India: Sulphites Market 2024

Sulphites Market Size in India

In 2022, the Indian sulphites market decreased by -2.7% to $X, falling for the second year in a row after nine years of growth. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.6% against 2020 indices. Sulphites consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Sulphites Production in India

In value terms, sulphites production fell slightly to $X in 2022 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 -1.0% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 19%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Sulphites Exports

Exports from India

In 2022, the amount of sulphites exported from India rose remarkably to X tons, with an increase of 11% compared with 2021 figures. In general, exports saw buoyant growth. The pace of growth was the most pronounced in 2013 when exports increased by 52%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, sulphites exports soared to $X in 2022. Overall, exports posted a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 72% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

South Africa (X tons) was the main destination for sulphites exports from India, accounting for a 57% share of total exports. Moreover, sulphites exports to South Africa exceeded the volume sent to the second major destination, the United States (X tons), threefold. Malaysia (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume to South Africa totaled +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+66.8% per year) and Malaysia (+35.1% per year).

In value terms, South Africa ($X) remains the key foreign market for sulphites exports from India, comprising 46% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by Malaysia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to South Africa totaled +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+34.8% per year) and Malaysia (+34.7% per year).

Export Prices by Country

In 2022, the average sulphites export price amounted to $X per ton, rising by 27% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to the United States ($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 South Africa (+1.9%), while the prices for the other major destinations experienced a decline.

Sulphites Imports

Imports into India

In 2022, purchases abroad of sulphites increased by 0.8% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 31%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, sulphites imports skyrocketed to $X in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and Saudi Arabia (X tons) were the main suppliers of sulphites imports to India, together comprising 97% of total imports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +1,173.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Saudi Arabia ($X) were the largest sulphites suppliers to India, together comprising 94% of total imports.

Saudi Arabia, with a CAGR of +1,072.3%, saw the highest growth rate of the value of imports, among the main suppliers 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 sulphites import price amounted to $X per ton, picking up by 35% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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