India: Silicates Market 2024

Silicates Market Size in India

In 2021, the Indian silicates market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Silicates Production in India

In value terms, silicates production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Silicates Exports

Exports from India

After two years of decline, shipments abroad of silicates, commercial alkali metal silicates increased by 40% to X tons in 2021. Overall, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 106% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, silicates exports soared to $X in 2021. Over the period under review, total exports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, 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.

Exports by Country

The Philippines (X tons), Nepal (X tons) and Bangladesh (X tons) were the main destinations of silicates exports from India, together accounting for 49% of total exports. These countries were followed by South Korea, Myanmar, the United States, Mozambique, Sudan, Ghana, South Africa, Nigeria, Trinidad and Tobago and Saudi Arabia, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +55.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Philippines ($X) and Nepal ($X) were the largest markets for silicates exported from India worldwide, with a combined 38% share of total exports.

The Philippines, with a CAGR of +35.0%, 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

The average silicates export price stood at $X per ton in 2021, picking up by 21% against the previous year. Overall, the export price, however, showed a perceptible descent. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 the United States ($X per ton), while the average price for exports to Trinidad and Tobago ($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 Mozambique (+12.2%), while the prices for the other major destinations experienced mixed trend patterns.

Silicates Imports

Imports into India

In 2021, after two years of growth, there was significant decline in supplies from abroad of silicates, commercial alkali metal silicates, when their volume decreased by -20.6% to X tons. Over the period under review, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 55%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, silicates imports contracted modestly to $X in 2021. Overall, imports showed a noticeable slump. The most prominent rate of growth was recorded in 2019 with an increase of 47%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest silicates supplier to India, with a 58% share of total imports. Moreover, silicates imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Belgium (X tons), with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-24.0% per year) and Belgium (-0.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of silicates, commercial alkali metal silicates to India, comprising 65% of total imports. The second position in the ranking was held by China ($X), with a 7.4% share of total imports. It was followed by Belgium, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-18.7% per year) and Belgium (-2.8% per year).

Import Prices by Country

In 2021, the average silicates import price amounted to $X per ton, with an increase of 23% against the previous year. In general, the import price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 50%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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