Southern Asia: Sulphuric Acid Market 2023

Sulphuric Acid Market Size in Southern Asia

After four years of growth, the South Asian sulphuric acid market decreased by -1.4% to $X in 2021. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +131.1% against 2012 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then reduced modestly in the following year.

Sulphuric Acid Production in Southern Asia

In value terms, sulphuric acid production dropped to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +10.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +135.6% against 2012 indices. The growth pace was the most rapid in 2013 with an increase of 61%. The level of production peaked at $X in 2020, and then contracted in the following year.

Sulphuric Acid Exports

Exports in Southern Asia

After three years of decline, overseas shipments of sulphuric acid and oleum increased by 608% to X tons in 2021. Overall, exports recorded buoyant growth. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, sulphuric acid exports skyrocketed to $X in 2021. Over the period under review, exports showed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) represented roughly 100% of total exports in 2021.

India was also the fastest-growing in terms of the sulphuric acid and oleum exports, with a CAGR of +7.5% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest sulphuric acid supplier in Southern Asia.

In India, sulphuric acid exports expanded at an average annual rate of +16.2% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, picking up by 23% against the previous year. Overall, the export price showed buoyant growth. The pace of growth was the most pronounced in 2013 when the export price increased by 124% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +8.2% per year.

Sulphuric Acid Imports

Imports in Southern Asia

Sulphuric acid imports soared to X tons in 2021, jumping by 140% on the previous year's figure. In general, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 233% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, sulphuric acid imports skyrocketed to $X in 2021. Overall, imports recorded prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the one major importers of sulphuric acid and oleum, namely India, represented more than two-thirds of total import.

India was also the fastest-growing in terms of the sulphuric acid and oleum imports, with a CAGR of +12.3% from 2012 to 2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported sulphuric acid and oleum in Southern Asia.

In India, sulphuric acid imports expanded at an average annual rate of +8.4% over the period from 2012-2021.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, picking up by 31% against the previous year. Overall, the import price, however, continues to indicate a perceptible descent. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -3.6% per year.

Source: IndexBox Market Intelligence Platform

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