Southern Asia: Carbides Market 2024

Carbides Market Size in Southern Asia

The South Asian carbides market fell to $X in 2022, waning by -3% against the previous year. In general, consumption saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 6.3%. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Carbides Production in Southern Asia

In value terms, carbides production declined to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 8.9%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Carbides Exports

Exports in Southern Asia

In 2022, shipments abroad of carbides was finally on the rise to reach X tons after four years of decline. Over the period under review, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 24%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, carbides exports surged to $X in 2022. In general, exports, however, showed a perceptible slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

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

India was also the fastest-growing in terms of the carbides exports, with a CAGR of -6.3% 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 carbides supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled -3.4%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, growing by 20% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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.

Carbides Imports

Imports in Southern Asia

In 2022, the amount of carbides imported in Southern Asia contracted rapidly to X tons, reducing by -19.4% on the year before. In general, imports showed a perceptible contraction. The pace of growth was the most pronounced in 2014 when imports increased by 29%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, carbides imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 45% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

India dominates imports structure, recording X tons, which was approx. 88% of total imports in 2022. It was distantly followed by Pakistan (X tons), achieving a 4.7% share of total imports. Bangladesh (X tons) and Sri Lanka (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to carbides imports into India stood at -1.4%. At the same time, Bangladesh (+1.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +1.1% from 2012-2022. Sri Lanka experienced a relatively flat trend pattern. By contrast, Pakistan (-10.2%) illustrated a downward trend over the same period. While the share of India (+4.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Pakistan (-6.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported carbides in Southern Asia, comprising 92% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 2.8% share of total imports. It was followed by Pakistan, with a 2.6% share.

In India, carbides imports increased at an average annual rate of +2.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bangladesh (+6.9% per year) and Pakistan (-9.0% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, increasing by 36% against the previous year. Import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carbides import price increased by +65.2% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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