Southern Asia: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Southern Asia

The South Asian plant-growth regulators market totaled $X in 2022, rising by 3.2% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -16.5% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Plant-Growth Regulators Production in Southern Asia

In value terms, plant-growth regulators production fell slightly to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.3% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 22% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

Plant-Growth Regulators Exports

Exports in Southern Asia

For the eighth year in a row, Southern Asia recorded growth in shipments abroad of plant-growth regulators, which increased by 17% to X tons in 2022. Over the period under review, exports showed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 53%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, plant-growth regulators exports soared to $X in 2022. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 54%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, India (X tons) represented the major exporter of plant-growth regulators in Southern Asia, achieving 99.9% of total export.

India was also the fastest-growing in terms of the plant-growth regulators exports, with a CAGR of +19.4% 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 plant-growth regulators supplier in Southern Asia.

In India, plant-growth regulators exports increased at an average annual rate of +26.1% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, rising by 18% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 25%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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 +5.6% per year.

Plant-Growth Regulators Imports

Imports in Southern Asia

In 2022, purchases abroad of plant-growth regulators decreased by -1.2% to X tons, falling for the second year in a row after nine years of growth. Overall, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 35%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plant-growth regulators imports expanded remarkably to $X in 2022. Over the period under review, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 32% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

India represented the largest importer of plant-growth regulators in Southern Asia, with the volume of imports resulting at X tons, which was approx. 64% of total imports in 2022. Bangladesh (X tons) held the second position in the ranking, followed by Pakistan (X tons). All these countries together held near 32% share of total imports. The following importers - Sri Lanka (X tons) and Nepal (X tons) - together made up 4.4% of total imports.

Imports into India increased at an average annual rate of +19.5% from 2012 to 2022. At the same time, Nepal (+42.2%), Bangladesh (+18.6%) and Pakistan (+8.1%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +42.2% from 2012-2022. By contrast, Sri Lanka (-11.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Bangladesh increased by +28 and +7.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported plant-growth regulators in Southern Asia, comprising 78% of total imports. The second position in the ranking was held by Pakistan ($X), with an 11% share of total imports. It was followed by Bangladesh, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +14.4%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+10.2% per year) and Bangladesh (+13.8% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, picking up by 12% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 33%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 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 Sri Lanka ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform