India: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in India

In 2022, the Indian polypropylene in primary forms market increased by 6% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +15.5% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Production of Polypropylene in Primary Forms in India

In value terms, polypropylene in primary forms production shrank to $X in 2022 estimated in export price. Overall, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.5% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 34%. Polypropylene in primary forms production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Polypropylene in Primary Forms

Exports from India

In 2022, approx. X tons of polypropylene in primary forms were exported from India; waning by -20.2% compared with the previous year. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 66%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, polypropylene in primary forms exports reduced notably to $X in 2022. Overall, exports recorded a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 80% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), Turkey (X tons) and Bangladesh (X tons) were the main destinations of polypropylene in primary forms exports from India, together accounting for 45% of total exports. Vietnam, Nepal, Indonesia, Portugal, Italy, Thailand, Nigeria, Israel and Kenya lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +47.7%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), China ($X) and Bangladesh ($X) constituted the largest markets for polypropylene in primary forms exported from India worldwide, together accounting for 42% of total exports. Nepal, Vietnam, Indonesia, Italy, Portugal, Thailand, Israel, Nigeria and Kenya lagged somewhat behind, together comprising a further 41%.

Thailand, with a CAGR of +40.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 polypropylene in primary forms export price stood at $X per ton in 2022, waning by -12.7% against the previous year. Overall, the export price recorded a slight shrinkage. The growth pace was the most rapid in 2021 an increase of 59%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the 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 Thailand ($X per ton), while the average price for exports to China ($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 Nigeria (+0.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polypropylene in Primary Forms

Imports into India

In 2022, the amount of polypropylene in primary forms imported into India soared to X tons, picking up by 39% against the year before. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 43%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, polypropylene in primary forms imports soared to $X in 2022. Overall, imports showed a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by 99% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Singapore (X tons) were the main suppliers of polypropylene in primary forms imports to India, together accounting for 68% of total imports. China, Oman, South Korea, Kuwait and Thailand lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +24.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Singapore ($X) appeared to be the largest polypropylene in primary forms suppliers to India, with a combined 65% share of total imports. China, Oman, South Korea, Thailand and Kuwait lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, China, with a CAGR of +24.0%, recorded 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 2022, the average polypropylene in primary forms import price amounted to $X per ton, with a decrease of -7.4% against the previous year. Over the period under review, the import price recorded a mild slump. The pace of growth appeared the most rapid in 2021 an increase of 39%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :