Brazil: Epoxide Resin Market 2024

Epoxide Resin Market Size in Brazil

In 2021, the Brazilian epoxide resin market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Epoxide resin consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Epoxide Resin Production in Brazil

In value terms, epoxide resin production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 13% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Epoxide Resin Exports

Exports from Brazil

In 2021, overseas shipments of epoxide resins were finally on the rise to reach X tons after two years of decline. Overall, exports, however, saw a abrupt decrease. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, epoxide resin exports skyrocketed to $X in 2021. In general, exports, however, saw a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Argentina (X tons) was the main destination for epoxide resin exports from Brazil, accounting for a 73% share of total exports. Moreover, epoxide resin exports to Argentina exceeded the volume sent to the second major destination, Chile (X tons), ninefold. The United States (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to Argentina amounted to -5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-6.7% per year) and the United States (+9.8% per year).

In value terms, Argentina ($X) remains the key foreign market for epoxide resins exports from Brazil, comprising 58% of total exports. The second position in the ranking was held by Chile ($X), with a 13% share of total exports. It was followed by the United States, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to Argentina amounted to -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-2.4% per year) and the United States (+3.6% per year).

Export Prices by Country

In 2021, the average epoxide resin export price amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Argentina ($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 Chile (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into Brazil

In 2021, supplies from abroad of epoxide resins increased by 34% to X tons, rising for the fourth year in a row after four years of decline. In general, imports saw a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, epoxide resin imports surged to $X in 2021. Overall, imports recorded moderate growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Taiwan (Chinese) (X tons), the United States (X tons) and South Korea (X tons) were the main suppliers of epoxide resin imports to Brazil, together accounting for 62% of total imports. Italy, China, Germany, Spain and Mexico lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +37.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), the United States ($X) and Italy ($X) appeared to be the largest epoxide resin suppliers to Brazil, with a combined 60% share of total imports. These countries were followed by South Korea, China, Germany, Spain and Mexico, which together accounted for a further 33%.

Spain, with a CAGR of +27.4%, recorded the highest growth rate of the value of imports, among 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 epoxide resin import price stood at $X per ton in 2021, jumping by 42% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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