#largest exporter of pharmaceuticals

[entailglobal]

The Role of Agrochemicals in Global Agriculture:  Opportunities for Exporters

Agriculture is the backbone of the global economy, feeding billions of people worldwide.  As the world’s population continues to grow, there is an ever-increasing demand for higher food production.  Agrochemicals, which include fertilizers, pesticides, herbicides, and fungicides, play a pivotal role in meeting this demand by improving crop yields and ensuring food security.  This has opened up significant opportunities for exporters, especially those in India, a country that has emerged as a key player in the agrochemical industry.

In this blog, we’ll explore the role of agrochemicals in global agriculture and discuss the promising opportunities for exporters.  We’ll also highlight the importance of global imports and exports in the agrochemical market and examine how companies can capitalize on this thriving sector.

The Importance of Agrochemicals in Modern Agriculture

The global agricultural industry is facing immense challenges, including climate change, soil degradation, and water scarcity.  These issues threaten the ability of farmers to produce enough food to meet the world’s growing needs.  Agrochemicals are essential in mitigating these challenges.

Fertilizers enhance soil fertility by replenishing essential nutrients, thus ensuring healthy and robust crop growth.

Pesticides protect crops from pests, insects, and diseases that could significantly reduce yields.

Herbicides control the growth of unwanted weeds that compete with crops for water and nutrients.

Fungicides help prevent fungal diseases that can decimate crops.

By increasing productivity, agrochemicals have become indispensable in modern agriculture.  Their role in improving crop efficiency and food security cannot be overstated.

Global Demand for Agrochemicals

The demand for agrochemicals is driven by the growing global population, estimated to reach nearly 10 billion by 2050.  This means the world will need to produce 70% more food than it currently does.  As more countries look to expand their agricultural output, the demand for agrochemicals continues to rise.

Countries with large agricultural sectors, such as the United States, Brazil, and China, are the largest consumers of agrochemicals.  However, developing countries are also experiencing increased demand as they strive to modernize their farming practices and increase productivity.

This growing demand presents a golden opportunity for companies involved in global imports and exports of agrochemicals.  Exporting these chemicals to countries with emerging agricultural markets is one of the key strategies for sustaining growth in the agrochemical industry.

India:  A Leading Player in the Agrochemical Export Market

India has emerged as a major player in the global agrochemical market.  With its robust agricultural sector and a growing manufacturing base, the country is home to some of the top 10 exporters in India in the agrochemicals industry.  Indian agrochemical companies have built a strong reputation for producing high-quality and cost-effective products that meet international standards.

There are several reasons why India has become a leader in agrochemical exports:

Cost-effective production:  India’s relatively low manufacturing costs make its agrochemical products highly competitive in the global market.

Large production capacity: India has a well-established chemical industry, and its agrochemical companies benefit from large-scale production, enabling them to meet the growing global demand.

Strong research and development (R&D):  Indian agrochemical companies invest heavily in R&D to develop innovative products and meet the specific needs of international markets.

Strategic location:  India’s geographic position offers easy access to important markets in Asia, Africa, and the Middle East.

As a result, Indian companies are well-positioned to capitalize on the growing global demand for agrochemicals.  The best export companies in India are expanding their reach into new international markets, helping farmers around the world enhance their productivity.

Global Imports and Exports in the Agrochemical Market

The agrochemical industry is characterized by a complex web of global imports and exports.  Developing countries with growing agricultural sectors rely heavily on imports of agrochemicals to boost their production.  This makes international trade in agrochemicals a crucial component of the industry.

Exporters, particularly those from India, are benefitting from this dynamic.  Indian agrochemical companies export a wide range of products, including insecticides, herbicides, fungicides, and fertilizers, to more than 100 countries.  Major export destinations include the United States, Brazil, Australia, China, and African nations.

Exporters must also navigate a range of challenges, including regulatory compliance, quality standards, and competition from other countries.  By focusing on quality, innovation, and competitive pricing, Indian companies have established themselves among the top 10 exporters of the agrochemicals industry, securing their place in the global market.

Opportunities for Agrochemical Exporters

The increasing global demand for agrochemicals creates numerous opportunities for exporters.  Here are some key areas where companies can capitalize:

1.    Expanding to Emerging Markets

Developing countries with growing agricultural sectors represent significant opportunities for agrochemical exporters.  Countries in Africa, Latin America, and Southeast Asia are modernizing their farming practices and adopting advanced agrochemical solutions to improve their yields.  Exporters can tap into these emerging markets by providing affordable, effective agrochemical products tailored to local needs.

2.    Sustainable Agrochemicals

There is growing global awareness of the need for more sustainable agricultural practices.  Exporters can take advantage of this trend by offering environmentally friendly agrochemical solutions that minimize the impact on soil, water, and ecosystems.  Sustainable agrochemicals, such as bio-based pesticides and organic fertilizers, are gaining traction in both developed and developing countries.

3.    Focus on Innovation

Innovation is crucial to staying competitive in the agrochemical industry.  Exporters can invest in R&D to develop new formulations that are more effective, longer-lasting, and safer for the environment.  Offering customized solutions that address specific crop needs or climate conditions can help exporters differentiate themselves in the global market.

4.    Building Strong Partnerships

Establishing partnerships with local distributors and retailers is key to entering new markets.  Exporters can work closely with distributors in target countries to ensure that their products are accessible to farmers and comply with local regulations.  For instance, Indian exporters have successfully partnered with distributors in Africa and Latin America, helping them establish a strong foothold in these regions.

5.    Leveraging Government Support

Exporters can benefit from various government schemes and incentives aimed at promoting international trade.  In India, government initiatives such as the “Make in India” campaign and export subsidies for agrochemical companies have contributed to the industry’s growth.  By leveraging these opportunities, exporters can scale their operations and increase their presence in global markets.

Conclusion:  Agrochemicals and Export Growth

Agrochemicals are vital to feeding the world’s growing population, ensuring that farmers can maximize their yields and meet increasing demand.  As global agriculture continues to modernize and expand, the need for high-quality agrochemicals will only intensify.

For Indian companies, the agrochemical industry presents a golden opportunity to capitalize on their strengths in production, innovation, and cost-effectiveness.  Indian exporters have already made a mark as some of the top 10 exporters in the agrochemicals industry, and there is immense potential to grow further by entering new markets and investing in sustainable practices.

As one of the best export companies, focusing on quality, innovation, and partnerships will allow Indian agrochemical exporters to continue driving growth and contributing to global agricultural success.

