Greece: Melamine Resins Market 2024

Melamine Resins Market Size in Greece

In 2021, the Greek melamine resins market increased by 42% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a pronounced increase. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Melamine Resins Exports

Exports from Greece

In 2021, the amount of melamine resins in primary forms exported from Greece contracted dramatically to X tons, reducing by -78.2% against the year before. Over the period under review, exports saw a precipitous decrease. The growth pace was the most rapid in 2020 with an increase of 460%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, melamine resins exports fell dramatically to $X in 2021. Overall, exports faced a abrupt decline. The pace of growth appeared the most rapid in 2020 with an increase of 533% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Serbia (X tons), North Macedonia (X tons) and Cyprus (X kg) were the main destinations of melamine resins exports from Greece, together comprising 95% of total exports.

From 2012 to 2021, the biggest increases were recorded for North Macedonia (with a CAGR of +12.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for melamine resins exported from Greece were Serbia ($X), North Macedonia ($X) and Cyprus ($X), together accounting for 93% of total exports.

In terms of the main countries of destination, Cyprus, with a CAGR of +27.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average melamine resins export price stood at $X per ton in 2021, declining by -16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2013 when the average export price increased by 28% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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 Albania ($X per ton), while the average price for exports to Serbia ($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 Turkey (+67.2%), while the prices for the other major destinations experienced more modest paces of growth.

Melamine Resins Imports

Imports into Greece

In 2021, after two years of decline, there was significant growth in supplies from abroad of melamine resins in primary forms, when their volume increased by 24% to X tons. Over the period under review, imports continue to indicate measured growth. The pace of growth appeared the most rapid in 2018 with an increase of 133%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, melamine resins imports soared to $X in 2021. In general, total imports indicated moderate 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, imports decreased by -37.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 70% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of melamine resins to Greece, with a 49% share of total imports. Moreover, melamine resins imports from Turkey exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Romania (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.5% per year) and Romania (+12.8% per year).

In value terms, Germany ($X), Turkey ($X) and Romania ($X) constituted the largest melamine resins suppliers to Greece, together accounting for 68% of total imports. These countries were followed by Italy, Norway and Sweden, which together accounted for a further 31%.

Among the main suppliers, Italy, with a CAGR of +31.4%, recorded the highest growth rate of 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 melamine resins import price amounted to $X per ton, growing by 23% against the previous year. Overall, the import price, however, continues to indicate a noticeable decline. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 Italy ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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