Eastern Europe: Resinoids Market 2024

Resinoids Market Size in Eastern Europe

The East European resinoids market declined to $X in 2022, reducing by -7.4% against the previous year. Over the period under review, consumption showed a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Resinoids Production in Eastern Europe

In value terms, resinoids production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2013 with an increase of 19%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Resinoids Exports

Exports in Eastern Europe

After two years of growth, shipments abroad of resinoids decreased by -22.8% to X tons in 2022. Overall, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 192% against the previous year. The volume of export peaked at X tons in 2021, and then reduced sharply in the following year.

In value terms, resinoids exports surged to $X in 2022. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2018 when exports increased by 1,040% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons) and Hungary (X tons) dominates exports structure, together making up 77% of total exports. It was distantly followed by Slovakia (X tons), generating a 7.6% share of total exports. The Czech Republic (X kg), Russia (X kg), Lithuania (X kg) and Bulgaria (X kg) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +46.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X) emerged as the largest resinoids supplier in Eastern Europe, comprising 51% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 20% share of total exports. It was followed by Slovakia, with a 14% share.

In Hungary, resinoids exports expanded at an average annual rate of +36.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bulgaria (+59.7% per year) and Slovakia (+31.1% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, picking up by 254% against the previous year. Overall, the export price recorded strong growth. The most prominent rate of growth was recorded in 2018 when the export price increased by 291%. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 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 Bulgaria ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+31.5%), while the other leaders experienced more modest paces of growth.

Resinoids Imports

Imports in Eastern Europe

In 2022, after two years of growth, there was significant decline in overseas purchases of resinoids, when their volume decreased by -49.6% to X tons. In general, imports, however, continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 231%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, resinoids imports reduced notably to $X in 2022. Over the period under review, imports showed a perceptible slump. The pace of growth was the most pronounced in 2018 when imports increased by 115% against the previous year. The level of import peaked at $X in 2021, and then fell significantly in the following year.

Imports by Country

The Czech Republic prevails in imports structure, reaching X tons, which was approx. 77% of total imports in 2022. Romania (X tons) held the second position in the ranking, followed by Slovakia (X tons). All these countries together took approx. 12% share of total imports. Lithuania (X tons), Hungary (X tons) and Latvia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to resinoids imports into the Czech Republic stood at +1.5%. At the same time, Romania (+24.2%), Latvia (+15.2%) and Slovakia (+5.5%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +24.2% from 2012-2022. By contrast, Lithuania (-1.7%) and Hungary (-10.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Romania, the Czech Republic and Slovakia increased by +5.9, +1.9 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Czech Republic ($X) constitutes the largest market for imported resinoids in Eastern Europe, comprising 57% of total imports. The second position in the ranking was held by Hungary ($X), with a 19% share of total imports. It was followed by Slovakia, with a 9.2% share.

In the Czech Republic, resinoids imports shrank by an average annual rate of -4.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Hungary (-0.9% per year) and Slovakia (+11.4% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, dropping by -35.2% against the previous year. In general, the import price showed a perceptible reduction. The pace of growth appeared the most rapid in 2014 when the import price increased by 52%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+10.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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