slightly in the following year.

O-Acetylsalicylic Acid Production in India

In value terms, o-acetylsalicylic acid production declined to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 21%. O-acetylsalicylic acid production peaked at $X in 2020, and then reduced in the following year.

O-Acetylsalicylic Acid Exports

Exports from India

In 2021, shipments abroad of o-acetylsalicylic acid, its salts and esters decreased by -39.3% to X tons, falling for the fourth year in a row after six years of growth. Overall, exports, however, enjoyed a tangible expansion. The pace of growth was the most pronounced in 2015 with an increase of 111%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, o-acetylsalicylic acid exports declined slightly to $X in 2021. Over the period under review, exports, however, saw a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 113% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for o-acetylsalicylic acid exports from India, accounting for a 54% share of total exports. Moreover, o-acetylsalicylic acid exports to the United States exceeded the volume sent to the second major destination, Italy (X tons), fourfold. South Africa (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+21.2% per year) and South Africa (+12.3% per year).

In value terms, the United States ($X), Italy ($X) and South Africa ($X) appeared to be the largest markets for o-acetylsalicylic acid exported from India worldwide, with a combined 73% share of total exports. These countries were followed by Algeria, Kenya, Mexico, Ukraine and Germany, which together accounted for a further 12%.

Among the main countries of destination, Kenya, with a CAGR of +115.0%, saw 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 o-acetylsalicylic acid export price stood at $X per ton in 2021, rising by 63% against the previous year. Over the period under review, the export price showed a resilient increase. As a result, the export price reached 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 Italy ($X per ton), while the average price for exports to South Africa ($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 Italy (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

O-Acetylsalicylic Acid Imports

Imports into India

In 2021, approx. X tons of o-acetylsalicylic acid, its salts and esters were imported into India; shrinking by -72.3% compared with 2020. In general, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2014 when imports increased by 286% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, o-acetylsalicylic acid imports dropped sharply to $X in 2021. Overall, imports, however, saw notable growth. The most prominent rate of growth was recorded in 2015 with an increase of 244%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest o-acetylsalicylic acid supplier to India, accounting for a 83% share of total imports. Moreover, o-acetylsalicylic acid imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. The United States (X kg) ranked third in terms of total imports with a 0.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+34.3% per year) and the United States (-20.6% per year).

In value terms, China ($X) constituted the largest supplier of o-acetylsalicylic acid, its salts and esters to India, comprising 84% of total imports. The second position in the ranking was taken by Thailand ($X), with a 15% share of total imports. It was followed by the United States, with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+22.2% per year) and the United States (-26.2% per year).

Import Prices by Country

In 2021, the average o-acetylsalicylic acid import price amounted to $X per ton, shrinking by -21.5% against the previous year. In general, the import price saw a abrupt decline. The pace of growth was the most pronounced in 2017 when the average import price increased by 29% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were China ($X per ton) and France ($X per ton), while the price for Thailand ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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