Asia-Pacific: Epoxide Resin Market 2024

Epoxide Resin Market Size in Asia-Pacific

In 2021, the Asia-Pacific epoxide resin market increased by 4.8% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the market value increased by 5.1% against the previous year. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Epoxide Resin Production in Asia-Pacific

In value terms, epoxide resin production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 11% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Epoxide Resin Exports

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in shipments abroad of epoxide resins, which increased by 17% to X tons in 2021. The total export volume increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, epoxide resin exports skyrocketed to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, South Korea (X tons) and Taiwan (Chinese) (X tons) represented the key exporters of epoxide resins in Asia-Pacific, together reaching near 66% of total exports. China (X tons) ranks next in terms of the total exports with a 13% share, followed by Thailand (6.7%) and Japan (5.2%). India (X tons) and Singapore (X tons) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of +17.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest epoxide resin supplying countries in Asia-Pacific were South Korea ($X), Taiwan (Chinese) ($X) and Japan ($X), together accounting for 73% of total exports. These countries were followed by China, Thailand, Singapore and India, which together accounted for a further 22%.

India, with a CAGR of +19.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, growing by 46% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.4%), while the other leaders experienced more modest paces of growth.

Epoxide Resin Imports

Imports in Asia-Pacific

In 2021, after two years of growth, there was significant decline in supplies from abroad of epoxide resins, when their volume decreased by -7.9% to X tons. The total import volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 15%. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, epoxide resin imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the major importer of epoxide resins in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. 48% of total imports in 2021. It was distantly followed by India (X tons), Japan (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons) and Malaysia (X tons), together comprising a 35% share of total imports. Vietnam (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the epoxide resins imports, with a CAGR of +5.2% from 2012 to 2021. At the same time, India (+5.0%), Vietnam (+4.8%), Thailand (+4.6%) and Japan (+2.9%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. By contrast, Indonesia (-1.3%) and Malaysia (-2.1%) illustrated a downward trend over the same period. China (+11 p.p.) and India (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Malaysia saw its share reduced by -1.8% and -2.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported epoxide resins in Asia-Pacific, comprising 44% of total imports. The second position in the ranking was held by India ($X), with a 7.7% share of total imports. It was followed by Thailand, with a 7.7% share.

In China, epoxide resin imports increased at an average annual rate of +6.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: India (+6.8% per year) and Thailand (+6.7% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, surging by 41% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while India ($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 (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :