India: Polyethylene Binder Market 2024

Polyethylene Binder Market Size in India

The Indian polyethylene binder market declined to $X in 2022, approximately mirroring the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Polyethylene Binder Production in India

In value terms, polyethylene binder production declined to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 19% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Polyethylene Binder Exports

Exports from India

In 2022, overseas shipments of polyethylene or polypropylene binder or baler (agricultural) twines decreased by -13.4% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 339%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, polyethylene binder exports reduced to $X in 2022. Over the period under review, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 321%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

Cameroon (X tons) was the main destination for polyethylene binder exports from India, with a 31% share of total exports. Moreover, polyethylene binder exports to Cameroon exceeded the volume sent to the second major destination, Yemen (X tons), threefold. The third position in this ranking was taken by Australia (X tons), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cameroon stood at +189.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+34.2% per year) and Australia (+69.0% per year).

In value terms, Cameroon ($X) emerged as the key foreign market for polyethylene or polypropylene binder or baler (agricultural) twines exports from India, comprising 32% of total exports. The second position in the ranking was taken by Yemen ($X), with a 9.1% share of total exports. It was followed by Australia, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value to Cameroon amounted to +189.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+22.1% per year) and Australia (+61.2% per year).

Export Prices by Country

In 2022, the average polyethylene binder export price amounted to $X per ton, rising by 5.4% against the previous year. Overall, the export price, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2015 an increase of 26%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Nepal ($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 Nepal (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Binder Imports

Imports into India

In 2022, purchases abroad of polyethylene or polypropylene binder or baler (agricultural) twines increased by 607% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 138,400% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, polyethylene binder imports skyrocketed to $X in 2022. In general, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 267,333% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Hungary (X tons), Portugal (X tons) and Vietnam (X tons) were the main suppliers of polyethylene binder imports to India, together accounting for 91% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +1,190.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Portugal ($X) and Vietnam ($X) appeared to be the largest polyethylene binder suppliers to India, with a combined 91% share of total imports.

In terms of the main suppliers, Hungary, with a CAGR of +1,240.8%, recorded the highest growth rate of 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 2022, the average polyethylene binder import price amounted to $X per ton, dropping by -4.2% against the previous year. Over the period under review, the import price showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when the average import price increased by 93% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Hungary ($X per ton) and Portugal ($X per ton), while the price for Vietnam ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :