In 2023, India's import of acyclic hydrocarbons was valued at $1.3 billion. The forecasts for the subsequent years from 2024 to 2028 illustrate a consistent upward trend. Specifically, imports are projected to rise from $1.3597 billion in 2024 to $1.6302 billion in 2028.
Key year-on-year variations are as follows:
- 2024 to 2025: +5.11%
- 2025 to 2026: +4.78%
- 2026 to 2027: +4.47%
- 2027 to 2028: +4.20%
The compound annual growth rate (CAGR) over the five-year period (2023-2028) is estimated to be approximately 4.73%. This indicates a steady increase in demand for acyclic hydrocarbons in India.
Future trends to watch for include changes in global oil prices, India's domestic production capacity, and evolving environmental regulations. These factors could significantly influence both the volume and value of imports moving forward.
