India: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in India

The Indian market for processed petroleum oils and distillates declined to $X in 2022, reducing by X% against the previous year. Overall, consumption recorded a perceptible contraction. Processed petroleum oils and distillates consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Processed Petroleum Oils and Distillates in India

In value terms, processed petroleum oils and distillates production dropped to $X in 2022 estimated in export price. In general, production showed a perceptible setback. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Processed petroleum oils and distillates production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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Exports of Processed Petroleum Oils and Distillates

Exports from India

In 2022, the amount of processed petroleum oils and distillates exported from India expanded notably to X tons, increasing by X% compared with 2021. In general, total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, processed petroleum oils and distillates exports skyrocketed to $X in 2022. Overall, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

The Netherlands (X tons), Singapore (X tons) and the United States (X tons) were the main destinations of processed petroleum oils and distillates exports from India, with a combined X% share of total exports. Australia, Togo, Brazil, Israel, Indonesia, Turkey, South Korea, South Africa, the United Arab Emirates and China lagged somewhat behind, together accounting for a further X%.

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

In value terms, the Netherlands ($X), the United States ($X) and Singapore ($X) were the largest markets for processed petroleum oils and distillates exported from India worldwide, with a combined X% share of total exports. Togo, Israel, Brazil, Australia, Indonesia, South Africa, Turkey, the United Arab Emirates, South Korea and China lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Togo, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for processed petroleum oils and distillates stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price recorded a slight expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Israel ($X per ton) and South Africa ($X per ton), while the average price for exports to South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

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

Imports of Processed Petroleum Oils and Distillates

Imports into India

Processed petroleum oils and distillates imports into India soared to X tons in 2022, growing by X% on the year before. Overall, imports posted a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. Over the period under review, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

South Korea (X tons), Singapore (X tons) and the United Arab Emirates (X tons) were the main suppliers of processed petroleum oils and distillates imports to India, together comprising X% of total imports. Qatar, the United States, Malaysia, Greece, Taiwan (Chinese), Spain, Oman and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest processed petroleum oils and distillates suppliers to India were South Korea ($X), Singapore ($X) and the United Arab Emirates ($X), together accounting for X% of total imports. Malaysia, Qatar, the United States, Taiwan (Chinese), Spain, Greece, Oman and China lagged somewhat behind, together comprising a further X%.

Greece, with a CAGR of X%, saw the highest growth rate of 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 import price for processed petroleum oils and distillates stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, 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 Oman ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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