[klimanaturali]

Os Maiores Exportadores de PRODUTOS FARMACÊUTICOS do Mundo

[justinspoliticalcorner]

Lori Ann Larocco at CNBC:

Billions in trade came to a screeching halt at U.S. East Coast and Gulf Coast ports after members of the International Longshoremen’s Association (ILA) began walking off the job after 12:01 a.m. ET on October 1. The ILA is North America’s largest longshoremen’s union, with roughly 50,000 of its 85,000 members making good on the threat to strike at 14 major ports subject to a just-expired master contract with the United States Maritime Alliance (USMX), and picketing workers beginning to appear at ports. The union and port ownership group failed to reach agreement by midnight on a new contract in a protracted battle over wage increases and use of automation. In a last-ditch effort on Monday to avert a strike that will cause significant harm to the U.S. economy if it is lengthy — at least hundreds of millions of dollars a day at the largest ports like New York/New Jersey — the USMX offered a nearly 50% wage hike over six years, but that was rejected by the ILA, according to a source close to the negotiations. The port ownership group said it hoped the offer would lead to a resumption of collective bargaining.

The 14 ports where preparations for a strike have been underway are Boston, New York/New Jersey, Philadelphia, Wilmington, North Carolina, Baltimore, Norfolk, Charleston, Savannah, Jacksonville, Tampa, Miami, New Orleans, Mobile, and Houston. New York Governor Kathy Hochul said in a statement issued shortly after midnight that “the first large-scale eastern dockworker strike in 47 years began at ports from Maine to Texas, including at the Port Authority of New York and New Jersey. In preparation for this moment, New York has been working around the clock to ensure that our grocery stores and medical facilities have the essential products they need.” Rhetoric from ILA leadership has been aggressive in the weeks leading up to the strike, with ILA president Harold Daggett, who was a union member the last time it went out on strike in 1977, telling rank-and-file members — who unanimously voted to authorize a strike — in a recent video message, “We’ll crush them.” 

[...] The most significant issues would be faced by food and automobile industries, Kamins said, as they rely especially heavily on the ports that will be shut down. While a surge in inflation is highly unlikely even with a longer strike, even a modest reacceleration could create uncertainty and force the Federal Reserve to be more cautious about lowering interest rates, which would weigh on the overall outlook for job growth and investment. A one-week strike could cost the U.S. economy $3.78 billion, according to an analysis by The Conference Board, and cause supply chain slowdowns through mid-November. In all, the ports threatened with strikes handle $3 trillion annually in U.S. annual international trade.

Many industries are preparing for major repercussions. Noushin Shamsili, CEO and president of Nuco Logistics, which specializes in pharmaceutical imports and exports, said the strike comes at a critical time for inventory replenishment for the pharma sector. “Almost all of this industry is just on time,” said Shamsili. “Raw materials are being brought in to complete drug manufacturing. Medical supplies for clinics and hospitals are on these vessels. For a while importers did not bring in a lot of cargo because they were overflowing with supplies post-Covid. Now they have started reordering medical devices, gloves, syringes, and tubing.” Shamsili also said the East Coast ports are a gateway for generic medicine made in India. Approximately 48% of the active pharmaceutical ingredients used in the U.S. are being imported from India. Without these APIs, medications cannot be produced. APIs are also manufactured in Europe, which also use the East Coast ports as U.S. points of entry.

[...] The Biden administration finds itself in a delicate political moment, with the presidential election one month away and President Biden vowing he will not use existing labor law to force union workers back on the job, which is within his powers under the Taft-Hartley Act. The Taft-Hartley Act, passed in 1947, was a revision of U.S. law governing labor relations and union activity that granted a U.S. president the power to suspend a strike for an 80-day “cooling off period” in cases where “national health or safety” are at risk. 

Today begins the strike along East Coast and Gulf Coast ports after International Longshoremen’s Association (ILA) members walked off their jobs.

This strike, depending on how long it lasts, could have a major impact on the elections and the economy.

[afrotumble]

Lesotho's 🇱🇸 Marijuana Exportation to hit US$3.67m this year.

Kingdom of Lesotho exported estimated 8.5 tones of medicinal marijuana to North Macedonia.

It is the world's largest single legal cannabis export so far.

Lesotho export in Marijuana is expected to see significant growth in its cannabis market. this 2024, revenue in the cannabis market is projected to reach US$3.67m. This is expected to increase at an annual growth rate of 1.48%, resulting in a market volume of US$3.95m by 2029.

It exports Non psychoactive cannabidiol (CBD) oil extracts and other medical cannabis products primarily to South Africa and is working on entering markets in Europe and the Middle East, as well as Australia.

It's the country most significant cash-crop. In the 2000s it was estimated that 70% of the cannabis in South Africa originated in Lesotho.

Lesotho made history by becoming the first certified African country to supply the European Union with cannabis for pharmaceutical use.

In 2017 Lesotho became the first African country to allow the cultivation of cannabis for medicinal purposes. Then Deputy health minister Manthabiseng Phohleli told AFP that the legalization of cannabis presented “a huge opportunity for the country”, which boasts 300 days of sunshine per year

-- African Hub

[anarkissm]

CYBERPUNK 2077.

according to canon: canada was one of the countries least affected by the collapse. vast resources and a small population made life easier. the slow rise in global temperature made the region an agricultural paradise.  a nice place to live, if the corpos let you.   being such a stable area , most of the major corporations set up large operations across the country. open corporate military force kept the american nomad population from streaming over the border. many of the smaller nomad families did find their way into canada, but only with the full cooperation of the corporations in question. many of the small families were hired and trained wholesale. CHOOH2 production is now one of canada's largest agro-exports. the new luxury market in hardwoods is its largest growing industry. but the true scope of the canadian economy encompasses all of the major corporations, products and services of the world. the national government is all but gone, replaced by corporations.

claudette morel grew up in a poor, diverse neighborhood in montreal to loving, working class parents who encouraged her interests in sciences. her maternal family were climate refugees, nomads of the thelas nation from south america who managed to enter canada’s borders after the collapse. claudette’s single-minded pursuit in organic chemistry accelerated her academic career and allowed her to have amazing job opportunities in the pharmaceutical industry. inevitably, she was hired as an intern by  biotechnica in night city, california. progressing quickly in her field of expertise, claudette was promoted to field specialist. sponsors provided resources and seed capital to support her research on the coastal edges of the badlands, far away from the city. living out of a secure prefabricated lab-unit on a foggy, isolated beach in coronado, she studies the potential for seaweed and aquatic algae as a cheap, bountiful food source that would be able to grow one billion tons of resources in just 6 months; including dry food, biofuel, bio-plastics, carbon-capture, and fertilizer. undersea agriculture can potentially be commercialized to provide a cheap alternative food source to the insects raised in protein farms, and aid with marine restoration to rebuild the local fish population.

