Greece: Amino Resin Market 2024

Amino Resin Market Size in Greece

After two years of growth, the Greek amino resin market decreased by -7.7% to $X in 2022. Overall, consumption, however, saw buoyant growth. Amino resin consumption peaked at $X in 2021, and then dropped in the following year.

Amino Resin Exports

Exports from Greece

In 2022, shipments abroad of amino resins increased by 11% to X tons, rising for the third year in a row after two years of decline. In general, exports recorded a prominent expansion. The growth pace was the most rapid in 2015 with an increase of 282% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, amino resin exports shrank sharply to $X in 2022. Overall, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by 197%. The exports peaked at $X in 2021, and then fell notably in the following year.

Exports by Country

Albania (X tons) was the main destination for amino resin exports from Greece, accounting for a 46% share of total exports. Moreover, amino resin exports to Albania exceeded the volume sent to the second major destination, Bulgaria (X tons), threefold. The third position in this ranking was taken by Romania (X tons), with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Albania totaled +30.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+2.4% per year) and Romania (+12.1% per year).

In value terms, Albania ($X) remains the key foreign market for amino resins exports from Greece, comprising 35% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 16% share of total exports. It was followed by India, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value to Albania amounted to +31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+5.3% per year) and India (+27.1% per year).

Export Prices by Country

In 2022, the average amino resin export price amounted to $X per ton, waning by -25.4% against the previous year. In general, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. 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 42% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then fell remarkably in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to North Macedonia ($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 India (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Amino Resin Imports

Imports into Greece

In 2022, overseas purchases of amino resins decreased by -7.8% to X tons for the first time since 2011, thus ending a ten-year rising trend. In general, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 25% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, amino resin imports shrank modestly to $X in 2022. Over the period under review, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 85% against the previous year. As a result, imports reached the peak of $X, and then reduced modestly in the following year.

Imports by Country

Belgium (X tons), South Korea (X tons) and Hungary (X tons) were the main suppliers of amino resin imports to Greece, together comprising 62% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +112.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest amino resin suppliers to Greece were Belgium ($X), South Korea ($X) and the Netherlands ($X), with a combined 59% share of total imports.

South Korea, with a CAGR of +106.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average amino resin import price stood at $X per ton in 2022, growing by 3.6% against the previous year. In general, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% 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 +87.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 81%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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