Indian polypropylene exports increase due to booming Chinese demand
IndexBox has just released a new report: “India – Polypropylene in Primary Forms – Market Analysis, Forecast, Size, Trends and Information”. Here is a summary of the main findings of the report.
India’s primary polypropylene exports increased from 518,000 tonnes in 2019 to 794,000 tonnes in 2020 due to strong supplies from China, Turkey and Viet Nam. In terms of value, exports reached $ 673 million, up + 22.5% year-on-year in 2020. China remains the largest importer, accounting for 44% of India’s total polypropylene exports. Turkey and Viet Nam followed China far behind. Last year, China increased its purchases from 130,000 tonnes in 2019 to 352,000 tonnes in 2020, while Turkey grew by 12%. Viet Nam has also significantly increased its imports from India. In 2020, the average export price of primary polypropylene from India was $ 847 per tonne, down -20.1% year-on-year.
India Polypropylene Exports by Country
Indian polypropylene exports increased from 518,000 tonnes in 2019 to 794,000 tonnes in 2020. In terms of value, exports of polypropylene in primary forms climbed to $ 673 million (IndexBox estimates), increasing by +22.5 % year-on-year in 2020.
China (352,000 tonnes) was the main destination for exports of polypropylene in primary forms from India, with a 44% share of total exports. In addition, exports of polypropylene in primary forms to China exceeded the volume sent to the second largest destination, Turkey (102,000 tonnes), by three times. The third position in this ranking was occupied by Viet Nam (61,000 tonnes), with a share of 7.7%.
China increased its imports from 130,000 tonnes in 2019 to 352,000 tonnes in 2020. Turkish purchases increased from 90,000 tonnes to 102,000 tonnes during the same period. Exports to Viet Nam increased from 37,000 tonnes in 2019 to 61,000 tonnes in 2020.
In terms of value, China ($ 279 million) remains the main foreign market for exports of polypropylene in primary forms from India, accounting for 41% of total exports. The second place in the ranking was occupied by Turkey (90 million dollars), with a share of 13% of total exports. It was followed by Viet Nam with a 7.8% share.
In 2020, the average export price for polypropylene in primary forms was $ 847 per tonne, down -20.1% from the previous year. Average prices varied significantly for the main foreign markets. In 2020, the countries with the highest prices were Nepal ($ 935 per tonne) and Italy ($ 909 per tonne), while the average price of exports to China ($ 791 per tonne) and Portugal ($ 860 per tonne) were among the lowest. In 2020, the most notable price growth rate was recorded for supplies to Bangladesh, while prices for other major destinations saw a decline.
Source: IndexBox platform