Kazakhstan: Epoxide Resin Market 2024

Epoxide Resin Market Size in Kazakhstan

The Kazakh epoxide resin market stood at $X in 2021, with an increase of 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -28.4% against 2019 indices. Epoxide resin consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Epoxide Resin Exports

Exports from Kazakhstan

In 2021, shipments abroad of epoxide resins was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 1,379% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, epoxide resin exports soared to $X in 2021. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 233%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Kyrgyzstan (X tons) was the main destination for epoxide resin exports from Kazakhstan, with a 80% share of total exports. Moreover, epoxide resin exports to Kyrgyzstan exceeded the volume sent to the second major destination, Russia (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kyrgyzstan stood at +30.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+38.3% per year) and Uzbekistan (+32.7% per year).

In value terms, Kyrgyzstan ($X) remains the key foreign market for epoxide resins exports from Kazakhstan, comprising 63% of total exports. The second position in the ranking was taken by Russia ($X), with a 29% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Kyrgyzstan stood at +31.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+101.5% per year) and Uzbekistan (+31.6% per year).

Export Prices by Country

The average epoxide resin export price stood at $X per ton in 2021, picking up by 35% against the previous year. Overall, the export price saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 254%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+973.6%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into Kazakhstan

In 2021, supplies from abroad of epoxide resins decreased by -3.7% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 62%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, epoxide resin imports soared to $X in 2021. In general, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -25.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 49% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest epoxide resin supplier to Kazakhstan, accounting for a 58% share of total imports. Moreover, epoxide resin imports from Russia exceeded the figures recorded by the second-largest supplier, the UK (X tons), fivefold. China (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia stood at +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+28.9% per year) and China (-2.2% per year).

In value terms, Russia ($X) constituted the largest supplier of epoxide resins to Kazakhstan, comprising 45% of total imports. The second position in the ranking was held by the UK ($X), with a 15% share of total imports. It was followed by Germany, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value from Russia totaled +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+21.2% per year) and Germany (+9.2% per year).

Import Prices by Country

In 2021, the average epoxide resin import price amounted to $X per ton, increasing by 23% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 29% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+63.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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