Eastern Asia: Resinoids Market 2024

Resinoids Market Size in Eastern Asia

The East Asian resinoids market fell slightly to $X in 2022, waning by -2.9% against the previous year. Overall, consumption showed a pronounced downturn. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Resinoids Production in Eastern Asia

In value terms, resinoids production fell to $X in 2022 estimated in export price. Overall, production recorded a mild reduction. The most prominent rate of growth was recorded in 2013 when the production volume increased by 47%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Resinoids Exports

Exports in Eastern Asia

In 2022, exports of resinoids in Eastern Asia contracted sharply to X tons, shrinking by -42% compared with 2021 figures. Overall, exports continue to indicate a slight curtailment. The growth pace was the most rapid in 2013 with an increase of 461%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, resinoids exports contracted dramatically to $X in 2022. Over the period under review, exports, however, recorded a moderate increase. The pace of growth appeared the most rapid in 2013 when exports increased by 725%. 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

China dominates exports structure, amounting to X tons, which was approx. 96% of total exports in 2022. The following exporters - Taiwan (Chinese) (X tons) and South Korea (X tons) - each reached a 3.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to resinoids exports from China stood at +1.1%. At the same time, South Korea (+112.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +112.1% from 2012-2022. By contrast, Taiwan (Chinese) (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and South Korea increased by +24 and +1.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest resinoids supplier in Eastern Asia, comprising 96% of total exports. The second position in the ranking was held by South Korea ($X), with a 2.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China totaled +6.6%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+88.1% per year) and Taiwan (Chinese) (+0.1% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, surging by 19% against the previous year. Over the period under review, the export price posted a pronounced increase. The most prominent rate of growth was recorded in 2013 when the export price increased by 47% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.4%), while the other leaders experienced mixed trends in the export price figures.

Resinoids Imports

Imports in Eastern Asia

In 2022, approx. X tons of resinoids were imported in Eastern Asia; surging by 3.5% compared with the previous year's figure. In general, imports, however, continue to indicate a noticeable contraction. The growth pace was the most rapid in 2019 when imports increased by 80% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, resinoids imports shrank notably to $X in 2022. Overall, imports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2019 with an increase of 70%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Hong Kong SAR represented the main importing country with an import of about X tons, which finished at 70% of total imports. Taiwan (Chinese) (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by China (11%). Japan (X tons) held a minor share of total imports.

Hong Kong SAR was also the fastest-growing in terms of the resinoids imports, with a CAGR of -3.2% from 2012 to 2022. Taiwan (Chinese) (-5.0%), China (-5.5%) and Japan (-19.8%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+11 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (-9.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest resinoids importing markets in Eastern Asia were China ($X), Hong Kong SAR ($X) and Japan ($X), with a combined 82% share of total imports.

China, with a CAGR of -3.5%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, shrinking by -20.8% against the previous year. In general, the import price saw a noticeable descent. The pace of growth appeared the most rapid in 2016 when the import price increased by 42%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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