India: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in India

The Indian phenylacetic acid market declined modestly to $X in 2022, waning by X% against the previous year. Overall, the total consumption indicated a perceptible increase from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Phenylacetic Acid Production in India

In value terms, phenylacetic acid production fell to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. Phenylacetic acid production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Phenylacetic Acid Exports

Exports from India

In 2022, approx. X tons of phenylacetic acid, its salts and esters were exported from India; increasing by X% on the year before. In general, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, phenylacetic acid exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a resilient increase. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons), the Netherlands (X tons) and Italy (X tons) were the main destinations of phenylacetic acid exports from India, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phenylacetic acid exported from India were the Netherlands ($X), the United States ($X) and Italy ($X), with a combined X% share of total exports.

The Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average phenylacetic acid export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

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 Brazil ($X per ton), while the average price for exports to Mexico ($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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports into India

Phenylacetic acid imports into India expanded sharply to X tons in 2022, growing by X% against the year before. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, phenylacetic acid imports amounted to $X in 2022. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest phenylacetic acid supplier to India, with a X% share of total imports. Moreover, phenylacetic acid imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of phenylacetic acid, its salts and esters to India, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average phenylacetic acid import price amounted to $X per ton, remaining stable against the previous year. In general, import price indicated moderate growth 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, phenylacetic acid import price increased by X% against 2020 indices. The growth pace was the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 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 China ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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