India Sodium Nitrite Market Shipment Analysis
India Sodium Nitrite Market registered a decline of -12.97% in value shipments in 2022 as compared to 2021 and an increase of 2.34% CAGR in 2022 over a period of 2017. In Sodium Nitrite Market India is becoming less competitive as HHI index in 2022 was 6227 while in 2017 it was 4279. 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 Sodium Nitrite Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Sodium Nitrite Market in 2022 was 0.54 while in 2017 it was 1.15. China, Germany, Russian Federation, Belgium and Netherlands were among the top players of the market in 2022, where China acquired the largest market share of 78.1% with a shipment value of 7.61 million USD in 2022 China also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Sodium Nitrite Market. In 2017 China had the largest market share of 57.95% with the shipment value of 5.64 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although China offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Sodium Nitrite Market in 2017.
