Asia: Resinoids Market 2022

Resinoids Market Size in Asia

The Asian resinoids market was finally on the rise to reach $X in 2021, after five years of decline. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -37.7% against 2015 indices. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Resinoids Production in Asia

In value terms, resinoids production expanded sharply to $X in 2021 estimated in export price. The total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -39.9% against 2015 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 48%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Resinoids Exports

Exports in Asia

In 2021, shipments abroad of resinoids increased by 18% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 148% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, resinoids exports skyrocketed to $X in 2021. Overall, exports, however, showed a slight decline. The most prominent rate of growth was recorded in 2013 with an increase of 170%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China was the major exporting country with an export of about X tons, which recorded 55% of total exports. India (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together held approx. 33% share of total exports. The following exporters - the United Arab Emirates (X tons), Indonesia (X tons) and Malaysia (X tons) - together made up 9.4% 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, the United Arab Emirates (-1.2%), India (-4.9%) and Taiwan (Chinese) (-11.6%) illustrated a downward trend over the same period. China (+32 p.p.) significantly strengthened its position in terms of the total exports, while India and Taiwan (Chinese) saw its share reduced by -5.1% and -20.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest resinoids supplier in Asia, comprising 47% of total exports. The second position in the ranking was held by India ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +12.0%. In the other countries, the average annual rates were as follows: India (-11.0% per year) and the United Arab Emirates (+16.0% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 12% against the previous year. Export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, resinoids export price increased by +34.8% against 2017 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by 16%. 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 the United Arab Emirates ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+17.4%), while the other leaders experienced mixed trends in the export price figures.

Resinoids Imports

Imports in Asia

In 2021, approx. X tons of resinoids were imported in Asia; with a decrease of -8.4% compared with the previous year. Over the period under review, imports saw a pronounced contraction. The growth pace was the most rapid in 2018 with an increase of 25% 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 reached $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. 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

Saudi Arabia (X tons), Myanmar (X tons) and the United Arab Emirates (X tons) represented roughly 43% of total imports in 2021. Singapore (X tons) ranks next in terms of the total imports with a 6.4% share, followed by Vietnam (6.4%), Indonesia (5.3%), Iraq (4.9%) and Yemen (4.5%). Malaysia (X tons), India (X tons), Hong Kong SAR (X tons), Qatar (X tons) and Oman (X tons) held a little share 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 Qatar (with a CAGR of +62.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported resinoids in Asia, comprising 39% of total imports. The second position in the ranking was held by Indonesia ($X), with a 10% share of total imports. It was followed by India, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia totaled +4.2%. In the other countries, the average annual rates were as follows: Indonesia (+2.1% per year) and India (-5.9% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, surging by 9.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. The pace of growth was the most pronounced in 2013 an increase of 39%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+21.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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