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

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

The Benelux urea and thiourea resins market dropped modestly to $X in 2022, which is down by -2.5% against the previous year. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -31.0% against 2020 indices. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Urea Resins And Thiourea Resins In Primary Forms in Benelux

In value terms, urea and thiourea resins production skyrocketed to $X in 2022 estimated in export price. In general, production, however, continues to indicate a strong increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 30%. The level of production peaked in 2022 and is likely to continue growth in the near future.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports in Benelux

In 2022, after two years of growth, there was significant decline in overseas shipments of urea resins and thiourea resins in primary forms, when their volume decreased by -10.1% to X tons. The total export volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 23% against the previous year. As a result, the exports attained the peak of X tons, and then reduced in the following year.

In value terms, urea and thiourea resins exports skyrocketed to $X in 2022. Overall, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 72%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Belgium represented the largest exporter of urea resins and thiourea resins in primary forms in Benelux, with the volume of exports amounting to X tons, which was near 74% of total exports in 2022. It was distantly followed by the Netherlands (X tons), achieving a 26% share of total exports.

Belgium was also the fastest-growing in terms of the urea resins and thiourea resins in primary forms exports, with a CAGR of +2.7% from 2012 to 2022. At the same time, the Netherlands (+1.2%) displayed positive paces of growth. While the share of Belgium (+3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Netherlands (-3 p.p.) displayed negative dynamics.

In value terms, Belgium ($X) remains the largest urea and thiourea resins supplier in Benelux, comprising 74% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 25% share of total exports.

In Belgium, urea and thiourea resins exports increased at an average annual rate of +8.3% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, rising by 50% against the previous year. Overall, the export price continues to indicate buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.4%).

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports in Benelux

In 2022, purchases abroad of urea resins and thiourea resins in primary forms decreased by -22.2% to X tons, falling for the fifth consecutive year after two years of growth. In general, imports recorded a abrupt setback. The growth pace was the most rapid in 2013 with an increase of 14% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, urea and thiourea resins imports dropped to $X in 2022. Overall, imports saw a deep contraction. The pace of growth appeared the most rapid in 2013 when imports increased by 17% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Netherlands (X tons) and Belgium (X tons) prevails in imports structure, together achieving 97% of total imports. Luxembourg (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of -6.0%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the Netherlands ($X) constitutes the largest market for imported urea resins and thiourea resins in primary forms in Benelux, comprising 71% of total imports. The second position in the ranking was held by Belgium ($X), with a 27% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands amounted to -1.2%. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (-1.7% per year) and Luxembourg (-28.3% per year).

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, rising by 20% against the previous year. In general, the import price showed a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of 87% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform