Canada: Epoxide Resin Market 2024

Epoxide Resin Market Size in Canada

The Canadian epoxide resin market soared to $X in 2021, growing by 16% against the previous year. Overall, consumption showed a relatively flat trend pattern. Epoxide resin consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Epoxide Resin Production in Canada

In value terms, epoxide resin production plummeted to $X in 2021 estimated in export price. In general, production showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 41%. Epoxide resin production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Epoxide Resin Exports

Exports from Canada

In 2021, exports of epoxide resins from Canada shrank to X tons, falling by -8.1% against 2020 figures. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 2.6%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

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

Exports by Country

The United States (X tons) was the main destination for epoxide resin exports from Canada, with a 88% share of total exports. Moreover, epoxide resin exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+32.2% per year) and India (-28.0% per year).

In value terms, the United States ($X) remains the key foreign market for epoxide resins exports from Canada, comprising 88% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+30.1% per year) and India (-28.8% per year).

Export Prices by Country

In 2021, the average epoxide resin export price amounted to $X per ton, picking up by 25% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, epoxide resin export price increased by +69.7% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($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 the United States (+3.2%), while the prices for the other major destinations experienced a decline.

Epoxide Resin Imports

Imports into Canada

In 2021, epoxide resin imports into Canada fell to X tons, reducing by -5.6% compared with the year before. Overall, imports saw a noticeable decrease. The pace of growth was the most pronounced in 2018 with an increase of 5.9% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, epoxide resin imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest epoxide resin supplier to Canada, accounting for a 70% share of total imports. Moreover, epoxide resin imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+18.0% per year) and Taiwan (Chinese) (-1.7% per year).

In value terms, the United States ($X) constituted the largest supplier of epoxide resins to Canada, comprising 70% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by China, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+20.8% per year) and China (+9.6% per year).

Import Prices by Country

In 2021, the average epoxide resin import price amounted to $X per ton, growing by 53% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.8%. As a result, import price attained 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 ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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