China: Resinoids Market 2024

Resinoids Market Size in China

In 2022, the Chinese resinoids market increased by 1.7% to $X, rising for the second year in a row after five years of decline. Over the period under review, consumption recorded a measured increase. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Resinoids Production in China

In value terms, resinoids production contracted slightly to $X in 2022 estimated in export price. In general, production, however, posted a measured increase. The pace of growth was the most pronounced in 2013 with an increase of 119%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Resinoids Exports

Exports from China

In 2022, approx. X tons of resinoids were exported from China; waning by -43.1% compared with 2021 figures. Overall, exports, however, continue to indicate a slight expansion. The pace of growth was the most pronounced in 2013 with an increase of 651%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, resinoids exports plummeted to $X in 2022. Over the period under review, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,103%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Haiti (X tons) and Thailand (X tons) were the main destinations of resinoids exports from China, with a combined 61% share of total exports. Mauritania, Senegal, Jamaica, Nigeria, the Philippines, Ghana, Indonesia, Japan, Vietnam and Canada lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +97.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for resinoids exported from China were the United Arab Emirates ($X), Haiti ($X) and Thailand ($X), together accounting for 52% of total exports. Jamaica, Nigeria, Japan, Senegal, Mauritania, the Philippines, Ghana, Indonesia, Vietnam and Canada lagged somewhat behind, together accounting for a further 29%.

Among the main countries of destination, Indonesia, with a CAGR of +102.0%, recorded the highest growth rate of 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

The average resinoids export price stood at $X per ton in 2022, picking up by 20% against the previous year. Overall, the export price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2013 an increase of 60% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+43.0%), while the prices for the other major destinations experienced more modest paces of growth.

Resinoids Imports

Imports into China

In 2022, the amount of resinoids imported into China fell markedly to X tons, declining by -68.9% against the year before. Over the period under review, imports recorded a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 82% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, resinoids imports plummeted to $X in 2022. Overall, imports showed a perceptible slump. The most prominent rate of growth was recorded in 2019 when imports increased by 134% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Germany (X tons), the UK (X tons) and France (X tons) were the main suppliers of resinoids imports to China, together accounting for 70% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +32.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of resinoids to China, comprising 57% of total imports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total imports. It was followed by the UK, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from France totaled -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+30.8% per year) and the UK (+14.1% per year).

Import Prices by Country

The average resinoids import price stood at $X per ton in 2022, surging by 102% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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