India: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in India

The Indian plastics in primary forms market rose notably to $X in 2023, surging by X% against the previous year. Over the period under review, the total consumption indicated a resilient 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, consumption increased by X% against 2012 indices. Plastics in primary forms consumption peaked in 2023 and is expected to retain growth in years to come.

Production of Plastics in Primary Forms in India

In value terms, plastics in primary forms production rose to $X in 2023 estimated in export price. In general, the total production indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Plastics in Primary Forms

Exports from India

In 2023, shipments abroad of plastics in primary formses increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. In general, exports, however, saw a slight decline. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2023, the growth of the exports failed to regain momentum.

In value terms, plastics in primary forms exports fell to $X in 2023. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

China (X tons), Nepal (X tons) and Bangladesh (X tons) were the main destinations of plastics in primary forms exports from India, together comprising X% of total exports.

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

In value terms, China ($X), the United States ($X) and Bangladesh ($X) appeared to be the largest markets for plastics in primary forms exported from India worldwide, together comprising X% of total exports. Nepal, Turkey, the United Arab Emirates, Vietnam, Italy, Egypt, Indonesia, Nigeria, Kenya and Israel lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Nepal, with a CAGR of X%, recorded the highest growth rate of 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 plastics in primary forms export price stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2022, and then declined in the following year.

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

Imports of Plastics in Primary Forms

Imports into India

In 2023, plastics in primary forms imports into India surged to X tons, jumping by X% on the previous year's figure. Over the period under review, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastics in primary forms imports rose modestly to $X in 2023. In general, imports posted a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in the near future.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) were the main suppliers of plastics in primary forms imports to India, together accounting for X% of total imports. South Korea, Japan, Thailand, Taiwan (Chinese), Singapore, the United States, Oman, Qatar and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, 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 plastics in primary forms suppliers to India were China ($X), South Korea ($X) and the United Arab Emirates ($X), with a combined X% share of total imports. Saudi Arabia, Thailand, Japan, Singapore, the United States, Taiwan (Chinese), Oman, Qatar and Malaysia lagged somewhat behind, together accounting for a further X%.

Oman, with a CAGR of X%, saw 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

In 2023, the average plastics in primary forms import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price saw a mild descent. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2022, and then dropped remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform