Malaysia: Epoxide Resin Market 2024

Epoxide Resin Market Size in Malaysia

After three years of growth, the Malaysian epoxide resin market decreased by -17.7% to $X in 2021. Over the period under review, consumption continues to indicate a slight contraction. Epoxide resin consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Epoxide Resin Production in Malaysia

In value terms, epoxide resin production contracted notably to $X in 2021 estimated in export price. In general, production, however, saw modest growth. Epoxide resin production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Epoxide Resin Exports

Exports from Malaysia

In 2021, the amount of epoxide resins exported from Malaysia rose notably to X tons, surging by 13% against 2020. In general, exports, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2016 with an increase of 21% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, epoxide resin exports surged to $X in 2021. The total export value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by 29% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore (X tons), Japan (X tons) and Turkey (X tons) were the main destinations of epoxide resin exports from Malaysia, with a combined 51% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +42.1%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the Philippines ($X) and Singapore ($X) appeared to be the largest markets for epoxide resin exported from Malaysia worldwide, together accounting for 55% of total exports. Thailand, Turkey, China, Taiwan (Chinese), Indonesia and Vietnam lagged somewhat behind, together accounting for a further 34%.

Turkey, with a CAGR of +51.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average epoxide resin export price amounted to $X per ton, with an increase of 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2013 an increase of 45% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

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 the Philippines ($X per ton), while the average price for exports to Turkey ($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 Philippines (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into Malaysia

In 2021, approx. X tons of epoxide resins were imported into Malaysia; waning by -2.5% compared with the year before. Over the period under review, imports saw a perceptible decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 17% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, epoxide resin imports expanded sharply to $X in 2021. Overall, imports saw a slight decline. The pace of growth appeared the most rapid in 2019 with an increase of 12%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons), South Korea (X tons) and Thailand (X tons) were the main suppliers of epoxide resin imports to Malaysia, with a combined 63% share of total imports. Japan, Singapore, China and the United States lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +11.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest epoxide resin suppliers to Malaysia were Singapore ($X), Japan ($X) and Taiwan (Chinese) ($X), together comprising 63% of total imports. South Korea, Thailand, China and the United States lagged somewhat behind, together comprising a further 29%.

Thailand, with a CAGR of +6.8%, saw 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 2021, the average epoxide resin import price amounted to $X per ton, with an increase of 9.7% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 13% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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 Singapore ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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