Malaysia: Resinoids Market 2022

Resinoids Market Size in Malaysia

In 2021, the Malaysian resinoids market decreased by -66.2% to $X, falling for the seventh year in a row after three years of growth. Overall, consumption faced a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Resinoids Production in Malaysia

In value terms, resinoids production rose slightly to $X in 2021 estimated in export price. In general, production, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when the production volume increased by 72% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Resinoids Exports

Exports from Malaysia

In 2021, shipments abroad of resinoids was finally on the rise to reach X tons after two years of decline. In general, exports continue to indicate strong growth. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, resinoids exports surged to $X in 2021. Overall, exports recorded noticeable growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for resinoids exports from Malaysia, accounting for a 53% share of total exports. Moreover, resinoids exports to France exceeded the volume sent to the second major destination, the UK (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to France totaled +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+11.3% per year) and the United States (0.0% per year).

In value terms, France ($X) remains the key foreign market for resinoids exports from Malaysia, comprising 61% of total exports. The second position in the ranking was taken by the UK ($X), with a 13% share of total exports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to France totaled +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+4.4% per year) and the United Arab Emirates (+34.0% per year).

Export Prices by Country

The average resinoids export price stood at $X per ton in 2021, declining by -23% against the previous year. Overall, the export price recorded a slight shrinkage. The growth pace was the most rapid in 2019 when the average export price increased by 84% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the United States ($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 Indonesia (+36.3%), while the prices for the other major destinations experienced mixed trend patterns.

Resinoids Imports

Imports into Malaysia

For the third year in a row, Malaysia recorded decline in supplies from abroad of resinoids, which decreased by -67.6% to X tons in 2021. In general, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2015 when imports increased by 1,570%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, resinoids imports plummeted to $X in 2021. Over the period under review, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 986% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of resinoids to Malaysia, accounting for a 63% share of total imports. Moreover, resinoids imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+90.2% per year) and the United States (+22.1% per year).

In value terms, China ($X), South Korea ($X) and the United States ($X) were the largest resinoids suppliers to Malaysia, together comprising 92% of total imports.

South Korea, with a CAGR of +87.2%, recorded the highest rates of growth with regard to 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 resinoids import price amounted to $X per ton, growing by 14% against the previous year. Overall, the import price, however, recorded a slight setback. The pace of growth was the most pronounced in 2013 an increase of 17% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+9.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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