India: Sulphur Market 2024

Sulphur Market Size in India

In 2022, the Indian sulphur market decreased by -18.3% to $X, falling for the third consecutive year after four years of growth. Overall, consumption continues to indicate a perceptible decrease. Sulphur consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sulphur Production in India

In value terms, sulphur production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 13%. Sulphur production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Sulphur Exports

Exports from India

In 2022, approx. X tons of sulphur were exported from India; rising by 52% on the previous year. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 161%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, sulphur exports skyrocketed to $X in 2022. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 234%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for sulphur exports from India, accounting for a 78% share of total exports. Moreover, sulphur exports to China exceeded the volume sent to the second major destination, South Africa (X tons), sevenfold. The third position in this ranking was taken by Morocco (X tons), with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+30.0% per year) and Morocco (0.0% per year).

In value terms, China ($X) remains the key foreign market for sulphur exports from India, comprising 81% of total exports. The second position in the ranking was taken by South Africa ($X), with a 10% share of total exports. It was followed by Morocco, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +28.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+35.6% per year) and Morocco (0.0% per year).

Export Prices by Country

The average sulphur export price stood at $X per ton in 2022, increasing by 74% against the previous year. Over the period under review, the export price continues to indicate a temperate expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Morocco ($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 Jordan (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphur Imports

Imports into India

Sulphur imports into India reduced to X tons in 2022, which is down by -13.9% compared with the year before. Overall, imports showed a perceptible descent. The pace of growth was the most pronounced in 2021 when imports increased by 43% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sulphur imports expanded rapidly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 249%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Qatar (X tons) constituted the largest sulphur supplier to India, accounting for a 64% share of total imports. Moreover, sulphur imports from Qatar exceeded the figures recorded by the second-largest supplier, Kuwait (X tons), fourfold. The third position in this ranking was taken by Saudi Arabia (X tons), with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume from Qatar totaled +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Kuwait (-2.7% per year) and Saudi Arabia (-11.7% per year).

In value terms, Qatar ($X) constituted the largest supplier of sulphur to India, comprising 64% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 15% share of total imports. It was followed by Japan, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from Qatar stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Kuwait (+0.1% per year) and Japan (+36.2% per year).

Import Prices by Country

In 2022, the average sulphur import price amounted to $X per ton, picking up by 30% against the previous year. Over the period under review, the import price continues to indicate pronounced growth. The pace of growth appeared the most rapid in 2021 an increase of 143%. The import price peaked in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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