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

Market Size for Urea Resins And Thiourea Resins In Primary Forms in the EU

In 2022, the EU urea and thiourea resins market increased by 12% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Urea Resins And Thiourea Resins In Primary Forms in the EU

In value terms, urea and thiourea resins production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports in the EU

Urea and thiourea resins exports fell to X tons in 2022, with a decrease of -12.8% compared with the year before. In general, exports saw a slight decrease. The pace of growth appeared the most rapid in 2015 with an increase of 8.4%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, urea and thiourea resins exports soared to $X in 2022. Total exports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

The biggest shipments were from Poland (X tons), Germany (X tons) and Belgium (X tons), together accounting for 63% of total export. Portugal (X tons) held the next position in the ranking, followed by the Netherlands (X tons) and Romania (X tons). All these countries together held approx. 20% share of total exports. The Czech Republic (X tons) and Slovakia (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +6.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and Belgium ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 62% of total exports. Portugal, the Netherlands, Romania, the Czech Republic and Slovakia lagged somewhat behind, together accounting for a further 23%.

The Czech Republic, with a CAGR of +11.3%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, growing by 43% against the previous year. Export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea and thiourea resins export price increased by +107.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when the export price increased by 46%. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 Germany ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.2%), while the other leaders experienced more modest paces of growth.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports in the EU

Urea and thiourea resins imports shrank to X tons in 2022, waning by -9.9% against the year before. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 14% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, urea and thiourea resins imports skyrocketed to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +108.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 64%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany represented the largest importing country with an import of around X tons, which recorded 36% of total imports. It was distantly followed by France (X tons), Poland (X tons), Austria (X tons), Spain (X tons) and Italy (X tons), together mixing up a 44% share of total imports. Bulgaria (X tons), Hungary (X tons), Lithuania (X tons), Slovakia (X tons), the Czech Republic (X tons) and Romania (X tons) held a minor share of total imports.

Imports into Germany increased at an average annual rate of +3.7% from 2012 to 2022. At the same time, Romania (+23.5%), Lithuania (+14.5%), Poland (+14.0%), Slovakia (+6.4%), Hungary (+1.4%) and Italy (+1.3%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in the European Union, with a CAGR of +23.5% from 2012-2022. Bulgaria experienced a relatively flat trend pattern. By contrast, Spain (-2.8%), the Czech Republic (-2.9%), Austria (-5.2%) and France (-5.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Germany, Poland, Lithuania and Romania increased by +11, +8.9, +1.7 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported urea resins and thiourea resins in primary forms in the European Union, comprising 34% of total imports. The second position in the ranking was held by France ($X), with a 16% share of total imports. It was followed by Poland, with a 9.4% share.

In Germany, urea and thiourea resins imports increased at an average annual rate of +8.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: France (+0.1% per year) and Poland (+15.3% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, jumping by 41% against the previous year. Import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea and thiourea resins import price increased by +102.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 44% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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