ASEAN: Amino Resin Market 2025

Amino Resin Market Size in ASEAN

The ASEAN amino resin market expanded slightly to $X in 2022, surging by 3.5% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +22.3% against 2019 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Amino Resin Production in ASEAN

In value terms, amino resin production contracted to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.0% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 47%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Amino Resin Exports

Exports in ASEAN

Amino resin exports dropped remarkably to X tons in 2022, which is down by -33.9% against 2021. In general, exports, however, posted a noticeable expansion. The growth pace was the most rapid in 2018 with an increase of 83% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted significantly in the following year.

In value terms, amino resin exports dropped markedly to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 83% against the previous year. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

Singapore represented the major exporter of amino resins in ASEAN, with the volume of exports reaching X tons, which was near 70% of total exports in 2022. Indonesia (X tons) ranks second in terms of the total exports with a 12% share, followed by Malaysia (9.6%) and Thailand (8.6%).

Singapore was also the fastest-growing in terms of the amino resins exports, with a CAGR of +10.4% from 2012 to 2022. Indonesia experienced a relatively flat trend pattern. Thailand (-1.2%) and Malaysia (-9.5%) illustrated a downward trend over the same period. While the share of Singapore (+35 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-4.4 p.p.), Indonesia (-5 p.p.) and Malaysia (-25.4 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) emerged as the largest amino resin supplier in ASEAN, comprising 68% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports. It was followed by Indonesia, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to +7.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-10.4% per year) and Indonesia (-2.8% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, declining by -8% against the previous year. In general, the export price continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2021 when the export price increased by 14% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Malaysia ($X per ton) and Thailand ($X per ton), while Indonesia ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+0.4%), while the other leaders experienced a decline in the export price figures.

Amino Resin Imports

Imports in ASEAN

In 2022, after three years of growth, there was decline in supplies from abroad of amino resins, when their volume decreased by -1.2% to X tons. In general, imports, however, posted strong growth. The growth pace was the most rapid in 2015 with an increase of 20%. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, amino resin imports dropped to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Vietnam (X tons) and Thailand (X tons) were the largest importers of amino resins in 2022, accounting for near 30% and 27% of total imports, respectively. Malaysia (X tons) held the next position in the ranking, followed by Indonesia (X tons) and Singapore (X tons). All these countries together took approx. 40% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +30.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest amino resin importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Malaysia ($X), together accounting for 74% of total imports.

Among the main importing countries, Thailand, with a CAGR of +26.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, falling by -6.8% against the previous year. Overall, the import price saw a pronounced reduction. The pace of growth appeared the most rapid in 2021 when the import price increased by 39%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform