Belgium: Amino Resin Market 2024

Amino Resin Market Size in Belgium

The Belgian amino resin market soared to $X in 2022, growing by 105% against the previous year. In general, consumption saw a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Amino Resin Production in Belgium

In value terms, amino resin production contracted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 57% against the previous year. Amino resin production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Amino Resin Exports

Exports from Belgium

After three years of growth, shipments abroad of amino resins decreased by -20.5% to X tons in 2022. The total export volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 53%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank dramatically in the following year.

In value terms, amino resin exports shrank dramatically to $X in 2022. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by 128% against the previous year. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

Germany (X tons), the United States (X tons) and France (X tons) were the main destinations of amino resin exports from Belgium, together comprising 46% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +24.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Turkey ($X) appeared to be the largest markets for amino resin exported from Belgium worldwide, with a combined 46% share of total exports.

The United States, with a CAGR of +32.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average amino resin export price amounted to $X per ton, remaining stable against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price 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, amino resin export price increased by +75.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 77% against the previous year. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Amino Resin Imports

Imports into Belgium

In 2022, overseas purchases of amino resins decreased by -54.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed a prominent increase. The growth pace was the most rapid in 2020 when imports increased by 141% against the previous year. Imports peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, amino resin imports contracted significantly to $X in 2022. In general, imports, however, posted strong growth. The pace of growth was the most pronounced in 2020 when imports increased by 131% against the previous year. Imports peaked at $X in 2021, and then fell significantly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest amino resin supplier to Belgium, with a 48% share of total imports. Moreover, amino resin imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was taken by Saudi Arabia (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+9.2% per year) and Saudi Arabia (+90.1% per year).

In value terms, Germany ($X) constituted the largest supplier of amino resins to Belgium, comprising 47% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total imports. It was followed by Saudi Arabia, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+11.7% per year) and Saudi Arabia (+107.5% per year).

Import Prices by Country

In 2022, the average amino resin import price amounted to $X per ton, surging by 19% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino resin import price increased by +70.4% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 44%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Spain ($X per ton) and Hungary ($X per ton), while the price for Saudi Arabia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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