Italy: Alkyd Resins Market 2024

Alkyd Resins Market Size in Italy

In 2022, the Italian alkyd resins market decreased by -6.2% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, recorded a abrupt slump. Alkyd resins consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Alkyd Resins Production in Italy

In value terms, alkyd resins production contracted notably to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 when the production volume increased by 61%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Alkyd Resins Exports

Exports from Italy

Alkyd resins exports from Italy shrank to X tons in 2022, reducing by -13.2% compared with the previous year's figure. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 25%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, alkyd resins exports declined slightly to $X in 2022. The total export value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 34%. As a result, the exports reached the peak of $X, and then shrank modestly in the following year.

Exports by Country

Spain (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of alkyd resins exports from Italy, together comprising 43% of total exports. Russia, India, Poland, France, Portugal, Turkey, Romania, the UK, Sweden and Brazil lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +67.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and India ($X) constituted the largest markets for alkyd resins exported from Italy worldwide, with a combined 38% share of total exports. Russia, the Netherlands, Poland, France, Turkey, Portugal, Romania, the UK, Brazil and Sweden lagged somewhat behind, together accounting for a further 40%.

Among the main countries of destination, Romania, with a CAGR of +61.3%, saw 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 alkyd resins export price stood at $X per ton in 2022, growing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2021 when the average export price increased by 24%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the Netherlands ($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 (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into Italy

In 2022, imports of alkyd resins in primary forms into Italy shrank dramatically to X tons, with a decrease of -23.6% compared with 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 9.9% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, alkyd resins imports fell to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 22% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Germany (X tons), the Netherlands (X tons) and the UK (X tons) were the main suppliers of alkyd resins imports to Italy, with a combined 62% share of total imports. Spain, Austria, Greece, India, Portugal, Belgium and France lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +44.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest alkyd resins suppliers to Italy were Germany ($X), the UK ($X) and the Netherlands ($X), with a combined 60% share of total imports. Spain, Austria, Greece, India, Belgium, Portugal and France lagged somewhat behind, together accounting for a further 32%.

Greece, with a CAGR of +47.7%, 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

In 2022, the average alkyd resins import price amounted to $X per ton, with an increase of 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2021 an increase of 22%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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