Israel: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in Israel

The Israeli urea and thiourea resins market shrank slightly to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, consumption saw a noticeable reduction. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Production of Urea Resins And Thiourea Resins In Primary Forms in Israel

In value terms, urea and thiourea resins production totaled $X in 2022 estimated in export price. In general, production recorded a perceptible curtailment. The pace of growth was the most pronounced in 2017 when the production volume increased by 75% against the previous year. Urea and thiourea resins production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from Israel

In 2022, approx. X tons of urea resins and thiourea resins in primary forms were exported from Israel; increasing by 7.9% against the previous year. Overall, exports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 1,675%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, urea and thiourea resins exports soared to $X in 2022. Over the period under review, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 1,125% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for urea and thiourea resins exports from Israel, accounting for a 52% share of total exports. Moreover, urea and thiourea resins exports to Germany exceeded the volume sent to the second major destination, Bulgaria (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +56.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+43.1% per year) and Vietnam (-8.0% per year).

In value terms, Germany ($X) remains the key foreign market for urea resins and thiourea resins in primary forms exports from Israel, comprising 52% of total exports. The second position in the ranking was taken by Bulgaria ($X), with an 18% share of total exports. It was followed by Vietnam, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +71.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+54.0% per year) and Vietnam (+0.7% per year).

Export Prices by Country

The average urea and thiourea resins export price stood at $X per ton in 2022, rising by 13% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 83% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Vietnam ($X per ton) and Bulgaria ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into Israel

In 2022, the amount of urea resins and thiourea resins in primary forms imported into Israel contracted sharply to X tons, waning by -26.8% on the previous year. Over the period under review, imports, however, showed resilient growth. The pace of growth was the most pronounced in 2016 when imports increased by 209%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, urea and thiourea resins imports shrank to $X in 2022. Overall, imports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 196% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Turkey (X tons) and the UK (X tons) were the main suppliers of urea and thiourea resins imports to Israel, together comprising 92% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +39.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and the UK ($X) were the largest urea and thiourea resins suppliers to Israel, with a combined 92% share of total imports.

Turkey, with a CAGR of +48.4%, recorded the highest growth rate of 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 urea and thiourea resins import price stood at $X per ton in 2022, picking up by 21% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 27%. The import price peaked in 2022 and is expected to retain 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 China ($X per ton) and Turkey ($X per ton), while the price for the United States ($X per ton) and Italy ($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 (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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