Stats: India’s cumulative PVC imports hit all-time high in 2023
by Elif Sevde Yalçın - eyalcin@chemorbis.com
India’s overall SPVC imports in 2023 upsurged by around 70% from the previous year, standing at over 3 million tons, according to ChemOrbis Stats Wizard data. This volume indicated the highest level ever recorded. Meanwhile, this record in the country’s SPVC imports followed a slow and gradual increase in 2022 and 2021.
In 2023, China remained the top supplier of India, by selling more than twice the total volume of its nearest competitor, with over 1 million tons of SPVC to the country and holding a 35% share in the market. Besides, China also nearly doubled its SPVC imports to India as its total volume was around 534.000 tons in 2022. Japan, once again, ranked the second biggest SPVC supplier of India with a cumulative volume of nearly 483.000 tons and 16% market share. Japan lost 4% market share from the previous year, although sales were up by 38% since its total import volume stood at 350.500 tons in 2022. The countries were respectively followed by Taiwan (14.5%), South Korea (10%), and the US (9%).
Asian suppliers all lost market share in India, while China and US galloped
Among the major five suppliers, China raised its exports to India more than 100% on a yearly basis to increase its market share by 5.5% in 2023 from the previous year. Meanwhile, although South Korea raised its sales to India by 71% on year as the imported SPVC volume from the country to India reached 320.000 tons in 2023 from 187.000 tons, its market share stayed almost the same as the previous year. It was the same story for Taiwan, who experienced a small decline of nearly 3% in India’s market share whereas sales were up by 42%. In 2023, Taiwan’s SPVC exports to India stood at 450.000 tons while it was 317.000 tons in 2022.
The US clearly ramped up its SPVC sales to India by more than three-times to 280,000 tons in 2023 as the country raised its market share from 4% to 9%. As a side note, Thailand was the fifth biggest SPVC importer of India with a total volume of 134.000 tons, and a 7.4% market share in 2022. However, the country dropped back to sixth place after the US last year and its market share declined to 4.1%.
In 2023, China remained the top supplier of India, by selling more than twice the total volume of its nearest competitor, with over 1 million tons of SPVC to the country and holding a 35% share in the market. Besides, China also nearly doubled its SPVC imports to India as its total volume was around 534.000 tons in 2022. Japan, once again, ranked the second biggest SPVC supplier of India with a cumulative volume of nearly 483.000 tons and 16% market share. Japan lost 4% market share from the previous year, although sales were up by 38% since its total import volume stood at 350.500 tons in 2022. The countries were respectively followed by Taiwan (14.5%), South Korea (10%), and the US (9%).
*ChemOrbis Stats Wizard Pro: 2022 is on the left, 2023 on the right. Right click the images and open in a new tab to view the full-sized snapshots.
Asian suppliers all lost market share in India, while China and US galloped
Among the major five suppliers, China raised its exports to India more than 100% on a yearly basis to increase its market share by 5.5% in 2023 from the previous year. Meanwhile, although South Korea raised its sales to India by 71% on year as the imported SPVC volume from the country to India reached 320.000 tons in 2023 from 187.000 tons, its market share stayed almost the same as the previous year. It was the same story for Taiwan, who experienced a small decline of nearly 3% in India’s market share whereas sales were up by 42%. In 2023, Taiwan’s SPVC exports to India stood at 450.000 tons while it was 317.000 tons in 2022.
The US clearly ramped up its SPVC sales to India by more than three-times to 280,000 tons in 2023 as the country raised its market share from 4% to 9%. As a side note, Thailand was the fifth biggest SPVC importer of India with a total volume of 134.000 tons, and a 7.4% market share in 2022. However, the country dropped back to sixth place after the US last year and its market share declined to 4.1%.
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