Australia: Epoxide Resin Market 2024

Epoxide Resin Market Size in Australia

After two years of decline, the Australian epoxide resin market increased by 42% to $X in 2021. In general, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Epoxide resin consumption peaked in 2021 and is likely to see steady growth in the near future.

Epoxide Resin Exports

Exports from Australia

In 2021, epoxide resin exports from Australia amounted to X tons, growing by 2.7% against the previous year's figure. Over the period under review, exports, however, saw a mild curtailment. The pace of growth was the most pronounced in 2013 when exports increased by 219%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, epoxide resin exports expanded remarkably to $X in 2021. Overall, exports posted a notable expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 139%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons), Indonesia (X tons) and Thailand (X tons) were the main destinations of epoxide resin exports from Australia, with a combined 52% share of total exports. These countries were followed by Vietnam, China, Egypt, New Caledonia, Cambodia, Papua New Guinea, Canada, Malaysia, Samoa and Russia, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +60.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for epoxide resin exported from Australia were Indonesia ($X), New Zealand ($X) and Vietnam ($X), together accounting for 44% of total exports. These countries were followed by Thailand, China, New Caledonia, Canada, Malaysia, Papua New Guinea, Egypt, Russia, Cambodia and Samoa, which together accounted for a further 33%.

In terms of the main countries of destination, Russia, with a CAGR of +99.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average epoxide resin export price amounted to $X per ton, increasing by 6.4% against the previous year. In general, the export price recorded moderate growth. The most prominent rate of growth was recorded in 2018 an increase of 76%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Samoa (+38.5%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into Australia

In 2021, purchases abroad of epoxide resins was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 32%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, epoxide resin imports soared to $X in 2021. In general, total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), the United States (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of epoxide resin imports to Australia, together accounting for 54% of total imports. Singapore, China, Thailand, the Netherlands and Germany lagged somewhat behind, together comprising a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +21.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Taiwan (Chinese) ($X) and South Korea ($X) appeared to be the largest epoxide resin suppliers to Australia, with a combined 48% share of total imports. These countries were followed by Singapore, China, Thailand, Germany and the Netherlands, which together accounted for a further 29%.

In terms of the main suppliers, Thailand, with a CAGR of +19.5%, 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 average epoxide resin import price amounted to $X per ton, growing by 21% against the previous year. Overall, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, epoxide resin import price increased by +69.6% against 2015 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by 27%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the Netherlands ($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) (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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