Israel: Epoxide Resin Market 2024

Epoxide Resin Market Size in Israel

In 2021, the Israeli epoxide resin market increased by 4.4% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Epoxide resin consumption peaked in 2021 and is likely to see gradual growth in years to come.

Epoxide Resin Production in Israel

In value terms, epoxide resin production fell significantly to $X in 2021 estimated in export price. Overall, production, however, showed a measured increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 246% against the previous year. Epoxide resin production peaked at $X in 2020, and then declined rapidly in the following year.

Epoxide Resin Exports

Exports from Israel

In 2021, shipments abroad of epoxide resins decreased by -3.6% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 1,065% against the previous year. The exports peaked at X tons in 2020, and then fell modestly in the following year.

In value terms, epoxide resin exports surged to $X in 2021. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 1,249%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

China (X tons) was the main destination for epoxide resin exports from Israel, with a 60% share of total exports. Moreover, epoxide resin exports to China exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Belgium (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +82.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+31.1% per year) and Belgium (+112.4% per year).

In value terms, China ($X) remains the key foreign market for epoxide resins exports from Israel, comprising 60% of total exports. The second position in the ranking was held by the United States ($X), with a 22% share of total exports. It was followed by Belgium, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +86.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+34.2% per year) and Belgium (+117.3% per year).

Export Prices by Country

In 2021, the average epoxide resin export price amounted to $X per ton, jumping by 26% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2017 when the average export price increased by 27% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and Japan ($X per ton), while the average price for exports to China ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into Israel

In 2021, supplies from abroad of epoxide resins decreased by -0.8% to X tons, falling for the fourth consecutive year after two years of growth. Overall, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 38% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, epoxide resin imports surged to $X in 2021. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +36.8% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 36%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X tons), South Korea (X tons) and Germany (X tons) were the main suppliers of epoxide resin imports to Israel, together accounting for 84% of total imports. The United States, India, Switzerland, Spain and Japan lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +51.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Germany ($X) appeared to be the largest epoxide resin suppliers to Israel, together comprising 84% of total imports. These countries were followed by the United States, India, Switzerland, Spain and Japan, which together accounted for a further 11%.

India, with a CAGR of +56.2%, recorded the highest growth rate of the value of imports, in terms of 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 epoxide resin import price stood at $X per ton in 2021, growing by 35% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per ton) and India ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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