Updated Nov 22, 2022 16:18

Market for Refractory Products of Siliceous or Diatomite Earths in India

Market Overview
In , after two years of decline, there was significant growth in the Indian market for refractory products of siliceous or diatomite earths, when its value increased by % to $. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $. From 2019 to , the growth of the market failed to regain momentum.

In value terms, production of refractory products of siliceous or diatomite earths totaled $ in estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 with an increase of %. Production of peaked at $ in 2018; however, from 2019 to , production stood at a somewhat lower figure.


Consumption
In , consumption of refractory products of siliceous or diatomite earths increased by % to tons, rising for the second year in a row after two years of decline. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak volume of tons. From 2019 to , the growth of the consumption of remained at a somewhat lower figure.

The revenue of the market for refractory products of siliceous or diatomite earths in India reduced modestly to $ in , leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $. From 2019 to , the growth of the market remained at a lower figure.


Market Forecast
Driven by increasing demand for refractory products of siliceous or diatomite earths in India, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, the share of imports in terms of total refractory products of siliceous or diatomite earths consumption in India was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the India refractory products of siliceous or diatomite earths market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
India remains a net exporter of refractory products of siliceous or diatomite earths; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.