Southern Asia: Market for Double Or Complex Silicates 2024

Market Size for Double Or Complex Silicates in Southern Asia

The South Asian double or complex silicates market expanded sharply to $X in 2021, picking up by 9.5% against the previous year. The market value increased at an average annual rate of +3.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Production of Double Or Complex Silicates in Southern Asia

In value terms, double or complex silicates production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 26%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Double Or Complex Silicates

Exports in Southern Asia

In 2021, double or complex silicates exports in Southern Asia surged to X tons, growing by 15% compared with the year before. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 74% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, double or complex silicates exports skyrocketed to $X in 2021. In general, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

The biggest shipments were from India (X tons), together resulting at 99.9% of total export.

India was also the fastest-growing in terms of the double or complex silicates exports, with a CAGR of +10.7% 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 double or complex silicates supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India amounted to +13.0%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, surging by 2.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2014 an increase of 60%. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat 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 +2.1% per year.

Imports of Double Or Complex Silicates

Imports in Southern Asia

Double or complex silicates imports soared to X tons in 2021, jumping by 72% compared with 2020. In general, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 152%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, double or complex silicates imports surged to $X in 2021. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 92%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

India prevails in imports structure, recording X tons, which was approx. 87% of total imports in 2021. It was distantly followed by Pakistan (X tons), achieving a 7.4% share of total imports. Bangladesh (X tons), Sri Lanka (X tons) and Nepal (X tons) held a minor share of total imports.

India was also the fastest-growing in terms of the double or complex silicates imports, with a CAGR of +41.5% from 2012 to 2021. At the same time, Sri Lanka (+27.5%), Pakistan (+21.7%) and Nepal (+12.2%) displayed positive paces of growth. By contrast, Bangladesh (-9.2%) illustrated a downward trend over the same period. India (+56 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan, Nepal and Bangladesh saw its share reduced by -2.8%, -2.9% and -50.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported double or complex silicates in Southern Asia, comprising 83% of total imports. The second position in the ranking was held by Pakistan ($X), with a 12% share of total imports. It was followed by Bangladesh, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +32.6%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+25.6% per year) and Bangladesh (-7.2% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, which is down by -12.9% against the previous year. In general, the import price saw a slight reduction. The pace of growth appeared the most rapid in 2020 an increase of 15% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Sri Lanka ($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 (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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