Southern Asia: Bumper Market 2024

Bumper Market Size in Southern Asia

For the fourth year in a row, the South Asian bumper market recorded decline in sales value, which decreased by -0.1% to $X in 2022. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Bumper Production in Southern Asia

In value terms, bumper production dropped modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 12%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Bumper Exports

Exports in Southern Asia

In 2022, overseas shipments of bumpers increased by 4.7% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 72% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, bumper exports totaled $X in 2022. Overall, exports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2021 with an increase of 83%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of bumpers, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the bumpers exports, with a CAGR of -6.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in India amounted to -3.9%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2013 an increase of 16% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +3.1% per year.

Bumper Imports

Imports in Southern Asia

In 2022, bumper imports in Southern Asia fell to X tons, waning by -12.8% on 2021 figures. In general, imports showed a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of 47%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, bumper imports reached $X in 2022. Over the period under review, imports, however, posted a pronounced expansion. The growth pace was the most rapid in 2018 with an increase of 66%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) was the main importer of bumpers, mixing up 69% of total imports. It was distantly followed by Nepal (X tons) and Bangladesh (X tons), together making up a 22% share of total imports. The following importers - Sri Lanka (X tons) and Pakistan (X tons) - together made up 6.7% of total imports.

Imports into India decreased at an average annual rate of -1.9% from 2012 to 2022. At the same time, Pakistan (+7.0%), Bangladesh (+5.5%) and Nepal (+3.4%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +7.0% from 2012-2022. By contrast, Sri Lanka (-11.1%) illustrated a downward trend over the same period. While the share of Nepal (+5.6 p.p.), Bangladesh (+4.2 p.p.) and Pakistan (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sri Lanka (-6.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported bumpers in Southern Asia, comprising 84% of total imports. The second position in the ranking was taken by Nepal ($X), with a 5.8% share of total imports. It was followed by Bangladesh, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value in India amounted to +5.2%. In the other countries, the average annual rates were as follows: Nepal (+4.1% per year) and Bangladesh (+10.2% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, surging by 15% against the previous year. Import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bumper import price increased by +40.2% against 2020 indices. The pace of growth was the most pronounced in 2015 an increase of 54%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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