India Metalworking Fluids Market Shipment Analysis
India Metalworking Fluids Market registered a growth of 52.05% in value shipments in 2022 as compared to 2021 and an increase of 16.7% CAGR in 2022 over a period of 2017. In Metalworking Fluids Market India is becoming less competitive as HHI index in 2022 was 1511 while in 2017 it was 1270. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Metalworking Fluids Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Metalworking Fluids Market in 2022 was 0.19 while in 2017 it was 0.14. Russian Federation, Iraq, Saudi Arabia, United Arab Emirates and Rep. of Korea were among the top players of the market in 2022, where Russian Federation acquired the largest market share of 32.49% with a shipment value of 3966.1 million USD in 2022 Russian Federation also offered the product below the average market price thus having a competitive advantage over others In 2017 United Arab Emirates had the largest market share of 25.17% with the shipment value of 799.84 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As United Arab Emiratesprice is lower than the average price, it provided a significant edge among other competitor in 2017.
