India: Ethylene Market 2024

Ethylene Market Size in India

In 2021, the Indian ethylene market increased by 0.1% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Ethylene Production in India

In value terms, ethylene production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 47% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

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Ethylene Exports

Exports from India

In 2021, overseas shipments of ethylene were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 17,482,108% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, ethylene exports skyrocketed to $X in 2021. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 3,746,918%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Qatar (X tons) was the main destination for ethylene exports from India, accounting for a 62% share of total exports. Moreover, ethylene exports to Qatar exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. China (X tons) ranked third in terms of total exports with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar totaled +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+32.0% per year) and China (-32.2% per year).

In value terms, Qatar ($X) emerged as the key foreign market for ethylene exports from India, comprising 63% of total exports. The second position in the ranking was held by Indonesia ($X), with a 23% share of total exports. It was followed by China, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to Qatar totaled +22.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+28.5% per year) and China (-37.8% per year).

Export Prices by Country

The average ethylene export price stood at $X per ton in 2021, increasing by 13% against the previous year. In general, the export price, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2016 when the average export price increased by 326% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Taiwan (Chinese) ($X per ton) and Indonesia ($X per ton), while the average price for exports to China ($X per ton) and Qatar ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (-1.2%), while the prices for the other major destinations experienced a decline.

Ethylene Imports

Imports into India

In 2021, after two years of decline, there was significant growth in purchases abroad of ethylene, when their volume increased by 61% to X tons. Over the period under review, imports posted a prominent increase. The growth pace was the most rapid in 2016 when imports increased by 372%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, ethylene imports surged to $X in 2021. In general, imports enjoyed a resilient increase. The growth pace was the most rapid in 2016 with an increase of 355% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), Saudi Arabia (X tons) and Thailand (X tons) were the main suppliers of ethylene imports to India, with a combined 81% share of total imports. These countries were followed by Singapore and Italy, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +185.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ethylene suppliers to India were Malaysia ($X), Saudi Arabia ($X) and Italy ($X), with a combined 75% share of total imports. Thailand and Singapore lagged somewhat behind, together accounting for a further 24%.

Singapore, with a CAGR of +148.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ethylene import price stood at $X per ton in 2021, with an increase of 25% against the previous year. Overall, the import price, however, recorded a noticeable descent. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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