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

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

In 2022, the Italian urea and thiourea resins market increased by 37% to $X, rising for the second year in a row after two years of decline. In general, consumption saw a slight setback. Urea and thiourea resins consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, urea and thiourea resins production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild descent. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from Italy

In 2022, shipments abroad of urea resins and thiourea resins in primary forms decreased by -36.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 5.9% against the previous year. Over the period under review, the exports attained the maximum 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 shrank notably to $X in 2022. Overall, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 12%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Egypt (X tons) was the main destination for urea and thiourea resins exports from Italy, accounting for a 17% share of total exports. Moreover, urea and thiourea resins exports to Egypt exceeded the volume sent to the second major destination, the Czech Republic (X tons), threefold. Turkey (X tons) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Egypt totaled +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+31.5% per year) and Turkey (+4.7% per year).

In value terms, Egypt ($X) remains the key foreign market for urea resins and thiourea resins in primary forms exports from Italy, comprising 18% of total exports. The second position in the ranking was taken by Turkey ($X), with a 5.5% share of total exports. It was followed by India, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value to Egypt stood at +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+5.7% per year) and India (+54.7% per year).

Export Prices by Country

In 2022, the average urea and thiourea resins export price amounted to $X per ton, rising by 28% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea and thiourea resins export price increased by +72.6% against 2015 indices. The growth pace was the most rapid in 2013 an increase of 44% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to the Czech Republic ($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 Slovenia (+8.8%), 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 Italy

In 2022, approx. X tons of urea resins and thiourea resins in primary forms were imported into Italy; rising by 1.8% against 2021 figures. Over the period under review, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +19.9% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 23% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, urea and thiourea resins imports skyrocketed to $X in 2022. In general, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 66% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Germany (X tons) constituted the largest urea and thiourea resins supplier to Italy, with a 59% share of total imports. Moreover, urea and thiourea resins imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X tons), threefold. The third position in this ranking was held by Turkey (X tons), with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+2.5% per year) and Turkey (+32.8% per year).

In value terms, Germany ($X) constituted the largest supplier of urea resins and thiourea resins in primary forms to Italy, comprising 60% of total imports. The second position in the ranking was held by Austria ($X), with a 17% share of total imports. It was followed by Spain, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+7.7% per year) and Spain (+3.5% per year).

Import Prices by Country

In 2022, the average urea and thiourea resins import price amounted to $X per ton, increasing by 50% against the previous year. Overall, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea and thiourea resins import price increased by +104.0% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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