India: Amino Resin Market 2024

Amino Resin Market Size in India

For the ninth year in a row, the Indian amino resin market recorded growth in sales value, which increased by 2.1% to $X in 2022. In general, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +80.2% against 2013 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Amino Resin Production in India

In value terms, amino resin production stood at $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 26%. Amino resin production peaked at $X in 2020; afterwards, it flattened through to 2022.

Amino Resin Exports

Exports from India

In 2022, exports of amino resins from India surged to X tons, with an increase of 22% against 2021. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 184%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, amino resin exports skyrocketed to $X in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 458% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X tons), Bangladesh (X tons) and Qatar (X tons) were the main destinations of amino resin exports from India, with a combined 83% share of total exports. The Netherlands, Nepal, Turkey, Sri Lanka, Iraq and the United States lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +185.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for amino resins exports from India, comprising 56% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 15% share of total exports. It was followed by Bangladesh, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled +52.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+254.3% per year) and Bangladesh (+62.7% per year).

Export Prices by Country

In 2022, the average amino resin export price amounted to $X per ton, picking up by 11% against the previous year. In general, the export price, however, continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2014 an increase of 146% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 the Netherlands ($X per ton), while the average price for exports to Bangladesh ($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 the Netherlands (+24.2%), while the prices for the other major destinations experienced more modest paces of growth.

Amino Resin Imports

Imports into India

Amino resin imports into India rose significantly to X tons in 2022, picking up by 6.9% compared with the previous year's figure. Over the period under review, imports posted a significant expansion. The growth pace was the most rapid in 2013 when imports increased by 148%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, amino resin imports expanded notably to $X in 2022. Overall, imports recorded a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 115%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), South Korea (X tons) and Saudi Arabia (X tons) were the main suppliers of amino resin imports to India, together comprising 78% of total imports. Japan, the Netherlands, Belgium and the United States lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +67.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest amino resin suppliers to India were China ($X), South Korea ($X) and Saudi Arabia ($X), together accounting for 78% of total imports. Japan, the Netherlands, Belgium and the United States lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Belgium, with a CAGR of +66.8%, saw 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

The average amino resin import price stood at $X per ton in 2022, rising by 7.1% against the previous year. In general, the import price, however, saw a pronounced setback. The pace of growth was the most pronounced in 2017 an increase of 62% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+12.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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