Jordan: Alkyd Resins Market 2024

Alkyd Resins Market Size in Jordan

The Jordanian alkyd resins market was estimated at $X in 2022, picking up by 6.9% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +81.8% against 2012 indices. Alkyd resins consumption peaked in 2022 and is likely to continue growth in the near future.

Alkyd Resins Production in Jordan

In value terms, alkyd resins production rose significantly to $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.5% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 57% against the previous year. Alkyd resins production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Alkyd Resins Exports

Exports from Jordan

In 2022, the amount of alkyd resins in primary forms exported from Jordan dropped markedly to X tons, reducing by -27.3% on the previous year's figure. In general, exports saw a noticeable reduction. The pace of growth was the most pronounced in 2015 with an increase of 195% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, alkyd resins exports contracted to $X in 2022. Over the period under review, exports, however, showed a pronounced expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 177%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Egypt (X tons) were the main destinations of alkyd resins exports from Jordan, together comprising 94% of total exports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +32.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Egypt ($X) appeared to be the largest markets for alkyd resins exported from Jordan worldwide, with a combined 94% share of total exports.

Among the main countries of destination, Saudi Arabia, with a CAGR of +39.7%, saw the highest growth rate of 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

In 2022, the average alkyd resins export price amounted to $X per ton, with an increase of 35% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, alkyd resins export price increased by +107.8% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 62%. The export price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to Syrian Arab Republic ($X per ton) and Egypt ($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 Egypt (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into Jordan

In 2022, approx. X tons of alkyd resins in primary forms were imported into Jordan; reducing by -6.8% against the year before. Overall, imports continue to indicate a perceptible decrease. The growth pace was the most rapid in 2021 when imports increased by 42% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, alkyd resins imports expanded slightly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 59% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and Egypt (X tons) were the main suppliers of alkyd resins imports to Jordan, together accounting for 94% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +10.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of alkyd resins in primary forms to Jordan, comprising 76% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total imports. It was followed by Argentina, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates stood at +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (-11.9% per year) and Argentina (-16.3% per year).

Import Prices by Country

In 2022, the average alkyd resins import price amounted to $X per ton, growing by 9.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 30%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform