ASEAN: Resinoids Market 2022

Resinoids Market Size in ASEAN

In 2021, after two years of decline, there was significant growth in the ASEAN resinoids market, when its value increased by 19% to $X. In general, consumption showed a modest increase. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Resinoids Production in ASEAN

In value terms, resinoids production surged to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 132% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Resinoids Exports

Exports in ASEAN

In 2021, overseas shipments of resinoids were finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate slight growth. The pace of growth was the most pronounced in 2014 with an increase of 73% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, resinoids exports soared to $X in 2021. Overall, exports, however, saw a mild downturn. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) and Malaysia (X tons) dominates exports structure, together comprising 87% of total exports. It was distantly followed by Singapore (X tons), generating a 9% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Malaysia (with a CAGR of +5.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Indonesia ($X) remains the largest resinoids supplier in ASEAN, comprising 53% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 23% share of total exports. It was followed by Singapore, with a 13% share.

In Indonesia, resinoids exports decreased by an average annual rate of -4.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+3.5% per year) and Singapore (-0.0% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, dropping by -16.8% against the previous year. Overall, the export price recorded a perceptible decrease. The pace of growth was the most pronounced in 2013 when the export price increased by 17% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Resinoids Imports

Imports in ASEAN

In 2021, resinoids imports in ASEAN contracted to X tons, shrinking by -12% on 2020. Over the period under review, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 92% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, resinoids imports declined modestly to $X in 2021. Overall, imports, however, saw notable growth. The pace of growth was the most pronounced in 2018 when imports increased by 110%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Myanmar represented the major importer of resinoids in ASEAN, with the volume of imports accounting for X tons, which was approx. 37% of total imports in 2021. It was distantly followed by Singapore (X tons), Vietnam (X tons), Indonesia (X tons), Malaysia (X tons) and the Philippines (X tons), together mixing up a 59% share of total imports. Cambodia (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to resinoids imports into Myanmar stood at +17.1%. At the same time, Vietnam (+57.2%), Malaysia (+14.7%) and Singapore (+8.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +57.2% from 2012-2021. The Philippines experienced a relatively flat trend pattern. By contrast, Indonesia (-6.7%) and Cambodia (-7.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Myanmar, Vietnam, Malaysia and Singapore increased by +22, +15, +4.9 and +2.5 percentage points, respectively.

In value terms, the largest resinoids importing markets in ASEAN were Indonesia ($X), Singapore ($X) and Myanmar ($X), together comprising 74% of total imports. Malaysia, the Philippines, Vietnam and Cambodia lagged somewhat behind, together accounting for a further 26%.

In terms of the main importing countries, Vietnam, with a CAGR of +28.5%, recorded the highest growth rate of 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

In 2021, the import price in ASEAN amounted to $X per ton, increasing by 9.8% against the previous year. Over the period under review, the import price, however, recorded a pronounced decline. The growth pace was the most rapid in 2013 when the import price increased by 35% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Indonesia ($X per ton), while Myanmar ($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 (+9.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform