MENA: Epoxide Resin Market 2024

Epoxide Resin Market Size in MENA

In 2021, the MENA's epoxide resin market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Epoxide Resin Production in MENA

In value terms, epoxide resin production reduced to $X in 2021 estimated in export price. Overall, production saw a slight contraction. The growth pace was the most rapid in 2017 when the production volume increased by 41% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Epoxide Resin Exports

Exports in MENA

In 2021, overseas shipments of epoxide resins increased by 4.8% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, recorded a mild decrease. The pace of growth was the most pronounced in 2014 with an increase of 43% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, epoxide resin exports soared to $X in 2021. Total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Saudi Arabia (X tons) and Turkey (X tons) represented the main exporters of epoxide resins in MENA, together finishing at near 64% of total exports. The United Arab Emirates (X tons) held the next position in the ranking, followed by Israel (X tons). All these countries together held near 30% share of total exports. The following exporters - Oman (X tons) and Jordan (X tons) - each finished at a 3.8% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +49.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest epoxide resin supplying countries in MENA were Turkey ($X), Saudi Arabia ($X) and Israel ($X), together accounting for 82% of total exports.

Among the main exporting countries, Israel, with a CAGR of +53.0%, recorded the highest rates of growth with regard to 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

The export price in MENA stood at $X per ton in 2021, growing by 33% against the previous year. Export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+6.9%), while the other leaders experienced more modest paces of growth.

Epoxide Resin Imports

Imports in MENA

In 2021, imports of epoxide resins in MENA skyrocketed to X tons, rising by 41% against 2020 figures. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, epoxide resin imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) represented the main importer of epoxide resins, making up 44% of total imports. The United Arab Emirates (X tons) took a 25% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (8.6%). The following importers - Israel (X tons), Egypt (X tons), Oman (X tons), Morocco (X tons), Bahrain (X tons) and Qatar (X tons) - together made up 16% of total imports.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +14.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported epoxide resins in MENA, comprising 46% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by Saudi Arabia, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +16.8%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+6.3% per year) and Saudi Arabia (+8.3% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, jumping by 36% against the previous year. Over the last nine years, it increased at an average annual rate of +2.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform