Southern Asia: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Southern Asia

The South Asian azo- or azoxy-compounds market surged to $X in 2022, jumping by 18% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +93.4% against 2015 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Azo- Or Azoxy-Compounds Production in Southern Asia

In value terms, azo- or azoxy-compounds production stood at $X in 2022 estimated in export price. Overall, production, however, showed a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 33%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Azo- Or Azoxy-Compounds Exports

Exports in Southern Asia

In 2022, azo- or azoxy-compounds exports in Southern Asia was estimated at X tons, therefore, remained relatively stable against 2021. Over the period under review, exports recorded a strong increase. The most prominent rate of growth was recorded in 2015 when exports increased by 74%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, azo- or azoxy-compounds exports expanded markedly to $X in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 41% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

The shipments of the one major exporters of diazo-, azo- or azoxy-compounds, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the diazo-, azo- or azoxy-compounds exports, with a CAGR of +12.3% 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 azo- or azoxy-compounds supplier in Southern Asia.

In India, azo- or azoxy-compounds exports increased at an average annual rate of +22.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, increasing by 6.7% against the previous year. Over the period under review, the export price recorded prominent growth. The pace of growth was the most pronounced in 2018 an increase of 32% against the previous year. Over the period under review, the export prices attained the peak figure 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 +9.2% per year.

Azo- Or Azoxy-Compounds Imports

Imports in Southern Asia

In 2022, azo- or azoxy-compounds imports in Southern Asia surged to X tons, growing by 51% compared with the year before. Over the period under review, imports showed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, azo- or azoxy-compounds imports surged to $X in 2022. In general, imports saw a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India dominates imports structure, accounting for X tons, which was approx. 84% of total imports in 2022. It was distantly followed by Bangladesh (X tons), constituting a 9.1% share of total imports. Pakistan (X tons) and Nepal (X tons) took a relatively small share of total imports.

India was also the fastest-growing in terms of the diazo-, azo- or azoxy-compounds imports, with a CAGR of +13.6% from 2012 to 2022. At the same time, Nepal (+13.1%) and Bangladesh (+3.2%) displayed positive paces of growth. By contrast, Pakistan (-11.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by +29 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported diazo-, azo- or azoxy-compounds in Southern Asia, comprising 87% of total imports. The second position in the ranking was held by Pakistan ($X), with a 5.3% share of total imports. It was followed by Bangladesh, with a 5% share.

In India, azo- or azoxy-compounds imports increased at an average annual rate of +16.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (-3.1% per year) and Bangladesh (+1.0% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, rising by 9.1% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2016 when the import price increased by 31% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+9.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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