claudette spent eighteen months living on the southern california coast, intermittently returning to night city to give mandated in-person reports on her progress for the company’s head scientists. in the badlands, she has had to learn to be resilient and vigilant, defending her research from nomad raiders hoping to steal valuable technology from corpos... or worse, death squads paid by megacorporation petrochem’s subsidiaries to eliminate competition in the energy industry. the lab is built to survive bombings and artillery fire, protected by deadly quadruped robots that patrol its perimeters. several of her cousins are members of the thelas nation, who protect the borders of the americas’ west coasts, collaborating with biotechnica’s mercenaries to offer additional security.

[allthebrazilianpolitics]

Lula aims to establish Brazil as pharmaceutical bellwether to South America

At the first South America Summit in nine years, Brazil-led plans of continental reintegration position the region’s largest healthcare market as a springboard for the pharmaceutical industry.

In stark contrast to previous Brazilian President Jair Bolsonaro’s isolationist policies, President Lula da Silva has taken steps to revive the Union of South American Nations, or UNASUR, in a bid to drive pharmaceutical trade and raise disease response standards across the region.

On 30 May, Lula convened the first South America Summit in nearly a decade. All twelve leaders in attendance signed the Brasilia Consensus, pledging cooperation on a variety of agendas including increased investment and market access, and the elimination of unilateral trade measures. The Consensus also stated the aim of “reaching an effective South America Free Trade Area” similar to the EU, within which medical imports and exports will be a key component.

With the world’s largest government-run public healthcare system and the continent’s biggest economy, Brazil is now leading South America’s charge to improve pharmaceutical research and production and reduce the region’s dependence on foreign medical imports from the United States, China and Russia.

The latest developments come after Bolsonaro withdrew Brazil from UNASUR in 2019, denting South American visions of a freely trading continent. But now, Brazil’s status as a hub for the development of pharmaceutical drugs, vaccines and clinical research could be reignited.

Continue reading.

[palvifze]

The Role of Phosphoric Acid in the Food Industry

Phosphoric acid is a colorless, odorless, and tasteless inorganic acid that has been widely used in the food industry for many years. It is a key ingredient in many popular food and beverage products, such as soft drinks, jams, jellies, and processed cheeses. In this blog, we will discuss the role of phosphoric acid in the food industry and highlight some of the top phosphoric acid suppliers, exporters, and distributors in Saudi Arabia.

Firstly, let's look at the role of phosphoric acid in the food industry. Phosphoric acid is primarily used as a food additive to provide tartness or acidity to processed foods and beverages. It is also used as a preservative to prevent spoilage and extend the shelf life of food products. In addition, phosphoric acid is used in the production of phosphate salts, which are used in a wide range of food products, such as baking powder, cheese, and meats.

Another important use of phosphoric acid in the food industry is in the production of soft drinks. It is a key ingredient in many popular carbonated beverages, providing the distinctive tart flavor and acidity that consumers love. Phosphoric acid is also used as a chelating agent, which helps to remove metals from the water used in soft drink production, preventing the formation of unwanted flavors and odors.

Now, let's look at some of the top phosphoric acid suppliers, exporters, and distributors in Saudi Arabia. These companies offer high-quality phosphoric acid products that meet the strictest food safety and quality standards.

SABIC: SABIC is one of the largest chemical producers in the world, and a leading supplier of phosphoric acid in Saudi Arabia. The company's phosphoric acid products are widely used in the food, pharmaceutical, and agriculture industries.

Maaden: Maaden is a mining and minerals company that produces high-quality phosphoric acid products for the food industry. The company's products are exported to customers around the world, including major food and beverage manufacturers.

Arabian Chemical Company: Arabian Chemical Company is a leading distributor of phosphoric acid products in Saudi Arabia. The company offers a wide range of high-quality phosphoric acid products, including food-grade and technical-grade varieties.

In conclusion, phosphoric acid plays a critical role in the food industry, providing tartness, acidity, and preservative properties to a wide range of processed foods and beverages. If you are in need of phosphoric acid products for your food manufacturing operations, be sure to consider the top phosphoric acid suppliers, exporters, and distributors in Saudi Arabia, including SABIC, Maaden, and Arabian Chemical Company.

[unitedventurez]

Trump's Victory Sparks Fears of Global Trade War

Donald Trump’s victory has reignited concerns over the future of global trade, particularly following his campaign pledge to impose tariffs of 10% to 20% on all foreign goods entering the U.S. While in the past, Trump targeted specific nations and industries—like China and steel—his broad approach could lead to widespread price increases worldwide.

Trump has already pointed to Europe as a target, criticizing the European Union for its trade practices and threatening heavy tariffs on European imports. His comments about European carmakers, particularly BMW, Mercedes, and Volkswagen, resulted in a drop in their shares, as the U.S. remains a major export market for German automakers.

The possibility of a trade war is raising alarm. During his campaign, Trump framed tariffs as a solution to several global issues, including trade imbalances with China and illegal immigration. His intention to use tariffs as a "weapon" is clear, and many countries, including the European Union, are bracing for retaliatory measures.

The EU has already imposed tariffs on iconic American products like Harley Davidson motorcycles, bourbon whiskey, and Levi’s jeans in response to U.S. duties on steel and aluminum. European officials are preparing for further responses, especially if Trump uses broad tariffs that could escalate tensions. Some experts warn that a trade war could reduce global GDP by up to 7%, comparable to the combined size of the French and German economies.

The UK, in the aftermath of Brexit, faces difficult choices regarding its stance. Historically moving closer to the EU, it now finds itself at a crossroads in potential transatlantic trade conflicts. While some UK officials advocate for neutrality, it may struggle to avoid the fallout from a U.S.-EU trade dispute, particularly in sectors like pharmaceuticals and automobiles.

The broader concern is how other countries will respond. If the U.S.—the world's largest economy—embraces protectionism, it could encourage smaller economies to follow suit. With global trade dynamics shifting, Trump’s victory presents a real threat of escalating trade wars, raising questions about the future of international economic cooperation.

