Egypt: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Egypt

The Egyptian urea and thiourea resins market reached $X in 2022, remaining constant against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Urea Resins And Thiourea Resins In Primary Forms in Egypt

In value terms, urea and thiourea resins production totaled $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 16%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from Egypt

In 2022, shipments abroad of urea resins and thiourea resins in primary forms increased by 4.2% to X tons, rising for the second year in a row after two years of decline. In general, exports showed a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 87%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, urea and thiourea resins exports skyrocketed to $X in 2022. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 84% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Algeria (X tons) was the main destination for urea and thiourea resins exports from Egypt, with a 39% share of total exports. Moreover, urea and thiourea resins exports to Algeria exceeded the volume sent to the second major destination, Turkey (X tons), twofold. Guatemala (X tons) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Algeria amounted to +43.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+14.8% per year) and Guatemala (+3.3% per year).

In value terms, Algeria ($X) remains the key foreign market for urea resins and thiourea resins in primary forms exports from Egypt, comprising 39% of total exports. The second position in the ranking was held by Turkey ($X), with a 17% share of total exports. It was followed by Guatemala, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Algeria amounted to +43.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+15.1% per year) and Guatemala (+3.6% per year).

Export Prices by Country

In 2022, the average urea and thiourea resins export price amounted to $X per ton, surging by 22% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 62%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into Egypt

In 2022, urea and thiourea resins imports into Egypt dropped notably to X tons, with a decrease of -25% on 2021 figures. Over the period under review, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 191% against the previous year. As a result, imports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, urea and thiourea resins imports contracted to $X in 2022. In general, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 196%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

Italy (X tons), China (X tons) and Saudi Arabia (X tons) were the main suppliers of urea and thiourea resins imports to Egypt, together accounting for 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +200.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and Saudi Arabia ($X) appeared to be the largest urea and thiourea resins suppliers to Egypt, with a combined 90% share of total imports.

In terms of the main suppliers, Saudi Arabia, with a CAGR of +254.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average urea and thiourea resins import price amounted to $X per ton, picking up by 21% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 29% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Saudi Arabia ($X per ton), while the price for Italy ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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