India: Alkyd Resins Market 2024

Alkyd Resins Market Size in India

The Indian alkyd resins market dropped modestly to $X in 2022, flattening at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 when the market value increased by X%. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Alkyd Resins Production in India

In value terms, alkyd resins production declined modestly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

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Alkyd Resins Exports

Exports from India

In 2022, the amount of alkyd resins in primary forms exported from India reduced remarkably to X tons, shrinking by X% on the year before. Over the period under review, exports recorded a deep slump. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, alkyd resins exports fell modestly to $X in 2022. Overall, exports faced a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nepal (X tons) was the main destination for alkyd resins exports from India, accounting for a X% share of total exports. Moreover, alkyd resins exports to Nepal exceeded the volume sent to the second major destination, Bangladesh (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nepal amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and the United Arab Emirates (X% per year).

In value terms, Nepal ($X) remains the key foreign market for alkyd resins in primary forms exports from India, comprising X% of total exports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Nepal amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The average alkyd resins export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into India

In 2022, imports of alkyd resins in primary forms into India expanded significantly to X tons, growing by X% on 2021. Overall, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, alkyd resins imports declined slightly to $X in 2022. In general, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then contracted modestly in the following year.

Imports by Country

The United Arab Emirates (X tons), Italy (X tons) and Belgium (X tons) were the main suppliers of alkyd resins imports to India, together accounting for X% of total imports. Taiwan (Chinese), South Korea, the United States and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of alkyd resins in primary forms to India, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Belgium (X% per year).

Import Prices by Country

The average alkyd resins import price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the import price recorded a slight downturn. The growth pace was the most rapid in 2020 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform