Canada: Resinoids Market 2024

Resinoids Market Size in Canada

The Canadian resinoids market reduced sharply to $X in 2022, dropping by -18.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a deep reduction. Resinoids consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Resinoids Exports

Exports from Canada

In 2022, exports of resinoids from Canada surged to X tons, picking up by 123% on the year before. Over the period under review, exports showed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 568%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, resinoids exports skyrocketed to $X in 2022. In general, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 307%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for resinoids exports from Canada, accounting for a 44% share of total exports. Moreover, resinoids exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), twofold. The UK (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+259.4% per year) and the UK (-5.0% per year).

In value terms, the United States ($X), the United Arab Emirates ($X) and the UK ($X) constituted the largest markets for resinoids exported from Canada worldwide, together comprising 77% of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +217.1%, recorded the highest rates of growth with regard to the value of exports, 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 resinoids export price amounted to $X per ton, picking up by 16% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 93% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($X per ton) and the UK ($X per ton), while the average price for exports to the United States ($X per ton) and Morocco ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Resinoids Imports

Imports into Canada

In 2022, approx. X tons of resinoids were imported into Canada; falling by -15.7% compared with the previous year. Over the period under review, imports saw a abrupt descent. The pace of growth appeared the most rapid in 2017 with an increase of 29%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, resinoids imports shrank dramatically to $X in 2022. Overall, imports saw a deep downturn. The pace of growth appeared the most rapid in 2016 with an increase of 27% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of resinoids to Canada, with a 77% share of total imports. Moreover, resinoids imports from India exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was taken by China (X tons), with a 2.5% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.7% per year) and China (-19.5% per year).

In value terms, India ($X) constituted the largest supplier of resinoids to Canada, comprising 63% of total imports. The second position in the ranking was held by the United States ($X), with a 22% share of total imports. It was followed by China, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value from India totaled -9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.9% per year) and China (-21.4% per year).

Import Prices by Country

In 2022, the average resinoids import price amounted to $X per ton, shrinking by -1.5% against the previous year. Over the period under review, the import price recorded a pronounced curtailment. The growth pace was the most rapid in 2021 an increase of 11% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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