India: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in India

In 2022, the Indian polycarboxylic acid market increased by 8.2% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate a prominent increase. Polycarboxylic acid consumption peaked in 2022 and is expected to retain growth in years to come.

Polycarboxylic Acid Production in India

In value terms, polycarboxylic acid production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production showed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 65%. Polycarboxylic acid production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Polycarboxylic Acid Exports

Exports from India

In 2022, approx. X tons of polycarboxylic acids were exported from India; reducing by -38.1% on the previous year. Over the period under review, exports, however, saw a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 130%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, polycarboxylic acid exports declined to $X in 2022. In general, exports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2016 when exports increased by 48%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for polycarboxylic acid exports from India, accounting for a 27% share of total exports. Moreover, polycarboxylic acid exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. Turkey (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+8.7% per year) and Turkey (+9.4% per year).

In value terms, the United States ($X) remains the key foreign market for polycarboxylic acids exports from India, comprising 33% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 8.8% share of total exports. It was followed by Egypt, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+8.5% per year) and Egypt (+22.5% per year).

Export Prices by Country

In 2022, the average polycarboxylic acid export price amounted to $X per ton, rising by 40% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 46%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Turkey ($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 the Netherlands (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Polycarboxylic Acid Imports

Imports into India

In 2022, approx. X tons of polycarboxylic acids were imported into India; increasing by 11% compared with the previous year. Overall, imports showed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 140%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, polycarboxylic acid imports soared to $X in 2022. In general, imports showed buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 178% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest polycarboxylic acid supplier to India, accounting for a 53% share of total imports. Moreover, polycarboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +33.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+35.7% per year) and Thailand (+3.8% per year).

In value terms, China ($X) constituted the largest supplier of polycarboxylic acids to India, comprising 54% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 19% share of total imports. It was followed by Thailand, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+29.3% per year) and Thailand (+1.8% per year).

Import Prices by Country

In 2022, the average polycarboxylic acid import price amounted to $X per ton, with an increase of 18% against the previous year. Over the period under review, the import price, however, saw a mild shrinkage. The growth pace was the most rapid in 2017 when the average import price increased by 19% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Malaysia ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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