India: Pyrites Market 2024

Pyrites Market Size in India

The Indian pyrites market totaled $X in 2022, leveling off at the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Pyrites Production in India

In value terms, pyrites production amounted to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 11%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Pyrites Exports

Exports from India

In 2022, shipments abroad of pyrites decreased by -10.9% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2016 with an increase of 233% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, pyrites exports dropped to $X in 2022. Overall, exports, however, saw a buoyant increase. The growth pace was the most rapid in 2016 when exports increased by 183%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), Thailand (X tons) and the Philippines (X tons) were the main destinations of pyrites exports from India, together accounting for 44% of total exports. The Netherlands, Turkey, South Korea, Myanmar, Bangladesh, Indonesia, Malaysia, the UK, Australia and Ghana lagged somewhat behind, together accounting for a further 50%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +68.8%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Saudi Arabia ($X) and the Netherlands ($X) appeared to be the largest markets for pyrites exported from India worldwide, together accounting for 44% of total exports.

Thailand, with a CAGR of +79.4%, saw the highest rates of growth with regard to 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

In 2022, the average pyrites export price amounted to $X per ton, picking up by 2.5% against the previous year. In general, the export price, however, continues to indicate a deep slump. The growth pace was the most rapid in 2015 when the average export price increased by 50%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Ghana ($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 Myanmar (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Pyrites Imports

Imports into India

In 2022, overseas purchases of pyrites decreased by -11.2% to X tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 110%. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, pyrites imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 96%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of pyrites to India, with a 58% share of total imports. Moreover, pyrites imports from Turkey exceeded the figures recorded by the second-largest supplier, Croatia (X tons), twofold. The third position in this ranking was held by Russia (X tons), with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+15.5% per year) and Russia (+93.1% per year).

In value terms, the largest pyrites suppliers to India were Turkey ($X), Croatia ($X) and Russia ($X), with a combined 90% share of total imports.

In terms of the main suppliers, Russia, with a CAGR of +132.6%, 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 pyrites import price amounted to $X per ton, picking up by 31% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 56%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :