Estonia: Alkyd Resins Market 2024

Alkyd Resins Market Size in Estonia

In 2022, the Estonian alkyd resins market decreased by -26.7% to $X, falling for the fourth year in a row after two years of growth. In general, consumption showed a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Alkyd Resins Production in Estonia

In value terms, alkyd resins production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, saw a tangible expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 191%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Alkyd Resins Exports

Exports from Estonia

In 2022, after two years of growth, there was significant decline in overseas shipments of alkyd resins in primary forms, when their volume decreased by -6.5% to X tons. Overall, exports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 121%. Over the period under review, the exports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, alkyd resins exports expanded remarkably to $X in 2022. Over the period under review, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by 120% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Poland (X tons), Belgium (X tons) and Sweden (X tons) were the main destinations of alkyd resins exports from Estonia, together accounting for 96% of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +1,610.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Belgium ($X) and Sweden ($X) appeared to be the largest markets for alkyd resins exported from Estonia worldwide, with a combined 95% share of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +1,464.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average alkyd resins export price amounted to $X per ton, surging by 12% against the previous year. In general, the export price, however, showed a pronounced contraction. The growth pace was the most rapid in 2021 an increase of 14% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Sweden ($X per ton) and Finland ($X per ton), while the average price for exports to Poland ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (-0.7%), while the prices for the other major destinations experienced a decline.

Alkyd Resins Imports

Imports into Estonia

In 2022, imports of alkyd resins in primary forms into Estonia shrank significantly to X tons, with a decrease of -44.7% compared with the previous year's figure. Over the period under review, imports showed a drastic downturn. The pace of growth was the most pronounced in 2015 with an increase of 34% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, alkyd resins imports shrank markedly to $X in 2022. Overall, imports recorded a abrupt contraction. The pace of growth was the most pronounced in 2021 when imports increased by 34%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of alkyd resins to Estonia, accounting for a 41% share of total imports. Moreover, alkyd resins imports from France exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume from France amounted to -11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+7.9% per year) and the Netherlands (-2.1% per year).

In value terms, France ($X) constituted the largest supplier of alkyd resins in primary forms to Estonia, comprising 45% of total imports. The second position in the ranking was held by Poland ($X), with a 20% share of total imports. It was followed by the Netherlands, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+12.9% per year) and the Netherlands (+1.3% per year).

Import Prices by Country

The average alkyd resins import price stood at $X per ton in 2022, picking up by 35% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform