India: P-Xylene Market 2024

P-Xylene Market Size in India

In 2021, the Indian p-xylene market increased by 4.5% to $X, rising for the fourth year in a row after four years of decline. In general, consumption, however, enjoyed a prominent expansion. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in the near future.

P-Xylene Production in India

In value terms, p-xylene production reached $X in 2021 estimated in export price. In general, production, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 170%. P-xylene production peaked at $X in 2019; afterwards, it flattened through to 2021.

P-Xylene Exports

Exports from India

In 2021, after four years of growth, there was significant decline in overseas shipments of p-xylene, when their volume decreased by -14.9% to X tons. Overall, exports, however, saw a strong increase. The pace of growth was the most pronounced in 2017 with an increase of 153% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then contracted in the following year.

In value terms, p-xylene exports skyrocketed to $X in 2021. In general, exports, however, saw a strong expansion. The growth pace was the most rapid in 2017 with an increase of 165% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for p-xylene exports from India, with a 42% share of total exports. Moreover, p-xylene exports to China exceeded the volume sent to the second major destination, the United States (X tons), threefold. Malaysia (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +38.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+734.3% per year) and Malaysia (+9.7% per year).

In value terms, China ($X) remains the key foreign market for p-xylene exports from India, comprising 41% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by Malaysia, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+635.9% per year) and Malaysia (+3.3% per year).

Export Prices by Country

In 2021, the average p-xylene export price amounted to $X per ton, rising by 39% against the previous year. In general, the export price, however, recorded a abrupt curtailment. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, the countries with the highest prices were Portugal ($X per ton) and Indonesia ($X per ton), while the average price for exports to Brazil ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (-2.6%), while the prices for the other major destinations experienced a decline.

P-Xylene Imports

Imports into India

In 2021, overseas purchases of p-xylene decreased by -3.5% to X tons, falling for the fifth consecutive year after two years of growth. Overall, total imports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -47.5% against 2016 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 54% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, p-xylene imports soared to $X in 2021. In general, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 46%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X tons), Oman (X tons) and Saudi Arabia (X tons) were the main suppliers of p-xylene imports to India, with a combined 78% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +6.7%), while imports for the other leaders experienced a decline.

In value terms, Japan ($X), Saudi Arabia ($X) and Singapore ($X) appeared to be the largest p-xylene suppliers to India, with a combined 79% share of total imports.

Saudi Arabia, with a CAGR of +4.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average p-xylene import price amounted to $X per ton, increasing by 28% against the previous year. Overall, the import price, however, recorded a abrupt contraction. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Saudi Arabia ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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