India: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in India

In 2021, after five years of growth, there was decline in the Indian market for plastic hoses and hose fittings, when its value decreased by -2% to $X. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +65.6% against 2015 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then reduced slightly in the following year.

Production of Plastic Hoses and Hose Fittings in India

In value terms, plastic hose and hose fitting production shrank modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +77.9% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 22%. Plastic hose and hose fitting production peaked at $X in 2020, and then dropped modestly in the following year.

Exports of Plastic Hoses and Hose Fittings

Exports from India

In 2021, shipments abroad of plastic hoses and hose fittings increased by 33% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic hose and hose fitting exports skyrocketed to $X in 2021. In general, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for plastic hose and hose fitting exports from India, accounting for a 32% share of total exports. Moreover, plastic hose and hose fitting exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by Ghana (X tons), with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-0.8% per year) and Ghana (+7.3% per year).

In value terms, the United States ($X) remains the key foreign market for plastic hoses and hose fittings exports from India, comprising 43% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 5.8% share of total exports. It was followed by Germany, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+7.4% per year) and Germany (+8.4% per year).

Export Prices by Country

The average export price for plastic hoses and hose fittings stood at $X per ton in 2021, jumping by 17% against the previous year. Over the period under review, the export price continues to indicate buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Tanzania ($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 China (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Hoses and Hose Fittings

Imports into India

In 2021, the amount of plastic hoses and hose fittings imported into India skyrocketed to X tons, with an increase of 25% on the year before. Overall, imports recorded resilient growth. The growth pace was the most rapid in 2014 with an increase of 74%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, plastic hose and hose fitting imports skyrocketed to $X in 2021. Over the period under review, imports posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest plastic hose and hose fitting supplier to India, accounting for a 46% share of total imports. Moreover, plastic hose and hose fitting imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.5% per year) and South Korea (+14.1% per year).

In value terms, the largest plastic hose and hose fitting suppliers to India were China ($X), the United States ($X) and Germany ($X), with a combined 52% share of total imports. These countries were followed by South Korea, the UK, Japan, the United Arab Emirates, Malaysia, Italy, Turkey and Thailand, which together accounted for a further 28%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +50.7%, 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 2021, the average import price for plastic hoses and hose fittings amounted to $X per ton, increasing by 28% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+28.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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