Eastern Asia: Alkyd Resins Market 2024

Alkyd Resins Market Size in Eastern Asia

The East Asian alkyd resins market contracted slightly to $X in 2022, which is down by -3.8% against the previous year. Overall, consumption recorded a mild slump. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Alkyd Resins Production in Eastern Asia

In value terms, alkyd resins production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a slight decline. The growth pace was the most rapid in 2018 with an increase of 13% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Alkyd Resins Exports

Exports in Eastern Asia

Alkyd resins exports contracted to X tons in 2022, waning by -9.2% compared with the year before. Over the period under review, exports continue to indicate a mild contraction. The pace of growth was the most pronounced in 2021 with an increase of 42%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, alkyd resins exports dropped to $X in 2022. Overall, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 58%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Taiwan (Chinese) (X tons) represented the main exporter of alkyd resins in primary forms, achieving 73% of total exports. It was distantly followed by China (X tons) and Japan (X tons), together constituting a 24% share of total exports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to alkyd resins exports from Taiwan (Chinese) stood at -1.9%. At the same time, China (+17.6%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +17.6% from 2012-2022. By contrast, Japan (-6.3%) and South Korea (-13.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +16 percentage points.

In value terms, Taiwan (Chinese) ($X) remains the largest alkyd resins supplier in Eastern Asia, comprising 66% of total exports. The second position in the ranking was held by China ($X), with a 21% share of total exports. It was followed by Japan, with an 8.5% share.

In Taiwan (Chinese), alkyd resins exports decreased by an average annual rate of -2.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+16.4% per year) and Japan (-7.2% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the export price, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2021 when the export price increased by 12% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.6%), while the other leaders experienced a decline in the export price figures.

Alkyd Resins Imports

Imports in Eastern Asia

In 2022, approx. X tons of alkyd resins in primary forms were imported in Eastern Asia; reducing by -32.3% compared with the year before. Over the period under review, imports saw a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, alkyd resins imports contracted to $X in 2022. Overall, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China was the main importing country with an import of about X tons, which amounted to 71% of total imports. It was distantly followed by Japan (X tons), Hong Kong SAR (X tons) and South Korea (X tons), together mixing up a 25% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to alkyd resins imports into China stood at -7.9%. At the same time, Japan (+3.8%) and Taiwan (Chinese) (+1.0%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +3.8% from 2012-2022. By contrast, Hong Kong SAR (-11.1%) and South Korea (-16.1%) illustrated a downward trend over the same period. While the share of Japan (+8.6 p.p.) and Taiwan (Chinese) (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-3.2 p.p.) and South Korea (-7.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported alkyd resins in primary forms in Eastern Asia, comprising 76% of total imports. The second position in the ranking was held by Japan ($X), with a 10% share of total imports. It was followed by South Korea, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled -7.4%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+0.5% per year) and South Korea (-18.3% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, with an increase of 27% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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