China: Epoxide Resin Market 2024

Epoxide Resin Market Size in China

The Chinese epoxide resin market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Epoxide resin consumption peaked at $X in 2018; afterwards, it flattened through to 2021.

Epoxide Resin Production in China

In value terms, epoxide resin production surged to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when the production volume increased by 24% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Epoxide Resin Exports

Exports from China

In 2021, overseas shipments of epoxide resins were finally on the rise to reach X tons after three years of decline. Over the period under review, exports enjoyed resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, epoxide resin exports surged to $X in 2021. Overall, exports enjoyed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), the United Arab Emirates (X tons) and Thailand (X tons) were the main destinations of epoxide resin exports from China, together comprising 33% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +33.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for epoxide resin exported from China were Thailand ($X), Russia ($X) and the United Arab Emirates ($X), together comprising 28% of total exports. South Korea, Italy, Vietnam, the United States, the Netherlands, Germany, Brazil, Israel, Turkey and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 47%.

Israel, with a CAGR of +35.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average epoxide resin export price amounted to $X per ton, with an increase of 24% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 46%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to the United Arab Emirates ($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 Germany (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into China

In 2021, purchases abroad of epoxide resins decreased by -21.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.4% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 40%. As a result, imports reached the peak of X tons, and then declined significantly in the following year.

In value terms, epoxide resin imports skyrocketed to $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.2% against 2016 indices. The pace of growth was the most pronounced in 2020 with an increase of 25% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

Taiwan (Chinese) (X tons), South Korea (X tons) and the United States (X tons) were the main suppliers of epoxide resin imports to China, with a combined 74% share of total imports. Germany, Japan, Thailand and Italy lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +18.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), South Korea ($X) and Japan ($X) appeared to be the largest epoxide resin suppliers to China, together comprising 71% of total imports. These countries were followed by the United States, Germany, Thailand and Italy, which together accounted for a further 24%.

In terms of the main suppliers, Italy, with a CAGR of +19.1%, saw the highest rates of growth with regard to the value of imports, 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, picking up by 50% against the previous year. Overall, the import price continues to indicate a modest increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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