[biotichealthcare]

Emerging Domestic Drug Manufacturing Market in India - The Indian pharmaceutical industry enjoys a superior position in the global healthcare market. It is the third-largest in terms of volume and the fourteenth largest by value. During 2019-2020, the total annual turnover of the Indian pharmaceutical industry was INR 2,89,998 crores. Its name also shines in pharmaceutical exports. Our country exports medicines to nearly 206 countries, including the United States - the largest export destination.

[eximpedia1]

Why Exporting Dry Ginger from India is Profitable and Find Reliable Buyers

For thousands of years, ginger has been treasured for its aromatic flavor and medicinal properties. This spice, originating in Asia, has been widely used in Arabic, Indian, and Asian herbal traditions. Today, it stands as one of the healthiest spices, packed with essential minerals and bioactive compounds that benefit the body and mind. The global demand for ginger has made India a major player in the market, especially for dry ginger exports.

In 2023, China, the Netherlands, Thailand, India, and Brazil were among the top ginger exporters, while the European Union, United States, Netherlands, Japan, and Pakistan were the biggest importers. Exporting dry ginger from India is a lucrative business opportunity, but the main challenge lies in finding reliable buyers. This guide will cover the reasons for the profitability of dry ginger export from India, important data insights, and strategies for locating dependable buyers.

Why Exporting Dry Ginger from India is Lucrative

India’s role as a prominent ginger producer and exporter, combined with rising global demand, makes dry ginger exports from the country highly profitable. The success of this business, however, depends on a few critical factors:

Growing Global Demand

In 2023, the dried ginger market was valued at $1.5 billion, with projections showing growth to $2.39 billion by 2030. This increasing demand presents a huge opportunity for exporters, especially from India.

India’s Dominance in the Spice Market

India is the world’s leading spice exporter, making it a prime source for high-quality ginger. The profitability of ginger exports aligns well with India’s established reputation and infrastructure in the spice industry.

Production Costs and Export Regulations

The cost of cultivating premium ginger, processing it, and meeting export regulations can impact profitability. However, the dry ginger export business offers substantial potential for those with a well-researched strategy that considers production expenses, regulatory compliance, and market trends.

Thorough analysis of these factors is essential to boost profitability in this sector. Conducting comprehensive research and gathering accurate, current data on dry ginger exports can enhance the likelihood of success.

Leading Ginger-Producing Countries Worldwide

The global ginger market is competitive, with several countries contributing to the production of this sought-after spice. India leads as the top producer, with Nigeria, China, Nepal, Indonesia, and Thailand following closely behind. Among these, India stands out as the largest producer, with an annual production of around 178,000 metric tons. This significant output positions India as a major force in the dry ginger export industry.

Key Ginger-Producing States in India

India’s ginger production is concentrated in a few major states. Madhya Pradesh leads with approximately 692,000 metric tons, accounting for over 31% of national production. Karnataka follows with about 306,000 metric tons, and Assam produces around 170,000 metric tons. These states play a crucial role in meeting both domestic and international demand for ginger, solidifying India’s position in the global market.

Dry Ginger Export Statistics from India

India’s impact on the dry ginger market is significant. As per dry ginger export data, India exported around 10,000 shipments of dry ginger, driven by over 1,065 exporters catering to 2,353 buyers worldwide. India holds the top position in global dry ginger exports, with its primary export destinations including Morocco, the United States, and the UAE. This dominance highlights India’s importance in meeting the rising demand for ginger across various industries, including food, pharmaceuticals, and herbal remedies.

Top Dry Ginger Exporting Countries and Market Shares

When it comes to dry ginger exports, Nigeria and China are India’s closest competitors. Nigeria holds a market share of approximately 22%, followed by China at 21.9%. India ranks third, with about 16.5% of global exports. Other countries like Germany, the Netherlands, Vietnam, and the United States also contribute to the global supply but in smaller quantities. India's strong market position makes it an ideal source for dry ginger, especially for buyers looking for quality and quantity.

Major Export Destinations for Indian Dry Ginger

India’s dry ginger exports reach various countries worldwide, with the top markets being Morocco, the United States, UAE, Saudi Arabia, Spain, Egypt, Germany, France, the United Kingdom, and the Netherlands. These countries rely on India’s ginger exports due to the spice's quality, consistency, and medicinal value. Although India’s dry ginger exports reached over $129 million in 2021, recent years have seen fluctuations in export volumes, emphasizing the importance of a reliable buyer network.

List of Top Dry Ginger Exporters in India

India has numerous dry ginger exporters, each contributing to the industry's growth. Some of the leading exporters include Jai Commercial Centre, 2win Enterprises, Shree Shyam Impex, Aaha Impex Pvt. Ltd, Priya Exports, Anantagriexports, Savaliya Agri Commodity Export Pvt Ltd, Apex International, Surendraray & Co, and Basil Food Export. These companies are among the most reliable in India’s dry ginger export industry, consistently meeting international demand with quality products.

How to Find Reliable Buyers for Dry Ginger Exports

Securing trustworthy buyers is essential for sustained success in the dry ginger export business. Exporters can benefit from data-driven platforms such as Eximpedia.app, which provides extensive insights on global dry ginger export trends, buyer information, and real-time data. Eximpedia offers an extensive database covering over 130 countries, including key markets like Bangladesh, Vietnam, the US, and Turkey.

Using such platforms, dry ginger exporters in India can gain valuable insights into demand patterns, market trends, and competitive pricing, enabling them to make informed business decisions. Eximpedia’s database also provides access to up-to-date export-import data, enabling exporters to identify reliable buyers and understand regulatory requirements for different countries. By conducting thorough research and using tools like Eximpedia, exporters can streamline their buyer acquisition process, enhancing their success in the dry ginger export market.

Final Thoughts

The global demand for dry ginger presents a lucrative opportunity for Indian exporters, given the country's dominance in ginger production. However, entering the export market requires careful planning, reliable data, and a strong buyer network. By leveraging platforms like Eximpedia, conducting market research, and staying informed on industry trends, Indian exporters can thrive in the international ginger market. With a comprehensive strategy, the potential for profit in the dry ginger export business from India is immense, catering to the growing demand worldwide.

[exportimportdata13]

Top 10 Imports from India to Canada in 2023: Key Insights and Economic Impact

Canada and India share a growing trade relationship that has expanded notably in recent years. With Canada’s increasing reliance on imports to meet domestic demands, goods from India have become essential across multiple sectors, including pharmaceuticals, machinery, and consumer goods. In 2023, Canada imported a total of $5.58 billion worth of products from India, reflecting the ongoing trade growth between these two economies. This article delves into the top imports from India to Canada, examines the role of key Canadian importers, and highlights the impact of these imports on Canada’s economy.

1. Pharmaceutical Products

India is one of the largest exporters of affordable, high-quality pharmaceutical products worldwide, and Canada’s reliance on these imports has grown significantly. In 2023-24, Canada imported pharmaceutical goods valued at approximately $425.33 million from India, marking it as the top import category. Canadian healthcare benefits from the competitive pricing and accessibility of Indian medications, which also ensure the availability of a wide range of drugs for the Canadian population. This partnership supports Canada's healthcare industry by providing access to essential and innovative treatments, making Indian pharmaceutical imports a vital aspect of Canada’s healthcare strategy.

2. Machinery, Nuclear Reactors, and Boilers

Canada’s demand for industrial machinery, nuclear reactors, and boilers from India amounted to $283.28 million. This import category includes machinery used in manufacturing, construction, and energy sectors, providing Canada with technologically advanced and cost-effective alternatives. These imports are crucial for supporting various industries in Canada, particularly as the country looks to modernize its infrastructure and industrial capabilities. Additionally, affordable machinery imports help Canadian businesses enhance productivity and competitiveness on a global scale.

3. Articles of Iron or Steel

Articles of iron or steel, worth $246.21 million, make up another significant category of imports from India. These items include steel pipes, construction materials, and various machinery components required for Canada’s construction, automotive, and energy sectors. The availability of Indian iron and steel products supports Canadian infrastructure development and allows the country to meet the demands of its growing industrial sector, while also managing costs by sourcing competitively from India.

4. Electrical and Electronic Equipment

Canada imported electrical and electronic equipment worth $242.11 million from India in 2023. These products include advanced machinery used in manufacturing, consumer electronics, and components essential for the telecommunications industry. Importing these high-quality electronic products from India provides Canada access to modern technology at competitive prices, helping meet both industrial and consumer demands.

5. Pearls, Precious Stones, Metals, and Coins

With a trade value of $186.83 million, India’s exports of precious metals and gems like gold and diamonds hold a significant position in Canadian imports. These products are essential for Canada’s jewelry and electronics industries. As demand for luxury items and high-quality materials rises, Canadian importers rely on India’s well-established gemstone and precious metals industry to supply products for commercial use and consumer markets.

6. Organic Chemicals

India supplies a substantial amount of organic chemicals, with $179.86 million worth imported by Canada in 2023. These chemicals serve as raw materials for Canada’s chemical, pharmaceutical, and agricultural industries. Importing organic chemicals from India enables Canadian companies to manufacture diverse products, from medicines to fertilizers, supporting industrial growth and the agricultural sector.

7. Optical, Photographic, Technical, and Medical Apparatus

Canada imported approximately $116.52 million worth of optical, photographic, technical, and medical apparatus from India. These include healthcare appliances, surgical instruments, and diagnostic equipment that support Canada’s medical infrastructure. By importing these medical devices, Canada enhances its healthcare facilities with modern, reliable equipment, providing crucial support for patient care and medical research.

8. Rubber Products

With imports totaling $115.35 million, rubber products from India are essential for various Canadian industries. Rubber is widely used in manufacturing and automotive applications, including tires, gaskets, and other industrial components. This continuous demand for rubber products reinforces the trade relationship between Canada and India, contributing to the resilience of Canada’s manufacturing and automotive sectors.

9. Plastics

Canada imported $113.82 million worth of plastics from India in 2023. Plastics play a pivotal role in consumer and industrial products, from packaging materials to building supplies. By importing these items, Canada ensures a steady supply of affordable plastics for both everyday use and specialized industrial applications. This access to cost-effective plastics supports diverse sectors, including construction, healthcare, and consumer goods manufacturing.

10. Coffee, Tea, Mate, and Spices

India is a well-known supplier of tea, coffee, spices, and other aromatic products, and Canada imported $80.21 million worth of these items in 2023. The popularity of Indian tea and spices among Canadian consumers highlights Canada’s multicultural and diverse taste preferences. These imports also reflect the importance of India as a supplier of high-quality, exotic food products that cater to Canada’s culinary and cultural diversity.

Canada’s Import Economy and the Role of Indian Goods

Canada’s economy is robust and diverse, with a strong service sector and significant reliance on imports to meet domestic needs. In 2023, Canada’s imports of goods and services accounted for 33.71% of its GDP, underscoring the importance of trade in the country’s economic structure. While Canada’s primary trading partners include the United States, China, Mexico, and Germany, India has carved out a vital role, providing a variety of products that support Canada’s industrial, healthcare, and consumer sectors.

Canadian Importers from India

A range of prominent Canadian companies sources goods from India, ensuring that local markets have access to high-quality imported products. Some of these top importers include:

20/20 Accessory Source Ltd.

Amazon.com, Inc.

Canadian Tire Corporation Limited

First Chemical Limited

Belkin, Inc.

Globe Commercial Products Inc.

These companies help meet the increasing demand for Indian products in Canada, ranging from pharmaceuticals and machinery to consumer electronics and household goods.

How to Find Importers in Canada

For businesses looking to enter the Canadian market, having access to reliable import data and a list of Canadian importers is essential. Specialized databases, such as those provided by Exportimportdata.in, offer detailed trade information, including HS codes and updated lists of Canadian importers. By utilizing these resources, companies can stay informed about market trends, compliance with trade regulations, and specific Canadian demand for imported goods.

Final Thoughts

The economic relationship between Canada and India is characterized by a steady flow of diverse goods that supports both nations’ economies. Canada’s reliance on imports from India across multiple sectors demonstrates the mutually beneficial nature of this trade relationship. Products such as pharmaceuticals, machinery, and electronic equipment from India not only help to meet Canada’s industrial and consumer demands but also contribute to Canada’s economic resilience and growth.

As Canadian industries continue to require affordable and reliable resources, India remains a crucial trade partner. Importing goods from India supports various sectors within Canada, from healthcare to manufacturing, by providing access to high-quality products at competitive prices. This trend reflects the broader dynamics of global trade, where strategic partnerships and a reliance on international supply chains play a pivotal role in strengthening national economies.

For companies and businesses interested in Canadian import data or looking to establish trade relationships with Canadian importers, resources like Exportimportdata.in provide valuable insights and up-to-date information on the Canadian market, ensuring that businesses remain informed and ready to leverage new opportunities in international trade.

