CIS: Epoxide Resin Market 2024

Epoxide Resin Market Size in CIS

After two years of decline, the CIS epoxide resin market increased by 35% to $X in 2021. The market value increased at an average annual rate of +4.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Epoxide Resin Production in CIS

In value terms, epoxide resin production dropped modestly to $X in 2021 estimated in export price. In general, production recorded a perceptible contraction. The pace of growth appeared the most rapid in 2020 when the production volume increased by 8.6% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Epoxide Resin Exports

Exports in CIS

In 2021, shipments abroad of epoxide resins increased by 28% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports recorded a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, epoxide resin exports skyrocketed to $X in 2021. In general, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia dominates exports structure, finishing at X tons, which was near 94% of total exports in 2021. Belarus (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to epoxide resin exports from Russia stood at +8.0%. At the same time, Belarus (+14.1%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +14.1% from 2012-2021. While the share of Belarus (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Russia (-2.1 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest epoxide resin supplier in the CIS, comprising 93% of total exports. The second position in the ranking was held by Belarus ($X), with a 4.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia totaled +8.9%.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, with an increase of 41% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Belarus amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+7.6%).

Epoxide Resin Imports

Imports in CIS

In 2021, imports of epoxide resins in the CIS skyrocketed to X tons, increasing by 17% compared with the previous year. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, epoxide resin imports skyrocketed to $X in 2021. In general, imports recorded a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia dominates imports structure, resulting at X tons, which was approx. 90% of total imports in 2021. Belarus (X tons), Uzbekistan (X tons) and Kazakhstan (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to epoxide resin imports into Russia stood at +7.3%. At the same time, Uzbekistan (+47.4%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +47.4% from 2012-2021. Kazakhstan experienced a relatively flat trend pattern. By contrast, Belarus (-1.3%) illustrated a downward trend over the same period. While the share of Russia (+3.2 p.p.) and Uzbekistan (+2.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kazakhstan (-1.9 p.p.) and Belarus (-3.8 p.p.) displayed negative dynamics.

In value terms, Russia ($X) constitutes the largest market for imported epoxide resins in the CIS, comprising 89% of total imports. The second position in the ranking was held by Belarus ($X), with a 4.3% share of total imports. It was followed by Kazakhstan, with a 3.3% share.

In Russia, epoxide resin imports increased at an average annual rate of +12.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Belarus (+1.3% per year) and Kazakhstan (+3.7% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per ton, jumping by 52% against the previous year. Import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Kazakhstan ($X per ton) and Belarus ($X per ton), while Uzbekistan ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :