Eastern Asia: Melamine Resins Market 2024

Melamine Resins Market Size in Eastern Asia

In 2021, the East Asian melamine resins market increased by 1.2% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, saw a mild slump. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Melamine Resins Production in Eastern Asia

In value terms, melamine resins production totaled $X in 2021 estimated in export price. In general, production, however, saw a mild decline. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Melamine Resins Exports

Exports in Eastern Asia

In 2021, the amount of melamine resins in primary forms exported in Eastern Asia surged to X tons, picking up by 22% against the year before. The total export volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, melamine resins exports soared to $X in 2021. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporter of melamine resins in primary forms in Eastern Asia, with the volume of exports recording X tons, which was near 63% of total exports in 2021. Taiwan (Chinese) (X tons) held a 19% share (based on physical terms) of total exports, which put it in second place, followed by Japan (16%). South Korea (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the melamine resins in primary forms exports, with a CAGR of +7.9% from 2012 to 2021. At the same time, Japan (+3.3%) and Taiwan (Chinese) (+2.7%) displayed positive paces of growth. By contrast, South Korea (-7.9%) illustrated a downward trend over the same period. While the share of China (+13 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-2.7 p.p.), South Korea (-3.7 p.p.) and Taiwan (Chinese) (-4.4 p.p.) displayed negative dynamics.

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2021, with a combined 97% share of total exports.

China, with a CAGR of +9.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 17% against the previous year. In general, the export price, however, saw a slight decrease. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.8%), while the other leaders experienced more modest paces of growth.

Melamine Resins Imports

Imports in Eastern Asia

In 2021, overseas purchases of melamine resins in primary forms increased by 7.7% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, imports, however, showed a slight setback. The growth pace was the most rapid in 2016 when imports increased by 30% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, melamine resins imports skyrocketed to $X in 2021. Overall, imports, however, recorded a noticeable decrease. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons) and South Korea (X tons) represented roughly 80% of total imports in 2021. Japan (X tons) took the next position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together took near 20% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Japan (with a CAGR of +3.7%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest melamine resins importing markets in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), together comprising 90% of total imports.

Japan, with a CAGR of +2.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, picking up by 12% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 21% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and Japan ($X per ton), while South Korea ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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