Azerbaijan: Market for Rosin And Resin Acids And Derivatives 2024

Market Size for Rosin And Resin Acids And Derivatives in Azerbaijan

The Azerbaijani rosin and resin acids market totaled $X in 2022, flattening at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2019 when the market value increased by X%. Rosin and resin acids consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Rosin And Resin Acids And Derivatives in Azerbaijan

In value terms, rosin and resin acids production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Rosin And Resin Acids And Derivatives

Exports from Azerbaijan

In 2022, shipments abroad of rosin and resin acids and derivatives increased by X% to X kg, rising for the fifth year in a row after four years of decline. In general, exports, however, recorded a slight slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, rosin and resin acids exports expanded markedly to $X in 2022. Overall, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Georgia (X kg) was the main destination for rosin and resin acids exports from Azerbaijan, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Georgia stood at X%.

In value terms, Georgia ($X) also remains the key foreign market for rosin and resin acids and derivatives exports from Azerbaijan.

From 2012 to 2022, the average annual growth rate of value to Georgia amounted to X%.

Export Prices by Country

The average rosin and resin acids export price stood at $X per ton in 2022, rising by X% against the previous year. In general, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rosin and resin acids export price increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Georgia.

From 2012 to 2022, the rate of growth in terms of prices for Georgia amounted to X% per year.

Imports of Rosin And Resin Acids And Derivatives

Imports into Azerbaijan

In 2022, purchases abroad of rosin and resin acids and derivatives increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, rosin and resin acids imports surged to $X in 2022. In general, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of rosin and resin acids to Azerbaijan, accounting for a X% share of total imports. Moreover, rosin and resin acids imports from Turkey exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The UK (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and the UK (X% per year).

In value terms, the largest rosin and resin acids suppliers to Azerbaijan were Turkey ($X), the UK ($X) and Brazil ($X), together accounting for X% of total imports. Russia and China lagged somewhat behind, together comprising a further X%.

Russia, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rosin and resin acids import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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