ASEAN: Melamine Resins Market 2024

Melamine Resins Market Size in ASEAN

In 2021, after two years of decline, there was significant growth in the ASEAN melamine resins market, when its value increased by 8.6% to $X. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Melamine Resins Production in ASEAN

In value terms, melamine resins production rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 34% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Melamine Resins Exports

Exports in ASEAN

In 2021, overseas shipments of melamine resins in primary forms were finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, recorded a slight decline. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, melamine resins exports skyrocketed to $X in 2021. Overall, exports, however, showed a slight curtailment. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) and Singapore (X tons) dominates exports structure, together committing 83% of total exports. Indonesia (X tons) ranks next in terms of the total exports with an 8% share, followed by Vietnam (5.5%). Malaysia (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +3.9%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Thailand ($X), Singapore ($X) and Indonesia ($X) were the countries with the highest levels of exports in 2021, together accounting for 95% of total exports.

Singapore, with a CAGR of +1.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, picking up by 8.9% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.0%), while the other leaders experienced more modest paces of growth.

Melamine Resins Imports

Imports in ASEAN

In 2021, purchases abroad of melamine resins in primary forms increased by 20% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a drastic downturn. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, melamine resins imports surged to $X in 2021. In general, imports, however, saw a drastic downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Cambodia (X tons), Vietnam (X tons), Malaysia (X tons), Indonesia (X tons) and Thailand (X tons) was the main importer of melamine resins in primary forms in ASEAN, making up 91% of total import. It was distantly followed by Singapore (X tons), mixing up a 5.5% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +31.6%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest melamine resins importing markets in ASEAN were Malaysia ($X), Vietnam ($X) and Indonesia ($X), together accounting for 61% of total imports. Thailand, Singapore, Cambodia and the Philippines lagged somewhat behind, together comprising a further 38%.

Cambodia, with a CAGR of +29.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, with an increase of 8.2% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 17% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform