CIS: Alkyd Resins Market 2024

Alkyd Resins Market Size in CIS

The CIS alkyd resins market shrank to $X in 2022, dropping by -4.7% against the previous year. Overall, consumption saw a perceptible contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Alkyd Resins Production in CIS

In value terms, alkyd resins production dropped to $X in 2022 estimated in export price. In general, production recorded a perceptible descent. The pace of growth was the most pronounced in 2017 when the production volume increased by 13%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Alkyd Resins Exports

Exports in CIS

After three years of decline, shipments abroad of alkyd resins in primary forms increased by 7.6% to X tons in 2022. Overall, exports, however, recorded a slight decrease. The growth pace was the most rapid in 2018 with an increase of 13%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, alkyd resins exports declined to $X in 2022. In general, exports, however, saw a noticeable decline. The growth pace was the most rapid in 2021 when exports increased by 18% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Belarus was the main exporter of alkyd resins in primary forms in the CIS, with the volume of exports recording X tons, which was near 85% of total exports in 2022. It was distantly followed by Russia (X tons), creating a 12% share of total exports. Kazakhstan (X tons) followed a long way behind the leaders.

Exports from Belarus decreased at an average annual rate of -2.4% from 2012 to 2022. At the same time, Kazakhstan (+73.3%) and Russia (+5.3%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +73.3% from 2012-2022. From 2012 to 2022, the share of Russia and Kazakhstan increased by +6 and +1.7 percentage points, respectively.

In value terms, Belarus ($X) remains the largest alkyd resins supplier in the CIS, comprising 83% of total exports. The second position in the ranking was taken by Russia ($X), with a 14% share of total exports.

In Belarus, alkyd resins exports plunged by an average annual rate of -5.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+1.9% per year) and Kazakhstan (+59.4% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, which is down by -12.2% against the previous year. Overall, the export price showed a pronounced descent. The pace of growth appeared the most rapid in 2021 when the export price increased by 32% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (-2.6%), while the other leaders experienced a decline in the export price figures.

Alkyd Resins Imports

Imports in CIS

In 2022, the amount of alkyd resins in primary forms imported in the CIS rose slightly to X tons, with an increase of 4% on 2021 figures. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 31% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, alkyd resins imports reduced to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 45%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Russia was the largest importer of alkyd resins in primary forms in the CIS, with the volume of imports reaching X tons, which was near 65% of total imports in 2022. It was distantly followed by Uzbekistan (X tons), Belarus (X tons) and Azerbaijan (X tons), together constituting a 32% share of total imports.

Imports into Russia decreased at an average annual rate of -3.0% from 2012 to 2022. At the same time, Azerbaijan (+44.0%), Belarus (+8.8%) and Uzbekistan (+4.5%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +44.0% from 2012-2022. Uzbekistan (+17 p.p.), Azerbaijan (+6.2 p.p.) and Belarus (+4.7 p.p.) significantly strengthened its position in terms of the total imports, while Russia saw its share reduced by -21.5% from 2012 to 2022, respectively.

In value terms, Russia ($X) constitutes the largest market for imported alkyd resins in primary forms in the CIS, comprising 61% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with an 18% share of total imports. It was followed by Belarus, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Russia totaled -3.4%. In the other countries, the average annual rates were as follows: Uzbekistan (+8.4% per year) and Belarus (+6.5% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, dropping by -5% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 32% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell slightly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Belarus ($X per ton) and Azerbaijan ($X per ton), while Russia ($X per ton) and Uzbekistan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+3.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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