Southern Asia: Isocyanates Market 2024

Isocyanates Market Size in Southern Asia

The South Asian isocyanates market rose to $X in 2022, picking up by X% against the previous year. In general, consumption, however, saw a pronounced reduction. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Isocyanates Production in Southern Asia

In value terms, isocyanates production amounted to $X in 2022 estimated in export price. Overall, production, however, recorded a pronounced decrease. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Isocyanates Exports

Exports in Southern Asia

In 2022, approx. X tons of isocyanates were exported in Southern Asia; which is down by X% compared with the previous year's figure. Overall, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, isocyanates exports contracted markedly to $X in 2022. In general, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, India (X tons) represented the main exporter of isocyanates in Southern Asia, creating X% of total export.

India was also the fastest-growing in terms of the isocyanates exports, with a CAGR of X% from 2012 to 2022. India (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in India stood at X%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, 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 2022, the rate of growth in terms of prices for India amounted to X% per year.

Isocyanates Imports

Imports in Southern Asia

In 2022, purchases abroad of isocyanates increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, saw a slight slump. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, isocyanates imports soared to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

India represented the largest importing country with an import of about X tons, which finished at X% of total imports. It was distantly followed by Pakistan (X tons), making up a X% share of total imports. The following importers - Bangladesh (X tons) and Sri Lanka (X tons) - each recorded a X% share of total imports.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value in India was relatively modest. In the other countries, the average annual rates were as follows: Pakistan (X% per year) and Sri Lanka (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, surging by X% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, isocyanates import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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