India: Market for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike 2024

Market Size for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in India

In 2023, after two years of growth, there was significant decline in the Indian gum or wood oils market, when its value decreased by X% to $X. Overall, consumption saw a significant expansion. Over the period under review, the market reached the maximum level at $X in 2022, and then dropped remarkably in the following year.

Exports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Exports from India

After two years of decline, shipments abroad of gum, wood or sulphate turpentine oils, pine oil and other alike increased by X% to X tons in 2023. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. The exports peaked at X tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, gum or wood oils exports declined to $X in 2023. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), China (X tons) and the UK (X tons) were the main destinations of gum or wood oils exports from India, with a combined X% share of total exports. Germany, Indonesia, South Africa, Nigeria, Oman, Nepal, Egypt, Kuwait, Mexico and Israel lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), China ($X) and the UK ($X) were the largest markets for gum or wood oils exported from India worldwide, together comprising X% of total exports. Indonesia, South Africa, Nigeria, Germany, Oman, Kuwait, Egypt, Israel, Mexico and Nepal lagged somewhat behind, together accounting for a further X%.

Mexico, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average gum or wood oils export price stood at $X per ton in 2023, waning by X% against the previous year. Overall, the export price, however, posted a prominent increase. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Nepal ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Imports into India

For the third consecutive year, India recorded growth in supplies from abroad of gum, wood or sulphate turpentine oils, pine oil and other alike, which increased by X% to X tons in 2023. In general, imports showed a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Imports peaked in 2023 and are likely to see gradual growth in the immediate term.

In value terms, gum or wood oils imports shrank sharply to $X in 2023. Over the period under review, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then shrank significantly in the following year.

Imports by Country

Indonesia (X tons), Vietnam (X tons) and Brazil (X tons) were the main suppliers of gum or wood oils imports to India, with a combined X% share of total imports. Finland, the United States, Argentina, Belgium, Sweden, Nepal, Poland, Portugal, Russia and Turkey lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Russia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest gum or wood oils suppliers to India were Indonesia ($X), Brazil ($X) and Vietnam ($X), together accounting for X% of total imports. The United States, Finland, Argentina, Portugal, Belgium, Sweden, Poland, Turkey, Nepal and Russia lagged somewhat behind, together accounting for a further X%.

Portugal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 gum or wood oils import price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price, however, recorded mild growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform