Belgium: Resinoids Market 2022

Resinoids Market Size in Belgium

In 2021, the Belgian resinoids market decreased by -31.6% to $X, falling for the fifth year in a row after two years of growth. Overall, consumption continues to indicate a drastic downturn. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Resinoids Production in Belgium

In value terms, resinoids production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable slump. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Resinoids Exports

Exports from Belgium

In 2021, overseas shipments of resinoids increased by 2,847% to X tons, rising for the second year in a row after three years of decline. Overall, exports recorded significant growth. The growth pace was the most rapid in 2020 with an increase of 21,075%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, resinoids exports soared to $X in 2021. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of 8,249% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

France (X tons) was the main destination for resinoids exports from Belgium, accounting for a 89% share of total exports. Moreover, resinoids exports to France exceeded the volume sent to the second major destination, Israel (X tons), more than tenfold. The third position in this ranking was taken by the UK (X tons), with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France amounted to +243.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+18.8% per year) and the UK (+114.4% per year).

In value terms, France ($X) remains the key foreign market for resinoids exports from Belgium, comprising 70% of total exports. The second position in the ranking was held by the UK ($X), with a 14% share of total exports. It was followed by Israel, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value to France stood at +250.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+101.5% per year) and Israel (-21.5% per year).

Export Prices by Country

In 2021, the average resinoids export price amounted to $X per ton, falling by -51.2% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the average export price increased by 175%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to Israel ($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 Algeria (+15.6%), while the prices for the other major destinations experienced a decline.

Resinoids Imports

Imports into Belgium

In 2021, approx. X tons of resinoids were imported into Belgium; with a decrease of -8.7% against the previous year's figure. Over the period under review, imports, however, continue to indicate a pronounced increase. The pace of growth was the most pronounced in 2020 when imports increased by 151% against the previous year. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, resinoids imports surged to $X in 2021. Overall, imports, however, showed perceptible growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Switzerland (X tons) and China (X tons) were the main suppliers of resinoids imports to Belgium, together comprising 70% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +957.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) constituted the largest supplier of resinoids to Belgium, comprising 61% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by the UK, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from Switzerland totaled +109.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+151.7% per year) and the UK (-17.9% per year).

Import Prices by Country

In 2021, the average resinoids import price amounted to $X per ton, growing by 570% against the previous year. In general, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for France ($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 States (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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