Finland: Amino Resin Market 2024

Amino Resin Market Size in Finland

The Finnish amino resin market shrank modestly to $X in 2022, which is down by -2.5% against the previous year. In general, consumption saw a pronounced setback. Amino resin consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Amino Resin Production in Finland

In value terms, amino resin production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, faced a abrupt setback. The pace of growth was the most pronounced in 2019 with an increase of 14% against the previous year. Amino resin production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Amino Resin Exports

Exports from Finland

For the fourth consecutive year, Finland recorded decline in shipments abroad of amino resins, which decreased by -36.4% to X tons in 2022. Over the period under review, exports, however, showed resilient growth. The pace of growth was the most pronounced in 2014 when exports increased by 249%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, amino resin exports contracted dramatically to $X in 2022. Overall, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 197% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Estonia (X tons) and Sweden (X tons) were the main destinations of amino resin exports from Finland, with a combined 69% share of total exports. Poland, Germany, Denmark, Lithuania and Latvia lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +145.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and Sweden ($X) appeared to be the largest markets for amino resin exported from Finland worldwide, with a combined 59% share of total exports. Germany, Estonia, Denmark, Lithuania and Latvia lagged somewhat behind, together comprising a further 32%.

Denmark, with a CAGR of +150.3%, saw the highest growth rate of the value of exports, among the main countries of destination 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 amino resin export price amounted to $X per ton, increasing by 23% against the previous year. Overall, the export price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 an increase of 112%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Estonia ($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 Latvia (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Amino Resin Imports

Imports into Finland

In 2022, approx. X tons of amino resins were imported into Finland; shrinking by -11% on the year before. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% 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 +19.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 34%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, amino resin imports shrank modestly to $X in 2022. Overall, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 88% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of amino resin to Finland, accounting for a 43% share of total imports. Moreover, amino resin imports from Germany exceeded the figures recorded by the second-largest supplier, Denmark (X tons), threefold. Iceland (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+15.4% per year) and Iceland (+321.3% per year).

In value terms, Germany ($X) constituted the largest supplier of amino resins to Finland, comprising 39% of total imports. The second position in the ranking was taken by Denmark ($X), with a 14% share of total imports. It was followed by Iceland, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+16.5% per year) and Iceland (+285.3% per year).

Import Prices by Country

The average amino resin import price stood at $X per ton in 2022, rising by 8.1% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino resin import price increased by +51.5% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 40%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Iceland ($X per ton) and the Netherlands ($X per ton), while the price for Poland ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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