[aishatradinginsights]

The 2024 U.S. Presidential Election: Market Volatility and the USD’s Future

As the 2024 U.S. presidential election approaches, markets worldwide are preparing for potential shifts that could significantly impact trading opportunities. This election is more than just a political event; with major issues like economic policy, healthcare, and climate change on the line, the stakes are high for investors and traders alike. The future of the U.S. dollar, in particular, stands in a pivotal position. Could it surge to new strengths, or will it face unprecedented pressures? These questions weigh heavily on the financial sector as November 5 nears.

Key Election Issues Impacting the Markets

The two primary candidates bring vastly different visions to the table, each with implications for various sectors:

Economic Policies and Sectoral Shifts: The economy is top of mind for U.S. voters, with inflation, taxes, and job growth at the forefront. The winning candidate’s economic strategy will impact several key sectors:

Tech and Energy: Proposed regulatory and tax changes could lead to increased volatility in both technology stocks and traditional energy sectors. A green-focused candidate may push for renewable energy incentives, boosting clean energy stocks while challenging oil and gas companies.

Healthcare: Healthcare stocks could also be in for a turbulent ride. Expanded healthcare access could increase demand for services, while new regulations might impact pricing models for pharmaceutical and insurance companies. These shifts may bring short-term trading opportunities as policy announcements and election results unfold.

Currency Fluctuations: The U.S. dollar’s stability is a critical focus. Historically, pro-business policies tend to strengthen the dollar, while increased spending plans can apply downward pressure. This election may lead to fluctuations across major currency pairs such as EUR/USD and USD/JPY, as traders assess how fiscal and trade policies will shape global currency markets. Emerging market currencies could also see volatility as they react to USD performance and trade relations with the U.S.

Safe-Haven Assets: Political uncertainty often drives demand for safe-haven assets like gold, Japanese yen, and U.S. Treasury bonds. With the 2024 election bringing concerns of potential post-election instability, these assets may see increased interest from traders seeking protection. In the case of a smooth transition or clear policy direction post-election, traders might expect outflows from these assets as confidence returns to the markets.

Global Trade, Commodities, and the Ripple Effect

Trade relations are a significant focal point of this election. U.S. policies affecting tariffs and international agreements have implications for commodity prices and global trade. Key areas of impact include:

China-U.S. Relations: Trade relations with China may be redefined, affecting companies with significant export ties and impacting raw material prices. This could influence commodities such as steel and oil, leading to volatility across sectors dependent on these inputs.

Commodities and Agricultural Exports: Trade policies may also impact prices of agricultural products and industrial commodities. A candidate with a more protectionist stance could drive up tariffs, raising prices for commodities like soybeans, oil, and metals, potentially impacting emerging market economies tied to U.S. demand.

Preparing for Potential USD Movements: Boom or Bust?

The U.S. dollar’s trajectory post-election remains one of the largest questions for traders. With fiscal and trade policies likely to impact USD valuation directly, a few scenarios are worth considering:

Strong Dollar Scenario: If the election results in policies that reduce regulation, boost business incentives, and encourage economic growth, the USD could strengthen. This would likely impact other global currencies, leading to potential shifts in currency pairs, particularly those involving the yen, euro, and emerging market currencies sensitive to dollar strength.

Dollar Under Pressure: Alternatively, if government spending increases or trade policies create uncertainties, the dollar may face downward pressure. This scenario could impact imports, debt obligations for dollar-denominated loans in emerging markets, and shift capital flows into assets like gold and other safe-haven investments.

For traders and investors, the next few weeks will be crucial for preparing and strategizing around these potential movements. Assessing sectors sensitive to economic policy changes, monitoring polling data, and tracking global trade discussions will be essential in positioning for the election outcome.

For those looking to deepen their understanding and develop trading strategies, Victor Say’s seminar, “2024: USD Boom or Bust?” on November 8 at Tower Two, Singapore will dive into these scenarios and provide expert insights on how to navigate the post-election market landscape. This event will offer detailed analysis on trading opportunities, sector-specific impacts, and what to anticipate for the U.S. dollar’s future.

[bharat2export]

Top 10 B2B Online Marketplaces to Boost Your Global Trade

In the rapidly expanding world of online trade, finding the right platform to connect with genuine buyers and sellers can make all the difference for your business. Bharat2Export is here to help companies make informed decisions by offering comprehensive trade solutions, from reliable sourcing to logistics support. As a trusted partner in B2B services, Bharat2Export provides insights into the Top 10 B2B Online Marketplaces where you can find valuable trading partners. Below, we discuss these marketplaces and how they can benefit businesses looking to expand their global reach.

1. Bharat2Export

Bharat2Export stands out as a unique, India-focused B2B marketplace dedicated to supporting exporters with an extensive range of services, from reliable sourcing to logistics solutions. Our platform provides Indian businesses with a streamlined connection to international buyers, giving them a powerful advantage in the global market. Bharat2Export focuses on understanding client needs, offering tailored support that includes customized solutions and global trade opportunities.

2. Alibaba

Alibaba is a leading B2B online marketplace known globally for connecting buyers and suppliers. Founded in China, Alibaba offers businesses worldwide access to a vast selection of products, from electronics to fashion. This platform is an excellent choice for Indian exporters seeking to connect with buyers across multiple continents, and Bharat2Export is well-versed in helping clients navigate Alibaba to find reliable connections and market insights.

3. Global Sources

Based in Hong Kong, Global Sources is another popular marketplace that emphasizes quality and verified suppliers. This platform is often preferred by businesses in the electronics and manufacturing sectors. Through Global Sources, businesses can connect with reliable suppliers and buyers, leveraging Bharat2Export's expertise in ensuring successful trade engagements and fulfilling international buyer requirements.

4. IndiaMART

IndiaMART is one of the largest B2B online marketplaces in India, focused on connecting Indian sellers with both domestic and international buyers. It is an excellent platform for small to medium-sized businesses looking to expand. Bharat2Export assists companies in setting up and optimizing their IndiaMART profiles, making it easier for them to gain visibility and attract international buyers.

5. ThomasNet

ThomasNet is a B2B marketplace primarily catering to the North American market and is ideal for businesses dealing in industrial goods, machinery, and equipment. Bharat2Export aids Indian companies in navigating ThomasNet, ensuring they understand the local market's needs and find suitable buyers or partners in North America.

6. TradeIndia

TradeIndia is an India-centric B2B platform that connects Indian businesses with buyers worldwide. This platform is known for showcasing a wide range of industries, from textiles to pharmaceuticals. Bharat2Export helps clients maximize their presence on TradeIndia by offering services like product listing optimization, reliable sourcing, and global trade connections.

7. Amazon Business

Amazon Business is a growing B2B platform tailored for businesses looking to buy or sell in bulk. While it caters more to U.S. and European markets, it’s increasingly expanding its reach globally. Bharat2Export provides logistics and support to Indian businesses entering the Amazon Business platform, ensuring smooth transactions and strategic visibility.

8. EC21

EC21, headquartered in South Korea, is a prominent B2B marketplace that caters to Asian and global markets. This platform is ideal for Indian exporters aiming to enter the East Asian market. With Bharat2Export’s guidance, Indian exporters can strategically list their products on EC21, making the most of the platform’s reach and regional buyer base.

9. eWorldTrade

eWorldTrade is a growing B2B marketplace that provides a diverse range of products and services, from textiles to industrial machinery. Known for its robust customer service, eWorldTrade has become a popular choice for exporters and importers. Bharat2Export can help businesses on this platform by providing reliable sourcing and buyer verification, making sure that Indian exporters connect with serious buyers.

10. DHgate

DHgate, primarily known as a Chinese B2B platform, connects manufacturers with businesses worldwide. It focuses heavily on affordable products, making it an attractive choice for buyers looking to source products in bulk at lower prices. Bharat2Export assists Indian businesses on DHgate with everything from reliable sourcing to managing trade logistics, ensuring Indian exporters make a successful foray into international markets.

Why B2B Marketplaces Matter

B2B marketplaces are essential tools for businesses looking to expand globally. They simplify the process of finding and connecting with international buyers, providing a digital platform where transactions can take place securely. Bharat2Export recognizes the importance of these platforms in helping Indian exporters enter new markets, offering tailored solutions for each marketplace to ensure maximum success.

How Bharat2Export Supports Your Business on B2B Platforms

For businesses looking to join the Top 10 B2B Online Marketplaces, Bharat2Export offers a full suite of services to help navigate these platforms. Our team provides:

Global Trade Opportunities: We connect businesses with genuine buyers across these marketplaces, ensuring high-quality leads and market entry assistance.

Reliable Sourcing: Bharat2Export’s reliable sourcing services help companies verify buyer credibility, ensuring you connect with trustworthy partners.

Customized Solutions: Each B2B platform has its unique requirements, and Bharat2Export customizes our approach to meet each platform's standards.

Logistics Support: From shipping to customs clearance, we provide comprehensive logistics support for seamless transactions.

Making the Most of B2B Marketplaces

While joining a marketplace is a crucial step, it’s equally important to optimize your presence on each platform. Bharat2Export recommends the following tips to maximize your success:

Profile Optimization: A well-crafted profile with clear descriptions and images can attract more buyers. Bharat2Export can help create a professional, SEO-optimized profile that enhances visibility on each marketplace.

Engage in Buyer Inquiries: Responding promptly and professionally to inquiries is essential in building trust. Our team provides support for communication, ensuring effective engagement with potential buyers.

Use Market Insights: Bharat2Export offers insights into market trends, helping Indian exporters adapt their products and pricing strategies to meet global demands.

Conclusion: Choose Bharat2Export for Success in the Top 10 B2B Online Marketplaces

For Indian businesses looking to succeed in the Top 10 B2B Online Marketplaces, Bharat2Export is a valuable partner. Our expertise in these platforms, combined with our extensive trade solutions, helps Indian exporters find reliable buyers, streamline logistics, and build long-lasting partnerships. Whether you are new to B2B marketplaces or looking to enhance your current strategy, Bharat2Export offers the support you need to thrive in global markets.

[pharmawalksjobs]

APL Healthcare (Aurobindo) walk-in interview for QA/ QC/ Engineering on 26th Oct 2024

AUROBINDO PHARMA LTD, also known as APL Healthcare Ltd, is an expanding Indian multinational pharmaceutical manufacturing company that achieved revenues exceeding US$2.8 Billion in 2018-19. The company has a strong presence in over 34 countries and exports its products to 155 nations. APL holds the position of the 2nd Largest Generic Company in terms of Rx dispensed in the USA. Additionally, APL…

[marketingreportz]

Compressor Oil Market - Forecast(2024 - 2030)

Overview

Compressor Oil Market size $9.5 billion in 2023, and the total revenue is expected to grow at a CAGR of 6.6% through 2024 to 2030, reaching nearly $ 21.19 Billion. It Compressor oil offers various properties such as viscosity, chemical stability, dielectric strength & moisture, and others which are expected to grow the demand from end-use industries. These oils are used for lubrication, removal of heat, and for sealing. 

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Manufacturers are increasingly developing advanced synthetic formulations to meet the evolving requirements of modern compressors, driving the uptake of synthetic compressor oils in various industrial applications. With rising concerns about energy consumption and environmental impact, there is a heightened focus on developing compressor oils that contribute to energy efficiency and environmental sustainability. Manufacturers are innovating with low-viscosity oils and formulations with reduced frictional losses to optimize compressor performance and minimize energy consumption. Additionally, there is a shift towards eco-friendly compressor oil formulations that comply with environmental regulations and promote sustainable practices in industrial operations.

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By Base Oil Type: Synthetic Oils (Polyalkylene Glycols (PAGs), Polyalphaolefins (PAOs), Diester and Polyolesters, Phosphate Esters, Silicone Based), Mineral Oil, and Others

By Compressor Type: Positive Displacement Compressor (Rotary Compressor and Reciprocating), Dynamic Compressor (Centrifugal Compressor and Axial Compressor).

By End-Use Industry: Chemical & Petrochemical, Transportation, Food & Beverages, Oil & Gas, Marine, Pharmaceutical, Metal Fabrication, Mining, Energy, and Others.

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, ANZ, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa)

Key Takeaways

Asia-Pacific region dominated the compressor oil market, due to the high consumption of compressor oil in emerging and developing Asian countries such as India, China, Japan, Malaysia, South Korea, and others.

Growing demand for compressor oil as they help to reduce production cost in various end-use industries such as chemical & petrochemical, oil & gas, and others. According to the American Chemistry Council (ACC), in the United States, chemical exports are expected to grow by US$ 134.5 billion in 2021.

