Belarus: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Belarus

The Belarusian urea and thiourea resins market contracted to $X in 2022, declining by -6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +12.0% against 2020 indices. Urea and thiourea resins consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from Belarus

After ten years of growth, shipments abroad of urea resins and thiourea resins in primary forms decreased by -23.6% to X tons in 2022. Overall, exports, however, saw significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 91% against the previous year. The exports peaked at X tons in 2021, and then dropped remarkably in the following year.

In value terms, urea and thiourea resins exports shrank notably to $X in 2022. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 80% against the previous year. The exports peaked at $X in 2021, and then declined rapidly in the following year.

Exports by Country

Ukraine (X tons) was the main destination for urea and thiourea resins exports from Belarus, accounting for a 55% share of total exports. Moreover, urea and thiourea resins exports to Ukraine exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was held by Latvia (X tons), with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ukraine stood at +61.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+135.4% per year) and Latvia (+51.9% per year).

In value terms, Ukraine ($X) remains the key foreign market for urea resins and thiourea resins in primary forms exports from Belarus, comprising 59% of total exports. The second position in the ranking was held by Latvia ($X), with a 21% share of total exports. It was followed by Poland, with a 19% share.

From 2012 to 2022, the average annual growth rate of value to Ukraine amounted to +70.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+41.5% per year) and Poland (+128.6% per year).

Export Prices by Country

In 2022, the average urea and thiourea resins export price amounted to $X per ton, with an increase of 1.8% against the previous year. Overall, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea and thiourea resins export price decreased by -29.2% against 2014 indices. The pace of growth appeared the most rapid in 2013 an increase of 49% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Russia ($X per ton) and Ukraine ($X per ton), while the average price for exports to Poland ($X per ton) and Latvia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+5.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into Belarus

In 2022, imports of urea resins and thiourea resins in primary forms into Belarus fell modestly to X tons, dropping by -3.5% against the year before. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 97%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, urea and thiourea resins imports shrank dramatically to $X in 2022. In general, imports, however, posted a prominent increase. The growth pace was the most rapid in 2013 with an increase of 106%. Over the period under review, imports hit record highs at $X in 2021, and then declined sharply in the following year.

Imports by Country

In 2022, Russia (X tons) was the main urea and thiourea resins supplier to Belarus, accounting for a approx. 99% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia totaled +12.6%.

In value terms, Russia ($X) constituted the largest supplier of urea resins and thiourea resins in primary forms to Belarus.

From 2012 to 2022, the average annual growth rate of value from Russia amounted to +10.6%.

Import Prices by Country

The average urea and thiourea resins import price stood at $X per ton in 2022, which is down by -20.8% against the previous year. In general, the import price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by 76% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to -1.8% per year.

Source: IndexBox Platform

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