Southern Asia: Plaster Article Market 2024

Plaster Article Market Size in Southern Asia

The South Asian plaster article market contracted to $X in 2021, which is down by -12.4% against the previous year. The market value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Plaster Article Production in Southern Asia

In value terms, plaster article production declined rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 44% against the previous year. As a result, production attained the peak level of $X, and then shrank dramatically in the following year.

Plaster Article Exports

Exports in Southern Asia

In 2021, approx. X tons of articles of plaster or of compositions based on plaster were exported in Southern Asia; rising by 107% compared with 2020 figures. In general, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 125%. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, plaster article exports soared to $X in 2021. Overall, exports continue to indicate a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India prevails in exports structure, amounting to X tons, which was near 94% of total exports in 2021. It was distantly followed by Pakistan (X tons), creating a 4.8% share of total exports.

India was also the fastest-growing in terms of the articles of plaster or of compositions based on plaster exports, with a CAGR of +44.0% from 2012 to 2021. Pakistan (-18.5%) illustrated a downward trend over the same period. While the share of India (+84 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Pakistan (-83 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest plaster article supplier in Southern Asia, comprising 95% of total exports. The second position in the ranking was held by Pakistan ($X), with a 3.8% share of total exports.

In India, plaster article exports expanded at an average annual rate of +25.2% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, with a decrease of -3.8% against the previous year. Over the period under review, the export price saw a slight setback. The growth pace was the most rapid in 2016 an increase of 83%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+0.1%).

Plaster Article Imports

Imports in Southern Asia

In 2021, approx. X tons of articles of plaster or of compositions based on plaster were imported in Southern Asia; jumping by 33% against the previous year's figure. In general, imports saw a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 39% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, plaster article imports skyrocketed to $X in 2021. Over the period under review, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 40%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) represented the largest importer of articles of plaster or of compositions based on plaster, creating 80% of total imports. It was distantly followed by Nepal (X tons), committing an 11% share of total imports. The following importers - Sri Lanka (X tons) and Pakistan (X tons) - together made up 5.4% of total imports.

From 2012 to 2021, average annual rates of growth with regard to plaster article imports into India stood at +16.1%. At the same time, Nepal (+23.2%) and Pakistan (+7.5%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +23.2% from 2012-2021. Sri Lanka experienced a relatively flat trend pattern. India (+18 p.p.) and Nepal (+6 p.p.) significantly strengthened its position in terms of the total imports, while Sri Lanka saw its share reduced by -7.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported articles of plaster or of compositions based on plaster in Southern Asia, comprising 73% of total imports. The second position in the ranking was taken by Nepal ($X), with a 14% share of total imports. It was followed by Sri Lanka, with a 5% share.

In India, plaster article imports expanded at an average annual rate of +6.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Nepal (+23.3% per year) and Sri Lanka (+1.4% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, increasing by 2.9% against the previous year. Overall, the import price, however, recorded a deep downturn. The pace of growth was the most pronounced in 2018 when the import price increased by 7.1% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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