Increasing demand for synthetic lubricants as they have various properties such as anti-oxidation, excellent thermal stability, excellent viscosity index, and others is estimated to growing the compressor oil market size.

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Compressor Oil Market Segment Analysis — by Type

The synthetic oil segment is projected to witness the highest share of 55% in the compressor oil market in 2023 as it comes with excellent properties such as anti-oxidation and thermal stability. Polyalphaolefins synthetic oil can contribute to an extended service life of machine parts at a low cost. Synthetic oil provides outstanding viscosity index, high flash point, low pour point, and excellent hydrolytic stability, thus it is widely required in air compressors especially vane and screw compressors. Furthermore, synthetic lubricant improves the fuel efficiency of machine parts and reduced operating costs. Hence, the consumption of synthetic base oil is estimated to influence the market for compressor oil

Compressor Oil Market Segment Analysis — By Compressor Type

Positive displacement compressor type segment held the largest share of 56% in the compressor oil market in 2023 as they have excellent operational efficiency. Positive displacement compressors capture the volume of air in a chamber. They help to reduce the volume of the chamber to compress the air. This type of compressor uses vanes instead of helical blades on a rotor to compress air that enters the cavity. Positive displacement compressor uses a piston for air compression that moves backward and forward. A rotary compressor is a very required positive displacement air compressor type. It sucks air into the cylinder, then closes the valve, and compresses the air with two rotors. These rotors rotate regularly and run through the chamber. Compressor oils lower the temperature of the operation during the mixture of air and oil. The maximum output of a rotary compressor is mostly 600 horsepower and 1000 horsepower of the reciprocating compressor. Hence, the growing demand for positive displacement compressors is estimated to grow the consumption of compressor oil.

Compressor Oil Market Segment Analysis — By End-Use Industry

Chemical & petrochemical sector held the largest share in the compressor oil market in 2023 and is growing at a CAGR of 4.6% during this forecast period of 2024–2030, as compressor oil increases the service of machine, reduces operational cost & power consumption during operation. Thus, the increasing chemical & petrochemical industry is estimated to grow the consumption of compressor oil. Apart from this, according to the U.S. Energy Information Administration, the total natural gas production is projected to contribute 30% and more than 75% in Canada & Mexico, respectively by 2040. Hence, all factors are estimated to grow the consumption of compressor oil. The use of compressor oils in the chemical and petrochemicals industry is to guarantee the untroubled functioning of the machine parts and also help in minimizing the expenses and increasing the lifetime of the machine.

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By Geography — Segment Analysis

Asia Pacific dominated the compressor oil market in 2023 with a share of more than 45%. China and India are expected to witness high demand for compressor oil during the forecast period, with the growing need from the oil & gas industry, automotive industry, chemical & petrochemical industry, and others. Compressor oils provide different advantages such as reduces energy consumption, reduces operational cost, longer life, corrosion resistance, synthetic solvency, and others. Thus, these lubricants are widely consumed by end-use sectors. According to the U.S. Energy Information Administration, the total natural gas production is projected to contribute more than 40% in China by 2040. As compressor oils are used in power transmission to machines and engines, so the increasing automotive industry is also estimated to grow the consumption of compressor oil. Additionally, according to the Association of Automobile Manufacturers, China has become a world leader in the electric bus segment which grows in production of electric buses at 34% by 2025. Hence, such factors are estimated to grow the demand for compressor oil in the region.

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Drivers — The Compressor Oil Market

Increasing Consumption of Compressor Oil from Automotive Industry

Compressor oil lubricants are used for inflating vehicles, cars, and motorcycle tires. These air compressor oil used to transfer power to the machine and engines. Compressor oil is used in the production cycle of the automotive industry due to its ease of maintenance and reduction in operative costs. Thus, increasing automotive production is estimated to grow the consumption of compressor oil. In 2023, the Australian car market experienced growth despite widely publicized supply issues. A total of 1,081,429 new cars, SUVs, and commercial vehicles were delivered, marking the best result since 2018 when 1,153,111 vehicles were sold. Toyota secured the top spot in annual sales, achieving its best result in 14 years. Mazda followed in second place, while Kia achieved its best-ever result for a third-place finish. Notably, battery electric vehicles accounted for 3.1% of sales, and this trend is expected to continue in 2023 with more affordable models from China entering the market1.

Fast forward to 2023, and the Australian new vehicle market has rebounded significantly in the first half of the year, showing 8.2% growth compared to the same period in 2023. Some interesting developments include, Hence, such factors are expected to grow the compressor oil market size

Growing Demand for Positive Displacement Air Compressor

Positive air compressors such as rotary compressors and reciprocating compressors are widely used as they require a low cost of production. The positive air compressor has a high-pressure ratio, thus it is widely used in refrigerators, chemical plants, automotive cylinders, and hydraulic cylinders. Reciprocating positive displacement air compressors are designed for the double or single chamber, as they use the piston for the constant movement of air in the chamber. Apart from this, rotary compressor such as screw compressor has safety devices that are fully packaged and pre-installed. Hence, as it reduce the production cost, the demand for positive displacement air compressor is estimated to boost from the chemical industry which, in turn, is expected to grow the compressor oil market size.

Challenges — Compressor Oil Market

Volatility in Raw Material Prices

Synthetic oils are typically created from chemically modified materials such as petroleum components but the base material is always distilled crude oil. Although polyalphaolefin is produced through a synthetic chemical process that originated from ethylene. Ethylene is produced by cracking crude oil. Hence, fluctuation in crude oil prices may hamper market growth. The U.S. Energy Information Administration (EIA) projected that Brent crude oil prices would average $83 per barrel in 2023, down from $101/b in 2022. This decline was mainly due to expectations of global oil production outpacing consumption. Another forecast indicated that the Brent price would stay relatively flat through the second quarter of 2023, averaging $85/b, and then decline through the end of the year.

Compressor Oil Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Compressor Oil Market. Major players in the Compressor Oil Market are Chevron U.S.A. Inc, Croda International Plc, Eurol, Exxon Mobil Corporation, FUCHS, HP Lubricants, LUKOIL Marine Lubricants DMCC, OMSC, Royal Dutch Shell plc, Sasol and among others.

Developments:

In February 2023, Chevron Shipping Company LLC, a subsidiary of Chevron Corporation, announced an agreement with Sembcorp Marine Repairs & Upgrades Pte. Ltd. to install new technologies to support the energy transition goals and lower carbon footprint of Chevron vessels

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