Malaysia: Melamine Resins Market 2024

Melamine Resins Market Size in Malaysia

The Malaysian melamine resins market soared to $X in 2021, surging by 18% 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). Overall, consumption, however, showed a perceptible downturn. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Melamine Resins Exports

Exports from Malaysia

After three years of decline, overseas shipments of melamine resins in primary forms increased by 9.9% to X tons in 2021. Overall, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 39% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, melamine resins exports soared to $X in 2021. In general, exports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2014 with an increase of 47% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for melamine resins exports from Malaysia, with a 37% share of total exports. Moreover, melamine resins exports to China exceeded the volume sent to the second major destination, Thailand (X tons), twofold. The third position in this ranking was taken by Singapore (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -14.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-7.6% per year) and Singapore (-6.9% per year).

In value terms, China ($X) remains the key foreign market for melamine resins in primary forms exports from Malaysia, comprising 39% of total exports. The second position in the ranking was held by Singapore ($X), with a 13% share of total exports. It was followed by Thailand, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to China totaled -10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-9.3% per year) and Thailand (-9.0% per year).

Export Prices by Country

The average melamine resins export price stood at $X per ton in 2021, picking up by 10% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2019 an increase of 19% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Japan ($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 China (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Melamine Resins Imports

Imports into Malaysia

In 2021, approx. X tons of melamine resins in primary forms were imported into Malaysia; growing by 5.8% compared with the year before. Over the period under review, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2014 with an increase of 31%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, melamine resins imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2014 when imports increased by 24%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Thailand (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of melamine resins imports to Malaysia, with a combined 70% share of total imports. These countries were followed by Singapore, Indonesia, Japan, Bangladesh and the United States, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +41.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest melamine resins suppliers to Malaysia were Singapore ($X), Thailand ($X) and Japan ($X), with a combined 68% share of total imports. Taiwan (Chinese), China, Indonesia, the United States and Bangladesh lagged somewhat behind, together accounting for a further 24%.

Bangladesh, with a CAGR of +43.1%, saw the highest rates of growth with regard to the value of imports, in terms of 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 melamine resins import price amounted to $X per ton, surging by 13% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.6%. The most prominent rate of growth was recorded in 2015 an increase of 14% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+28.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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