Finland: Melamine Resins Market 2024

Melamine Resins Market Size in Finland

In 2021, after two years of decline, there was significant growth in the Finnish melamine resins market, when its value increased by 1,008% to $X. Overall, consumption showed a slight increase. Melamine resins consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Melamine Resins Production in Finland

In value terms, melamine resins production surged to $X in 2021 estimated in export price. In general, production posted a buoyant expansion. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Melamine Resins Exports

Exports from Finland

In 2021, melamine resins exports from Finland skyrocketed to X tons, with an increase of 47% against the previous year. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 573% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, melamine resins exports skyrocketed to $X in 2021. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 108%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Latvia (X tons) was the main destination for melamine resins exports from Finland, with a 81% share of total exports. Moreover, melamine resins exports to Latvia exceeded the volume sent to the second major destination, Estonia (X tons), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Latvia amounted to +67.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-1.0% per year) and Russia (+37.5% per year).

In value terms, Latvia ($X) remains the key foreign market for melamine resins in primary forms exports from Finland, comprising 57% of total exports. The second position in the ranking was taken by Russia ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Latvia amounted to +60.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+56.4% per year) and Estonia (-0.1% per year).

Export Prices by Country

The average melamine resins export price stood at $X per ton in 2021, picking up by 22% against the previous year. Overall, the export price enjoyed a modest increase. The most prominent rate of growth was recorded in 2019 an increase of 165% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Latvia ($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 Russia (+13.7%), while the prices for the other major destinations experienced mixed trend patterns.

Melamine Resins Imports

Imports into Finland

Melamine resins imports into Finland plummeted to X tons in 2021, reducing by -21.3% compared with the previous year. In general, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2016 with an increase of 44% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, melamine resins imports dropped to $X in 2021. Overall, imports, however, showed a moderate expansion. The pace of growth was the most pronounced in 2016 with an increase of 65% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of melamine resins to Finland, with a 69% share of total imports. Moreover, melamine resins imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was taken by Sweden (X tons), with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium totaled +163.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-13.4% per year) and Sweden (-22.1% per year).

In value terms, Belgium ($X) constituted the largest supplier of melamine resins in primary forms to Finland, comprising 60% of total imports. The second position in the ranking was taken by Germany ($X), with a 22% share of total imports. It was followed by Sweden, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Belgium totaled +125.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.2% per year) and Sweden (-13.0% per year).

Import Prices by Country

In 2021, the average melamine resins import price amounted to $X per ton, jumping by 19% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of 34% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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