Southern Asia: Hydrogen Chloride Market 2023

Hydrogen Chloride Market Size in Southern Asia

The South Asian hydrogen chloride market was estimated at $X in 2021, approximately equating the previous year. In general, consumption, however, recorded a mild setback. The growth pace was the most rapid in 2018 with an increase of 4%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Hydrogen Chloride Production in Southern Asia

In value terms, hydrogen chloride production totaled $X in 2021 estimated in export price. In general, production, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by 3.8% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Hydrogen Chloride Exports

Exports in Southern Asia

In 2021, the amount of hydrogen chloride (hydrochloric acid) exported in Southern Asia soared to X tons, picking up by 27% on the year before. Total exports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -23.5% against 2019 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 45% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, hydrogen chloride exports surged to $X in 2021. The total export value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

India was the key exporter of hydrogen chloride (hydrochloric acid) in Southern Asia, with the volume of exports accounting for X tons, which was approx. 86% of total exports in 2021. It was distantly followed by Pakistan (X tons), committing a 14% share of total exports.

India was also the fastest-growing in terms of the hydrogen chloride (hydrochloric acid) exports, with a CAGR of +7.6% from 2012 to 2021. Pakistan (-4.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India increased by +19 percentage points.

In value terms, India ($X) remains the largest hydrogen chloride supplier in Southern Asia, comprising 79% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value in India totaled +3.2%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, growing by 24% against the previous year. Overall, the export price, however, showed a noticeable shrinkage. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while India amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+2.0%).

Hydrogen Chloride Imports

Imports in Southern Asia

For the sixth year in a row, Southern Asia recorded growth in overseas purchases of hydrogen chloride (hydrochloric acid), which increased by 16% to X tons in 2021. Over the period under review, imports recorded a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 245%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, hydrogen chloride imports fell to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +130.7% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 37%. Over the period under review, imports reached the peak figure at $X in 2020, and then shrank in the following year.

Imports by Country

Nepal dominates imports structure, accounting for X tons, which was approx. 93% of total imports in 2021. Sri Lanka (X tons) and Afghanistan (X tons) followed a long way behind the leaders.

Nepal was also the fastest-growing in terms of the hydrogen chloride (hydrochloric acid) imports, with a CAGR of +30.0% from 2012 to 2021. At the same time, Afghanistan (+16.9%) and Sri Lanka (+13.2%) displayed positive paces of growth. While the share of Nepal (+21 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Afghanistan (-1.9 p.p.) and Sri Lanka (-4.3 p.p.) displayed negative dynamics.

In value terms, Nepal ($X), Sri Lanka ($X) and Afghanistan ($X) constituted the countries with the highest levels of imports in 2021, together comprising 52% of total imports.

Nepal, with a CAGR of +28.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, shrinking by -20.4% against the previous year. Overall, the import price faced a deep reduction. The pace of growth appeared the most rapid in 2015 when the import price increased by 23%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Afghanistan (+9.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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