The import value of Hydrogen, Rare Gases, and Non-Metals to India has been steadily increasing, showing a consistent upward trend from 2024 to 2028. The import value for 2024 is forecasted at 327.69 million USD and is projected to reach 370.76 million USD by 2028. This suggests a continuous growth in demand for these inputs in the upcoming years.
- Year-on-year growth from 2024 to 2025 stands at 3.38%.
- From 2025 to 2026, a growth of 3.22% is forecasted.
- The years 2026 to 2027 are expected to see a growth of 3.05%.
- From 2027 to 2028, the growth forecast is 2.90%.
A notable aspect is the Compound Annual Growth Rate (CAGR) over the five-year period (2024-2028), which averages to approximately 3.14% per year. This steady growth indicates robust underlying demand and possibly the increasing utilization of these materials across different sectors in India.
Future trends to watch for include technological advancements leading to more efficient usage of these gases and non-metals, any regulatory changes impacting import policies, and potential shifts towards domestic production capabilities. Additionally, the global market dynamics for these commodities can also influence their import patterns into India.
