Price for Asbestos, Other than Crocidolite in India - 2023

Price for Asbestos, Other than Crocidolite in India (CIF) - 2023

In October 2023, the average asbestos, other than crocidolite import price amounted to $703 per ton, rising by 149% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The import price peaked at $736 per ton in December 2022; however, from January 2023 to October 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Turkey ($1,007 per ton), while the price for Brazil ($657 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Turkey (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Asbestos, Other than Crocidolite in India (FOB) - 2022

In 2022, the average asbestos, other than crocidolite export price amounted to $558 per ton, surging by 12% against the previous year. In general, the export price saw a significant increase. The most prominent rate of growth was recorded in 2014 an increase of 4,775% against the previous year. The export price peaked at $729 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($759 per ton), while the average price for exports to Nepal stood at $32 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+9.4%), while the prices for the other major destinations experienced a decline.

Imports of Asbestos, Other than Crocidolite in India

In 2022, the amount of asbestos, other than crocidolites imported into India expanded modestly to 426K tons, surging by 3.9% compared with 2021 figures. The total import volume increased at an average annual rate of +4.4% over the period from 2019 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 with an increase of 32% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, asbestos, other than crocidolite imports soared to $281M in 2022. In general, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +15.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.3% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Asbestos, Other than Crocidolite in India (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Brazil	13.2	24.8	66.5	109	102.1%
Russia	149	113	111	89.2	-15.7%
Turkey	N/A	N/A	N/A	27.7	0%
Georgia	N/A	N/A	N/A	25.8	0%
Kazakhstan	3.8	4.0	11.9	14.0	54.4%
Hungary	4.6	9.4	9.2	4.9	2.1%
Others	10.4	8.7	7.2	10.7	1.0%
Total	181	160	206	281	15.8%

Top Suppliers of Asbestos, Other than Crocidolite to India in 2022:

Brazil (169.1K tons)
Russia (145.4K tons)
Georgia (34.1K tons)
Turkey (30.7K tons)
Kazakhstan (21.4K tons)
Hungary (9.5K tons)

Exports of Asbestos, Other than Crocidolite in India

In 2022, exports of asbestos, other than crocidolites from India skyrocketed to 2.6K tons, with an increase of 39% against 2021. Overall, exports showed buoyant growth. The growth pace was the most rapid in 2021 with an increase of 222% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, asbestos, other than crocidolite exports soared to $1.4M in 2022. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 275%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.