India: Cement Market 2024

Cement Market Size in India

The Indian cement market reached $X in 2023, almost unchanged from the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2023 and is expected to retain growth in the near future.

Cement Production in India

In value terms, cement production amounted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. Cement production peaked at $X in 2021; afterwards, it flattened through to 2023.

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Cement Exports

Exports from India

In 2023, the amount of cement exported from India fell to X tons, shrinking by X% compared with 2022. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports failed to regain momentum.

In value terms, cement exports dropped to $X in 2023. In general, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Sri Lanka (X tons) was the main destination for cement exports from India, accounting for a X% share of total exports. Moreover, cement exports to Sri Lanka exceeded the volume sent to the second major destination, Maldives (X tons), sevenfold. The third position in this ranking was held by Nepal (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sri Lanka totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (X% per year) and Nepal (X% per year).

In value terms, Sri Lanka ($X) remains the key foreign market for cement exports from India, comprising X% of total exports. The second position in the ranking was taken by Maldives ($X), with a X% share of total exports. It was followed by Nepal, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sri Lanka stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (X% per year) and Nepal (X% per year).

Export Prices by Country

In 2022, the average cement export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price, however, saw a mild descent. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nepal ($X per ton), while the average price for exports to Sri Lanka ($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 Nepal (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cement Imports

Imports into India

Cement imports into India surged to X tons in 2023, increasing by X% against the previous year. Over the period under review, imports recorded a noticeable increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, cement imports skyrocketed to $X in 2023. Overall, total imports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), Bhutan (X tons) and Bangladesh (X tons) were the main suppliers of cement imports to India, together accounting for X% of total imports. Oman and Pakistan 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 Oman (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cement suppliers to India were the United Arab Emirates ($X), Bangladesh ($X) and Bhutan ($X), with a combined X% share of total imports. Oman and Pakistan lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Oman, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cement import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform