Southern Asia: Abrasives Market 2024

Abrasives Market Size in Southern Asia

The South Asian abrasives market skyrocketed to $X in 2021, jumping by 17% against the previous year. Over the period under review, consumption saw strong growth. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

Abrasives Production in Southern Asia

In value terms, abrasives production rose notably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a slight decrease. The pace of growth appeared the most rapid in 2018 with an increase of 41% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Abrasives Exports

Exports in Southern Asia

For the third consecutive year, Southern Asia recorded decline in shipments abroad of abrasives (natural), which decreased by -10.4% to X tons in 2021. Overall, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 14% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, abrasives exports dropped to $X in 2021. Over the period under review, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2018 with an increase of 46%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from India (X tons), together reaching 100% of total export.

India was also the fastest-growing in terms of the abrasives (natural) exports, with a CAGR of -17.6% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest abrasives supplier in Southern Asia.

In India, abrasives exports decreased by an average annual rate of -15.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, growing by 4.1% against the previous year. Over the last nine years, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2018 an increase of 28% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +3.2% per year.

Abrasives Imports

Imports in Southern Asia

In 2021, imports of abrasives (natural) in Southern Asia skyrocketed to X tons, jumping by 23% compared with 2020 figures. Overall, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 46% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, abrasives imports soared to $X in 2021. In general, imports saw a buoyant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 46%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

Bangladesh was the major importer of abrasives (natural) in Southern Asia, with the volume of imports finishing at X tons, which was approx. 71% of total imports in 2021. It was distantly followed by Pakistan (X tons) and Sri Lanka (X tons), together mixing up a 25% share of total imports. India (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to abrasives imports into Bangladesh stood at +20.3%. At the same time, Pakistan (+26.5%) and Sri Lanka (+19.4%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +26.5% from 2012-2021. By contrast, India (-5.7%) illustrated a downward trend over the same period. Bangladesh (+14 p.p.) and Pakistan (+7.8 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -22.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bangladesh ($X) constitutes the largest market for imported abrasives (natural) in Southern Asia, comprising 55% of total imports. The second position in the ranking was held by Pakistan ($X), with a 25% share of total imports. It was followed by Sri Lanka, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Bangladesh amounted to +13.9%. In the other countries, the average annual rates were as follows: Pakistan (+14.1% per year) and Sri Lanka (+15.0% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, increasing by 9.3% against the previous year. Overall, the import price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 when the import price increased by 14%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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