Finland: Epoxide Resin Market 2024

Epoxide Resin Market Size in Finland

In 2021, the Finnish epoxide resin market increased by 60% to $X, rising for the second year in a row after two years of decline. Overall, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +109.8% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Epoxide Resin Production in Finland

In value terms, epoxide resin production skyrocketed to $X in 2021 estimated in export price. In general, production, however, saw a deep setback. The growth pace was the most rapid in 2017 with an increase of 129% against the previous year. Epoxide resin production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Epoxide Resin Exports

Exports from Finland

In 2021, shipments abroad of epoxide resins increased by 129% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports posted a prominent increase. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, epoxide resin exports skyrocketed to $X in 2021. Overall, exports continue to indicate a tangible increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), Sweden (X tons) and Poland (X tons) were the main destinations of epoxide resin exports from Finland, with a combined 75% share of total exports. These countries were followed by Norway, the UK, Estonia and Lithuania, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +128.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for epoxide resins exports from Finland, comprising 36% of total exports. The second position in the ranking was held by Poland ($X), with a 15% share of total exports. It was followed by Sweden, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+8.4% per year) and Sweden (-2.4% per year).

Export Prices by Country

The average epoxide resin export price stood at $X per ton in 2021, which is down by -12.7% against the previous year. In general, the export price showed a perceptible setback. The most prominent rate of growth was recorded in 2020 an increase of 39%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+1.6%), while the prices for the other major destinations experienced mixed trend patterns.

Epoxide Resin Imports

Imports into Finland

In 2021, supplies from abroad of epoxide resins increased by 32% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 42% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, epoxide resin imports skyrocketed to $X in 2021. Over the period under review, imports showed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Spain (X tons) and the Netherlands (X tons) were the main suppliers of epoxide resin imports to Finland, with a combined 60% share of total imports. These countries were followed by Poland, the Czech Republic, South Korea and Norway, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +21.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest epoxide resin suppliers to Finland were Germany ($X), Spain ($X) and the Netherlands ($X), with a combined 62% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +16.0%, recorded the highest rates of growth with regard to 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 2021, the average epoxide resin import price amounted to $X per ton, rising by 52% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 Germany ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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