Asia-Pacific: Resinoids Market 2022

Resinoids Market Size in Asia-Pacific

In 2021, the Asia-Pacific resinoids market increased by 12% to $X for the first time since 2016, thus ending a four-year declining trend. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -38.4% against 2016 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Resinoids Production in Asia-Pacific

In value terms, resinoids production expanded notably to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -39.4% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of 43% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Resinoids Exports

Exports in Asia-Pacific

In 2021, shipments abroad of resinoids increased by 27% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2013 when exports increased by 159% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, resinoids exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2013 with an increase of 181% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, China (X tons) was the main exporter of resinoids, committing 57% of total exports. India (X tons) ranks second in terms of the total exports with a 20% share, followed by Taiwan (Chinese) (15%). The following exporters - Indonesia (X tons) and Malaysia (X tons) - each recorded a 6% share of total exports.

China was also the fastest-growing in terms of the resinoids exports, with a CAGR of +7.6% from 2012 to 2021. At the same time, Malaysia (+5.3%) displayed positive paces of growth. Indonesia experienced a relatively flat trend pattern. By contrast, India (-4.9%) and Taiwan (Chinese) (-11.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +34 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest resinoids supplier in Asia-Pacific, comprising 57% of total exports. The second position in the ranking was held by India ($X), with a 20% share of total exports. It was followed by Indonesia, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +12.0%. The remaining exporting countries recorded the following average annual rates of exports growth: India (-11.0% per year) and Indonesia (-4.4% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, picking up by 11% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 22%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood 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 Indonesia ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the other leaders experienced a decline in the export price figures.

Resinoids Imports

Imports in Asia-Pacific

For the third consecutive year, Asia-Pacific recorded decline in supplies from abroad of resinoids, which decreased by -2.7% to X tons in 2021. Total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -26.5% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 70% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, resinoids imports totaled $X in 2021. In general, imports, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2018 with an increase of 68% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Myanmar (X tons), distantly followed by New Zealand (X tons), Singapore (X tons), Vietnam (X tons), Indonesia (X tons), Malaysia (X tons), India (X tons) and Hong Kong SAR (X tons) were the major importers of resinoids, together committing 83% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by New Zealand (with a CAGR of +82.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Indonesia ($X) and India ($X) were the countries with the highest levels of imports in 2021, with a combined 54% share of total imports.

Among the main importing countries, New Zealand, with a CAGR of +86.1%, saw 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 Asia-Pacific amounted to $X per ton, growing by 7.8% against the previous year. Over the period under review, the import price, however, showed a slight downturn. The most prominent rate of growth was recorded in 2014 when the import price increased by 32%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was India ($X per ton), while Myanmar ($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 more modest paces of growth.

Source: IndexBox Platform

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